VOLUME 12 ISSUE 13

Page 1

APRIL 2ND, 2016 – APRIL 9TH, 2016

Website: www.suntci.com

VOLUME 12 - NO. 13

Email: sun@suntci.com

Tel: (649) 339-5879

$1.00

Fax: (649) 941-3281

www.facebook.com/tcisun

DEVELOPERS RECEIVED TOO MANY CONCESSIONS F

by Hayden Boyce Publisher & Editor-in-Chief

ormer Permanent Secretary in the Ministry of Finance, Mr. Delton Jones, testified in the ongoing highprofile corruption trial that investors and developers in Turks and Caicos Islands received too many concessions during the administration of former Premier Michael Misick. Jones, who is the second witness to be called by lead prosecutor Andrew Mitchell, QC, said that this concern was shared by officials in his ministry and certain persons at the former TCI Invest. “We thought that the economy was moving very well, so the amount of risks that a potential investor coming into the TCI would face would be reduced compared to earlier times, so we wanted to tighten up on granting so many concessions,” Jones told the court that is being presided over by Mr. Justice Paul Harrison. Asked by Mitchell if he had any direct interface with any politicians about the issue of concessions, Jones, who is now based in Fiji, which is located in the South Pacific Ocean, said he would periodically talk to for Premier Michael Misick and former Minister of Finance, Floyd Hall about it. “Broadly speaking the risks involved were reduced, so people (investors) would come anyhow,” Jones said in support of his stance on granting concessions. In response to a question from Mitchell, Jones said that he was involved in a study that preceded the creation of TC Invest and it was stated that investors did not have to go through TC Invest for concessions, but they could have gone straight to the ministers. Questioned further by the prosecutor about what role the Ministers had in relation to concessions, he stated: “To some extent, the level of concessions that were being offered were standard. Most of them came through law firms but you could tell by

Arrests made in Grand Turk murder - Page 6 Temporary hold on work permits, PRC - Page 5

Mr. Delton Jones

SEVERAL LUXURY YACHTS IN TURKS AND CAICOS ISLANDS

The Turks and Caicos Islands continues to attract the rich and famous, both by air and sea. Over the Easter weekend, several luxury yachts were seen berthed at the Blue Haven Marina, in Leeward, Providenciales. One of the newest marinas in the region, the channel depth when entering the marina is 8.5 feet at low tide, and it offer slips for yachts up to 220 feet. Several of the yachts are seen in this photograph.

looking at the proposals which law firm or entity was promoting the proposal, but ultimately it was the ministers in Cabinet that would have approved the concessions but that was within their authority.” Jones, who is an economist, said his ministry had to establish a stabilization programme to control expenditure. “One of the main issues was that while the economy was still growing, the rate of growth of expenditure far outpaced the rate of growth of revenue,” he said. “So while we had accumulated funds, based on the fact that you were spending more

than you were taking in, it meant that you were running down the past savings and effectively what it meant was that any money that was in reserves was actually being run down and that is why we had to put a stabilization plan in place.” In relation to the spending of departments under former Premier Michael Misick, Jones told the court that between 2007, 2008 and 2009 it was “fair to say that it was a problematic area”, particularly in some heads such as hosting and entertainment, the Tourist Board and others that all presented challenges to the Ministry of Finance.

Jones also told the court that the responsibility of Government ministers was “broadly of a policy nature”. He noted that ministers were not involved in fiscal policy on a day-today basis and they could not sign or authorise day-to-day expenditure, neither could they authorise money from the Consolidated Fund. He stated that if Government ministers wanted to go outside of the budget, they could go to Cabinet and get approval and this was done in some instances.

Young people still going to Anglican Church - Page 7 Doug Parnell slams Oswald Skippings - Page 16


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.