BVI’s Reserve Fund will take a hit from VIP gov’t, Penn warns
Opposition Leader Marlon Penn has warned that the Andrew Fahie-led Virgin Islands Party government is going to raid the territory’s Reserve Fund to execute promised projects before the upcoming elections.
Speaking on the NDP radio programme last evening, Penn questioned where funding for an expected financial shortfall in the high school redevelopment project would come from if requested pledges by the Premier did not materialise.
After explaining that bids submitted by contractors had exceeded estimates prepared by the Recovery and Development Agency (RDA) by more than $4 million, Premier Fahie requested millions of dollars in pledges from business owners in the territory to make up the shortfall.
“I am challenging seventy companies especially in the Virgin Islands to each make a donation of no less than $60,000 towards the Elmore Stout High School redevelopment project,” the Premier said at the contract-signing ceremony for the project.
And although the Premier said his government has access to monies it could use to fund the project, he explained that he preferred to go in another direction.
Pledges are no guarantee
Opposition Leader Penn argued that the requested pledges offered no guarantee of funding for the project, especially given the five-month timeline for completion.
“If those pledges don’t come in, where are they going to go? Back into the Reserve Fund. The Reserve Fund is the place that we are going to go to get those additional monies to get those projects going,” Penn contended.
“The Reserve Fund is going to get a hit and I want to get the public ready for this,” he warned.
“All these projects that you are seeing that we are promised, that are being promised, that are being started and the adequate funding is not in place to get them going, the Reserve Fund is going to take a hit,” Penn continued.
“We are going to fleece it to just to play political games leading up to the elections,” the Opposition Leader said while referring to government. “We’re going to empty the Reserve Fund.
“Public, pay attention,” he urged. “They are going to go after the reserve fund money and I’m sure they’re still trying to get after the Social Security [Board] money, to get at that grant money.”
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The VIP will spend every red cent of the government money to remain in power. At the end of their term the BVI will be in real financial difficulty. You really carry ourselves to a fine market when we chose to give the purse strings to a man who we knew we couldn’t trust with it. May God help us.
Your party wasted million and even more and it didn’t benefit us the people. If the use some of the reserve to complete the High School at least it will benefit this and future generations.
Sir, Excuse me, but we punished the NDP and took a chance with Foy Boys who were on their knees begging to police themselves and turn things around.
We even hired a so-called bulldog and champion from the East to be the watch man, he turned out to be a total Dr. Deception. (I don’t know what is up with these doctors turn politicians).
That 7 million NDP wasted on that airplane is no excused, however the 40-mill spent on the farm bill along with the new greedy bill, is more than enough for us to sit back and not punish both parties.
You (VIP) promise to do better, and you turned out to be another disgraceful party.
You may have done some good works, however if you are engaging in such lawlessness as you got into office and in your first term, just imagine what will take place after a reelection?
It is time to ask all those seeking off to run at large, all 13 including the speaker of the house and the attorney general. We need a total transformation.
Look here this is a sensible comment.
You’re such an idiot! NDP did a very bad deal with the airplane, nothing was found on the wall investigation! Nothing! Get a life, take the blind folds off. Let’s talk about the 40 Million from Social Security, the fake farmers and fisher men that received stimulus. Brand new top of the line escalades valued at more than 100K. Barges being paid thousands daily when the UK offered free help. Parading up and down with body guards for thousands monthly. More than 5 million on lawyers for the COI. Another 1.2 million for the lawyers again. CSC contracts, up to now we don’t know wtf he does. Consultants to help them do their jobs at 120k per year. May I continue? We tired of the plane talk, it’s old and nothing compared to what has been spent in 3 years!
SPOT ON……
NDP no better
This is the same dude that fuss about using social security money on the stimulus packages. This is the same dudette who wanted to use the reserve funds on stimulus. Now the governing trying to get we little education system back up this thing start complaining about reserve funds. Can this hinuorsble dunce name something the reserve should be spent on? Education in emergency from them hurricanes. Even a fool know better. I am a 8 district voter and I say use a little of the reserve on education if we must.
you must be mad buh ask local business… you must be mad!!!