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Moderna basking in billions, charged with corporate greed  

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By Dana Malcolm  

Staff Writer  

 
 

#USA, March 31, 2023 – In what Bernie Sanders, former Presidential candidate, is describing as a bout of ‘corporate greed,’ Moderna has laid out plans to quadruple the cost of its vaccine raising the price to between $110 to $130 from the original $15 to $26 dollars in the coming months as the US Government cuts off it Covid-19 vaccination funding.  

The US, like other governments around the globe, has been purchasing the vaccines directly from makers like Moderna and Pfizer for the past two years, and providing the shots free to everyone who showed up for the jabs. 

Not only did that level the playing field for all to get protected from the respiratory disease regardless of employment status or finances, but it also made Moderna billions.  Now the US government is phasing that out and residents will have to purchase their own vaccines.  

Buying in bulk caused hundreds of thousands of doses to go to waste as well, as they expired on the shelf when vaccine interest waned.  The US did make use of these doses, shunting off some of those soon to be expired shots to other countries to avoid complete loss.  

Considering the dip in vaccine take-up over the past year and that COVID-19 cases are significantly lower than the peak in 2022, it stands to be highly likely that when the Government pulls its funding, Moderna stands to see the revenue it enjoyed in the last 2 years severely diminished. 

The CEO did not back down on the pricing even in the face of a Senate committee called to assess the massive increase on what the World Health Organization has described as a life-saving treatment.  

“So, the taxpayers of this country who put money into the vaccine in order to protect the health of and lives of the American people, are now creating billionaires in a company that is going to quadruple prices for them,” Sanders said in a recent video posted to his YouTube channel. 

COVID-19 is not over, the WHO is currently toying with the possibility of recommending yearly vaccines.  

If Moderna hikes its prices, US residents could be left holding the bag, shelling out up to $130 for a single jab which costs around $3 dollars to make.  It’s a price tag that could prove daunting to many families especially those with low incomes and considered among the medically vulnerable. 

It would also affect some in the Americas which purchases from Moderna as well through the UN’s Covax program. 

Government

Turks and Caicos Premier Delivers Banner Year Budget Amid Pressing National Challenges

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Deandrea Hamilton

Editor

 

 

Turks and Caicos, May 23, 2025 – Premier Charles Washington Misick has unveiled what is viewed as a “banner year” budget for the Turks and Caicos Islands, forecasting $549.5 million in revenue for the 2025/26 fiscal year.

The theme: “Building Prosperity & Securing Our Future,” signals a bold promise to transform the country’s infrastructure, improve public services, and confront pressing national issues—chief among them, a deepening housing crisis and escalating security threats.

Despite the ambitious tone and large allocations, critical questions remain about whether the budget sufficiently addresses the most urgent needs of the population.

Housing Crisis: A Priority or a Placeholder?

The Premier acknowledged the country’s housing deficit, which affects every island, but offered only broad strokes in terms of solutions. His government pledged to invest $23 million in Housing and Community Amenities, a figure that also includes spending on water distribution, treatment, and district administration.

Key initiatives include:

  • Designation of traditional communities as special development zones with targeted concessions.
  • Increased funding for home repairs, aiming to support vulnerable homeowners.

However, no new housing construction projects or large-scale development plans were announced. There is also a lack of detail on timelines or targets—such as how many homes will be built, rehabilitated, or made available through affordable programs.

Conclusion: The housing crisis is acknowledged, but the government’s response, as laid out in this budget, leans heavily on incremental measures rather than bold new solutions. For citizens facing overcrowding and unaffordable rent, the plan may feel underwhelming.

Crime and Security: A Tougher, Multi-Layered Response

Violent crime, particularly gang-related murders and transnational threats, has reached alarming levels in TCI. In response, the Premier announced a sweeping $106 million allocation for public order and safety—one of the largest single budgetary spends.

Highlights include:

  • $49.1 million for the Royal Turks and Caicos Islands Police Force (RTCIPF)
  • 76 new police recruits, plus the deployment of 42 tactical officers from Barbados and Jamaica
  • Expansion of mobile police stations and planning for new fixed stations, beginning in Providenciales
  • Investment in CCTV, gunshot detection, and community policing initiatives
  • 24/7 border patrol by Marine Police and increased aerial surveillance
  • Radar installations in four strategic coastal locations
  • Strengthening partnerships with UK, U.S., Bahamas, INTERPOL, and others

The government cites an 11% decrease in serious crime and a 17% reduction in murders during the first four months of 2025. These early results offer cautious optimism, though much of the security strategy is still unfolding.

Conclusion: On crime, the government is investing heavily and appears to have a coordinated plan, blending immediate response with longer-term capacity building. The emphasis on border control and regional collaboration signals a serious approach to transnational crime.

Revenue Strategy: No Major Tax Increases, Modest Adjustments

The budget outlines $549.5 million in projected revenue, sourced primarily from:

  • Accommodation Tax: $133.7 million
  • Import Duties: $132.4 million
  • Stamp Duty: $50 million
  • Work Permits: $50 million

To support this, the government is introducing subsistence-level new revenue measures, including:

  • $40 increase in vehicle license fees
  • An import license for large-scale alcohol and tobacco importers

Conclusion: The Premier’s fiscal strategy maintains public stability by avoiding new broad-based taxes while seeking modest new streams to boost revenue. This cautious approach aims to keep inflationary pressure in check while ensuring fiscal health.

Investing in the Future: Youth, Education, Health

The budget also directs funding toward:

  • Youth programs, particularly for at-risk youth, as part of a crime prevention strategy
  • Education and skills development, though exact figures were not detailed
  • Healthcare, with a commitment to better access and affordability

A unified vision to modernize public institutions, improve digital governance, and restore public trust is also part of the long-term reform agenda.

Conclusion: The Premier articulates a future-facing approach, though some sectors lack clear budgetary breakdowns. Education and healthcare are promised support, but housing and social safety nets may require deeper intervention.

Final Assessment: A Balanced but Incomplete Response

Premier Misick’s 2025/26 Budget presents an ambitious and well-funded plan to secure the nation’s future. Investments in security and border protection are decisive and immediate, while economic growth is forecast to continue under stable fiscal policy.

However, for a country in the midst of a housing crisis, the government’s response—while well-intentioned—may fall short of the scale required to meet the moment. Similarly, social challenges linked to crime, youth disengagement, and income inequality require not just infrastructure, but deeper systemic reform.

The Premier concluded his address with a promise to “build a Turks and Caicos that works for everyone.” Whether this budget is the foundation for that future—or merely a stepping stone—will be revealed in the months ahead.

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Caribbean News

Cabinet Approves Unemployment Insurance Benefit for NIS Contributors

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Kingston, Jamaica, May 17, 2025 – Cabinet has approved the introduction of the unemployment insurance benefit, which will be added to the suite of provisions under the National Insurance Scheme (NIS).

The new benefit will serve as a guaranteed safety net for all employees who contribute to the NIS, except for self-employed persons.

Additionally, work is under way to establish the requisite legal and institutional frameworks to implement this important national support system.

“One of the key lessons from the COVID-19 pandemic is the urgent need for a system that supports workers who lose their jobs, helping them to remain financially stable while seeking re-employment,” Minister of Labour and Social Security, Hon. Pearnel Charles Jr., said during his 2025/26 Sectoral Debate presentation in the House of Representatives on Tuesday (May 13).

Meanwhile, the Government has taken a decisive step to strengthen the nation’s social security framework by implementing the Social Protection for Increased Resilience and Opportunity (SPIRO), a US$20-million initiative supported by the World Bank.

Mr. Charles Jr. noted that SPIRO, which was launched last year, represents a transformative shift in social governance, with three strategic pillars – the creation of a unified Social Protection Information System (SPIS), supporting the introduction of unemployment insurance, and modernising of the Labour Market Information System (LMIS).

“The project is already generating impact through comprehensive assessments led by expert consultants, aimed at overhauling labour market services,” he stated.

The Minister further indicated that there will be upgrades to the Electronic Labour Exchange (ELE) and LMIS, which will enhance the digital infrastructure for employment services.

 

CONTACT: LATONYA LINTON

Release: JIS

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Government

Governor Calls for Bold, Community-Led Policing in Crime Fight

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Providenciales, TCI Governor Dileeni Daniel-Selvaratnam has issued a strong call for data-driven, intelligence-led and community-based policing to combat rising crime in the Turks and Caicos Islands. In remarks delivered at the recent swearing-in of Commissioner Fitz Bailey, the Governor underscored the urgent need for reform, accountability and strategic collaboration across agencies and borders.

“Our response to crime must be strategic, data-driven, intelligence-led and collaborative—across agencies, across borders and above all, with the communities we serve,” the Governor said, addressing law enforcement officers and regional dignitaries.

She warned that criminal networks are becoming more sophisticated, and that the TCI is at the “sharp end” of regional security threats. Against that backdrop, she outlined a vision for the Royal Turks and Caicos Islands Police Force as an institution rooted in fairness, strengthened by public trust, and driven by results.

“We must be unforgiving in our zero-tolerance approach to misconduct,” she added. “Wearing the badge must continue to be a source of pride, not of power or privilege.”

Governor Selvaratnam praised Commissioner Bailey for his record of modern, community-focused leadership and said his appointment marked a critical moment for the country’s law enforcement strategy. While the ceremony took place two weeks ago, her words continue to resonate amid ongoing public concern about violent crime and border security.

Quoting from the Bible and invoking the moral arc of justice, the Governor emphasized that effective policing must be grounded in integrity, humility and service.

With regional police leaders from Jamaica and The Bahamas in attendance, the event signaled a united front against shared threats—and a new chapter in the push for a safer, more resilient Turks and Caicos Islands.

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