PM seeks approval to borrow monies for employment programme, UWI Open Campus extension

Press secretary, OPM

Prime Ministry and Minister of Finance Dr. Kenny Anthony in Parliament.

PRESS RELEASE – The House of Assembly will convene on Tuesday, August 12, 2014 (tomorrow) at 10:00 am.

Prime Minister and Minister for Finance, Economic Affairs, Planning and Social Security, Hon. Dr. Kenny D. Anthony will seek the approval of parliament to secure a loan of $3,000,000.00 from the National Insurance Corporation, to finance the Cruise Sector Employment Programme.

In the 2014/2015 Budget, Prime Minister Anthony announced that the Government of Saint Lucia entered into an arrangement with Carnival Cruise Lines, the Saint Lucia Development Bank and the Springboard Training Institute to provide jobs for unemployed youth. Over two hundred young people will be trained and provided with low interest loans, so as to enable them to benefit from employment opportunities in the Cruise Sector.

The Prime Minister will also seek the authorization of Parliament to guarantee the sum of EC $18,200,000.00, from the Caribbean Development Bank, for the University of the West Indies, for the purpose of extending the Open Campus at Morne Fortune.

The Money Services Business (Amendment) Bill, the Immigration (Amendment) Bill and the Motor Vehicles and Road Traffic Bill, will also be presented for first reading.

The House Sitting will be aired live on the National Television Network and will be streamed at www.govt.lc

 

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40 comments

  1. The Man is the most brilliant lawyer the island, no, the OECS, no the Caribbean region, no, the Americas, no, the world has ever seen and the justice system is in such a terrible state. Can you imagine what the real, I mean, real, state the Country's finances are in seeing that he is NOT the world's greatest financial guru? IS NOT HIS MONEY.

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  2. In the state that our economy is in, borrowing money should be our last resort. Expanding the school campus does not seem ideal at this point. Priorities, remember we have to repay the loan with interest. Mr. Pm how about fixing the current judicial mess of a system. The prison currently has more people on remand waiting for trials than sentenced prisoners. Some of those persons on remand for minor offences, who later become hardened criminal. Priorities, how about getting government offices to work more efficiently giving better services to vat payers.

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  3. I am so shocked... So shocked. I cannot believe this... It can't be happening! NOOOOO!!! You want to take 5% from us and you still dishing money out for UWI Open Campus? Isn't it supposed to be moving more towards ONLINE programs? What the hell you need to expand it for???? UWI Open Campus is NOT a national university. What about plans to upgrade SALCC!!!! I tell you... Under this administration, St. Lucians experiencing the most hardship. And I refuse to believe that all supporters of this administration in favour of these kinds of insane decisions. Lucians open your eyes!

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  4. NIC is the biggest ponzi scheme. All our NIC monies go toward buying Government bonds. When you see audited financials you will be shocked. You folks need to understand that this is just a corrupt system to serve the 1%.

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  5. Why the prime minister in is mc eh take the money from his pockets and the pockets of the other politicians stop borrowing and killing the country, cause you sell saint lucia already when you're done is run to trinidad. That why no jobs and more crime you jack ***

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  6. It has been a while now since the NIC has not published audited financials. Goverment borowing such moneies from the NIC is a bad practice which should not continue. Already methere are talks that contributions are insufcient to meet long term demands. Why is it that goverment cant get this money from another source nobody wants to see them. To Mr Mathew and the rest of the NIC board be very carefull with how you lend out such monies.

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  7. STOP THE BORROWING! STOP THE BORROWING!!! STOP IT!! STOPP IT!!! STOPPPPP!!!

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  8. "The Prime Minister will also seek the authorization of Parliament to guarantee the sum of EC $18,200,000.00, from the Caribbean Development Bank, for the University of the West Indies, for the purpose of extending the Open Campus at Morne Fortune"
    --------------------------------------------------------------------------------
    Unbelievable! I guess the Cave Hill Campus is too far for St.Lucians to travel to. Kenny should stop taking advise from his wife and start listening , instead, to the St.Lucian people.
    This mistaken notion that every island should have its own doesn't always make sense. For example, between Barbados, St.Lucia, St.Vincent, and Grenada - a population of well under a million - there will be, by years end, 4 international airports.

    By contrast, there are 3 international airports in the New York/New Jersey area to serve more than 17 million people.

    No wonder we will always remain poor because we think every island should have everything.

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    • I cannot agree enough. Airports are very expensive things to run. The population size of st lucia is HALF OF A PROVINCIAL ENGLISH TOWN. Yet you expect world class education facilities, hospitals, roads, services.

      You have to prioritise what you can do and learn to manage what you can't.

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    • Population of OECS-approx 530k. "International airports" in Antigua, St. Kitts, St. Lucia, Grenada. St. Vincent, 19 miles from St. Lucia, is building one at an estimated cost of EC$700m. Throw in Barbados, total pop is approx 850k, maybe less and this region is projected to have 6 "international"airports. IT IS NOT THEIR MONEY.

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  9. Again Tax Payers are being called upon to provide more money for the Labour Party to continue to provide jobs and opportunities for its party supporters.

    Collectively, St Lucians we must put a stop to that. The only people benefiting for Kenny's so-called initiatives are his party supporters.

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  10. I really don't think all that money is for what it is said to be. Some may be filtered to other things in a hidden format.

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  11. Kenny have to suck that country dry for we lucians to understand he is only there for him self and his pocket, we are the smallest country with the higher debt 95million dollars and you still want to borrow more money. What happen to the million dollars they gave you to provide laptops for school children, you take it for your own use his wife has a company in Trinidad that sells laptop so you just take the cheapness and come bring it lucia. Every body saying don't blame the government like the old saying goes who have, have who don't have stay with out when things start to get hard I'm waiting for the same set of people that say don't blame the government I want to hear you'll cry. Let the weed party lead this country let some other team other than kenny or king I am fed up of that crap

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  12. Such an asinine move. Most of these cruise ship folks ain't back to SL to live. This guy is bankrupting the nation - period.

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  13. slp has failed us

    this just shows you,that kenny is reckless and has no thought process in government. already, people's nic pensions are hard to come by, yet, you going to further drain the finances of nic. what will happen next. folks, you know what. soon form now, nic will make announcement that their short fall is so high, that they will have to increase the pension age again. oh god, what must st.lucians do. emma, increased it, to 65 years. now, kenny looking to put it to 70.

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  14. Some much debt he claim we in and yet still so much borrowin ..who will pay it back?

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  15. The cruise sector thingy is not a bad idea. But 18 million for UWI open campus right now is not a DAMN priority. That is a waste of our damn money!!!!!And then after that the jackasses in Stlucia will say the country doh have money what he go do but they aint want the salary touched.

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  16. More borrowing and still can't tell us what amour of VAT collected, with all these taxes think we would be recovering well...but this man is just bent on borrowing

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  17. You're praising 7th place? Really we need to be number one. The OECS countries need to come together to solve this problem. Every country produces something or can produce something that the other needs. Each country is given something to produce and we buy and supply from/to each other. Mass production supply Europe. Soften the rules/process of factories being open here. Farming can bring this country back on it's feet. For example Barbados imports almost 80% of what they eat. When you have people in government giving their friends jobs instead of seeking advice from people who are doing amazing in your own country. Also people please be advised that you placed the current government there, we have the right to vote. That's a privilege that most of you take for granted when black people weren't allowed to vote not to long ago. Borrowing leads to more debt but to make money you need to spend money. Every year we get less farmers as kids don't follow their parents foot steps any more. We're getting to be a lazy nation who wants everything given to us. We control who we put in power unless the election is rigged then we don't.

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  18. Kenny is doing well according to economic growth projections for 2014 by the United Nations Economic Commission for Latin America and the Caribbean. Our economy is projected to grow by 2.3% of GDP beating that of Jamaica, Trinidad, Grenada, St Vincent, Cuba, Dominica and Barbados. Among 15 Caribbean countries, St Lucia is tied with the Bahamas for 7th place.

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  19. This man is insane. He needs to be locked up in psych ward

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  20. Spending money to make money is not a bad gamble. I guess we will have to borrow ourselves out of debt.

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    • what? You have to hope that the return on the borrowed money is greater than the interest paid on the principal amount. if not, the interest compounds and you end up owing me

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  21. If you don't want the borrowing then provide the needed resources or shut up.What do we produce? Civil servants don't want to sacrifice 5% when most of them are non productive--absenteeism,unpunctual,take sick leave to go overseas,leave early to pick up kids,etc.All that adds up to more than 5%.

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    • How was it done before? The economy of the other OECS countries has surpass ours. They too are feeling the effect of the global crisis, if there is still one. They too do not have natural resources.You all guys need to admit that this guy is screwing up the country.

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  22. Mr. PM does this mean that you will increase the pension age to 70years? Or let say you cannot pay it back because the persons that we are helping aren't contributing to NIC. Since they are on the Cruse Ship, yes Cruse to spend their money, well our money in other countries.

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  23. Well Kenny, Chastenet may be a disaster but you are a catastrophe!

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  24. people you'll eh see what kenny trying to do do? after civil servants have no retirement pension, is their lil NIC they have to pay to secure themselves of a future.you mean to tell me Kenny going and deep his hand in our money? you don't see the PM does not care for st.lucians? I hope parliament rejects it. Mr PM, it's a good venture what you are trying to do but go borrow your money somewhere else.Or better yet,have your ministers make a contribution from their salary but eh touch civil servants pension.

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  25. Oh my God what next. The p.m wants to cut public servant salaries by 5%, we have a 79 million deficit to deal with yet still he is talking about borrowing more money. If the economy is so bad where keep increasing the debt portfolio, certainly this is not prudent financial management. This one is for ms Hippolyte (NIC) "the poor peoples money" What do u have to say about using the contributors money now.

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  26. The MP is taking about salaries cut at about 5% .but he is still borrowing money , if thing are so bad why in god name will he borrow more money.

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  27. After u taxing all the juice from our bones u want to borrow more money? How do we repay this loan? Tax everyone with pubic and armpit hairs?

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  28. Hail, to Dr. Kenny D Anthony.

    I support this move.

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  29. When is the prime minister going to stop borrowing ? Borrow, borrow, borrow ! This is for a good purpose don't get me wrong, enough talking, lets see these plans being implemented. Also, he should invest some more into the school at the MOrne, for more programs to help develop SLU with more prospective career choices for young and old individuals.

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  30. More borrowing and guarantees..Jah Just say NO Kenny

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  31. Who's going to pay these monies back. Civil servants?

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  32. Why don't we solve one problem at a time. Salaries are going to be cut yet we are still borrowing.

    On another point there is always talk about creating job opportunities for the unemployed youth (kuddos to them) .. but what about those who are educated college graduates who cannot find jobs when they find home.... where are the opportunities being created for them 🙁

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    • Next time, before you put your money down for a university credential make very certain that you understand the simple principle of cost recovery. Do a crash course in personal finance. In other words, the piece of paper that you may have worked so hard for, must allow you to pay back the loan easily. Or else, you are just putting yourself in deep doo-doo. And for what one might ask?

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    • Brilliant!

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    • BRAINDRAIN!!!

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