Work Permit In Top 5 Revenue Earner

By Vivian Tyson

Unit - $461.4,000 which is an increase of 78.5 percent; and

• Health Emergency Management Unit$323,000, which is an increase of 29.2 percent

The Ministry of Education, Youth, Sports and Social Services, in total, will be getting $51.1 million, which is an increase of 19.1 percent, plus $6.4 million in Capital projects.

The Ministry of Home Affairs and Transportation is to get $26.3 million, which is an increase of 2.4 percent, plus $905,000 in Capital projects.

The Ministry of Finance, Investment & Trade is getting $26 million, which is a decrease of 28.5 percent, plus $3.1 million in Capital projects. Immigration and Border Services, in total will be getting $22.7 million, which is an increase of 44.7 percent, plus $14 million in Capital projects.

The Ministry of Physical Planning and Infrastructure Development is to get $22.8 million, which is an increase of 1.5 percent, plus $19.7 million for Capital projects.

Finance Minister Saunders pointed out that the Office of the Governor as a category, is to get $7.6 million - an increase of 5.1 percent, plus $50,000 in Capital projects, while the Office of the Deputy Governor as a category is getting $3.0 million - an increase of 4.7 percent, plus $135,000 in Capital projects.

The Police as a category is earmarked to get $35.9 million - an increase of 13.0 percent, plus $6.2 million in Capital projects.

The Ministry of Tourism, Agriculture, Fisheries, Heritage, Religious Affairs and The Environment, will be getting $14.2 million, which is a decrease of 1.0 percent, plus $5.4 million for Capital projects.

Work Permit is among the top five areas that government will be looking to raise the $414.9 spending budget for the 2023/24 fiscal year. Deputy Premier and Minister of Finance Hon. E. Jay Saunders announced during his budget presentation on Tuesday, May 16, that government was seeking to rake in a 2.8 revenue increase over the 2002/23 budget for the issuing work permit. He said government is seeking to raise $36,8million from that stream of revenue for this budget.

The opposition Peoples Democratic Party (PDM) and the ruling Progressive National Party (PNP) have often butt heads over whether work permit should be used as a stream of revenue. However, while opposing it when in opposition, the PDM, when in power, also used the issuing of work permit as means to fill its revenue coffers.

Saunders, while delivering his budget speech, stated that his administration would be looking to collect $106.5 million from Accommodation Tax – an increase of 4.0 percent. Tourism continues to be the country’s bigging revenue earner, with import duties coming in at a close second. This year government will be looking to haul in $98.5 million from Import Duties – an increase of 2.5 percent. It will also be looking to fatten its kitty from Stamp Duty on Land Transactions, hoping to collect $58.3million – an increase of 205 percent.

The Ministry of Health and Human Services will get the lion’s share of the budget - $84.6 million, which is an increase of 1.9 percent, plus $2.5 million in Capital projects. That sub budget is slated to cover:

• Policy Planning and Administrative Support for the Ministry of Health and Human Services is getting $64.1 million, which is equal to Financial Year 2022/23;

• Dental Department - $1.2 million, which is an increase of 26.7 percent.

• Primary Health Care Unit - $3.3 million, which is an increase of 12.2 percent.

• Health Promotion and Advocacy - $727 thousand, which is an increase of 13.1 percent, plus $55,000 for Capital projects.

• Public and Environmental Health - $6.7 million, which is a decrease of 4.6 percent, plus $100,000 for Capital projects.

• Mental Health and Substance Abuse$2.1 million, which is an increase of 8.8 percent, plus $80,000 for Capital projects.

• Special Needs Unit - $2.0 million, which is a decrease of 25.4 percent, plus $1.2 million for Capital projects.

• National Public Health Laboratory$771,000, which is an increase of 44.5 percent.

• Emergency Medical Service (Ambulance) - $2.1 million, which is an increase of 51.2 percent, plus $1.2 million for Capital projects.

• Contract Management Unit = $980 thousand, which is an increase of 105.4%.

• National Epidemiology and Research the Office of the Premier is getting $8.1 million, which is an increase of 5.0 percent, plus $4.1 million in Capital projects.

The breakdown is as follows: the Attorney General’s Chambers as a category is getting $12.5 million, which is an increase of 24.2 percent, plus $820,000 in Capital projects.

• Public Policy and Strategic Management Unit (PPSM) for the Office of the Premier is getting $3.6 million, which is a decrease of 34.2percent, plus $4.1 million in Capital projects.

• Strategic Policy and Planning for the Office of the Premier is getting $3.0 million, which is an increase of 61.7 percent.

• Radio Turks and Caicos - $736,000.

• Communication Directorate$687.5,000, which is an increase of 119.9 percent.

The National Security Secretariat is to receive $5.5 million - an increase of 113.6 percent, plus $1.4 million for Capital projects.

The House of Assembly is getting $3.9 million, which is an increase of 2.1 percent, plus $150,000 in Capital projects.

Office of the Director of Public Prosecutions is budgeted $2.2 million, which is an increase of 35.8 percent.

“Overall, during Financial Year 2023/24 our government is seeking to spend on the good people of these beautiful by nature Turks & Caicos Islands, $424 million, which is an increase of 18.0%, plus $65.1 million in Capital projects, which itself is an increase of 258 percent,” the finance minister said.