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The Premier caved; Provided essential documents- Hon Fahie
The controversial Bill brought to the House of Assembly by Premier and Minister of Finance Dr The Honourable D. Orlando Smith (AL) was voted on and passed with amendments on March 27, 2018.
10 Members, including Honourable Fahie, voted in favour of the Bill, while two Members, Opposition Member Honourable Julian Fraser RA (R1) and Second District Representative Hon Melvin M. Turnbull, voted against the Bill. Deputy Speaker and Fifth District Representative Hon Delores Christopher was absent.
Primary concern addressed
Hon Fahie, like many other Members, had stated during the debates that they would not support the Bill in the form it was presented as there were many concerns.
“I made it clear to the Government of the day that we must restore confidence in these Virgin Islands especially for investors (both local and foreign), the UK and the voters. As a result, I participated in making many amendments to the Bill. I am pleased to inform that my primary concern was addressed,” Hon Fahie stated in a press release on March 27, 2018.
He explained that this concern was the huge amount in loan funds being sought would cause the Territory to be outside the allowed ratios of the Protocols for Effective Financial Management document for borrowing.
“The Premier stated to Members that the UK responded to this concern through a 26th March email to him. It was acknowledged that this concern must be addressed. The UK pledged to have dialogue to allow for such. Having this particular issue addressed and rectified is a major victory for the BVI in many respects, especially financially.”
‘The Premier caved’
One of the concerns that many other Members, including Backbenchers, had expressed was Premier Smith’s refusal to provide them with critical documents to help inform their decision on the Bill. But, according to Hon Fahie, Premier Smith finally honoured “somewhat” their requests.
“The Premier also caved in and somewhat honoured Members request and provided essential documents relating to this matter to allow for a more informed decision.”
Hon Fahie added that the Bill underwent major amendments; however, all were in the best interest of the people of the Virgin Islands and in the best interest of ensuring accountability, transparency and independence of political interference of the Board/Agency, the latter being one of the major concerns expressed by legislators, including Minister for Health and Social Development Hon Ronnie W. Skelton (AL).
Amendments
Hon Fahie shared that some of the amendments included, but were not limited to:
1) Cabinet will not approve the Recovery Plan alone but it is now subjected to an Affirmative Resolution of the House of Assembly.
2) The functions of the Board and Agency are well defined and all efforts were exhausted to ensure that they do not conflict with the Constitutional powers of Ministers and their duties.
3) The Board will ensure the Proper implementation of the approved recovery plan through the Agency.
4) The selection of the Chairperson of the Board to include input by the Governor, Premier and The Leader of the Opposition.
5) Composition of the Board was amended to include a youth to be selected by the Leader of the Opposition; and the Premier to select a person from one of the sister islands.
Amendments were in the ‘best interest’ of VI
The Bill will now make its way to the Governor for it to be assented to so that it can be official.
“I strongly feel that the many amendments made were in the best interest of the people of the Virgin Islands so it made it easier to now vote ‘YES.’ However, this is only the first leg of the journey because once approved the Regulations must be developed and also approved.”
Hon Fahie concluded that the recovery of the Territory from the damages of hurricanes Irma and Maria must be the primary goal at this time and political differences must be put aside to allow this to happen in the best interest of all. “As a result I have guarded my actions accordingly in the best interest of the people of the Virgin Islands.”
The Virgin Islands Recovery and Development Agency Act 2018 was necessary for the creation of an independent agency to manage all monies borrowed and grants received for the recovery and development of the Territory following two catastrophic hurricanes in September 2017. The agency was mandated by the United Kingdom in exchange for loan guarantees of up to $400M.
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