THE VINCENTIAN PDF - 12-01-24

Page 1

FRIDAY, JANUARY 12, 2024

VOLUME 118, No.02

Crash inquiry begins Page 2

www.thevincentian.com

Ram goat salvation Page 6

BUDGET 2024

Canouan Island Party Page 11

EC$1.50

LIAT (1970) Ltd. no more Page 13

Gov’t does not care Page 20

SOME THINGS THAT HAVE INCREASED

* AIRPORT SERVICE CHARGE from US$40.00 to US$55.00 effective May 01, 2024. * NIS contribution from 10% to 12% - June 01, 2024

The following measures (increases)are expected to yield approximately $6,730,000 in additional revenue in 2024. * Driving Permit (1 year) from $100 to $125 * Driving permit (3 years) from $275.00 to $345.00 * Driving Permit (5 years) from $425.00 to $535.00

Continued on Page 3.

NIS REFORMS TO BE IMPLEMENTED by DAYLE DA SILVA

Camillo Gonsalves, Finance Minister, warned that without reforms, the NIS will not be able to continue meeting its obligations beyond the year 2035.

THE LONG-ANTICIPATED REFORM MEASUREs to ensure the viability of the country’s pension plan as administered by the national insurances Services (NIS) is set to begin this year. And according to Camillo Gonsalves, Minister of

Finance while delivering the 2024 Budget address on January 8, “The question is not if we should reform, but when, and by how much.” The finance minister added that the approved reforms, once fully implemented, were expected to secure the financial future of the Fund and ensure that

the NIS remained the best investment for Vincentian workers.

Increase in monthly contribution Among the measures announced was a gradual increase of workers’ monthly contributions to the NIS,

beginning on June 1 this year. The monthly contribution was expected to move from 10 to 15 percent over a threeyear period. The first increase in employees NIS deductions will occur later after June 1, Continued on Page 3.


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