Fahie promises enhanced contract-issuing laws under VIP gov’t
Opposition Leader, Andrew Fahie.
A law that will ensure more transparency in the way government contracts are administered might become implemented if the Virgin Islands Party (VIP) is elected as the next BVI government.
VIP Chairman and opposition leader Andrew Fahie is branding that law as the Contractor General legislation.
He said this legislation would ‘mirror’ the Recovery and Development Agency’s (RDA) mandate and ‘enhance’ the BVI/UK Protocols of Effective Financial Management agreement, which says: “All projects must be subjected to a tendering and procurement process that guarantees the highest level of transparency and fairness practicable.”
He said he wants to implement a Contractor General law because of post-hurricane reports that government had issued contracts without conducting the required tendering process.
“I have been singing for the last seven years – police ourselves or someone is going to police us in a manner that we all don’t like,” said Fahie on Wednesday during what he said was the first of a series of meetings he will hold as opposition leader.
Fahie said the Contractor General legislation will ‘prove to the world that the BVI can police itself when the RDA fulfils its mandate and is dissolved in the next five years.
Fahie further said residents can expect other legislation such the Freedom of Information Act, as well as policies that will improve already-existing public integrity laws.
He said he will also move to make Cabinet decisions public; except those which threaten national security.
Fahie, in the meantime, said if he becomes the next Premier, he will ensure local financial services providers are made to pay a recovery tax.
He said each firm would be required to make an average contribution of $5,000 to the BVI.
“If you do that for at least $300,000 companies, you will have $1.5 billion,” he reasoned.
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The only way you get to 300,000 companies is if you include all of the registered offshore companies. And if you charge a one-off $5,000 “recovery tax” on all offshore companies you will kill the offshore industry overnight (and nobody will pay – they will all redomicile to Cayman as soon as the Bill has its first reading).
I think he means that the Trust co’s here will be required to pay $5000 for each company for which they act as registered agents.
In principal not a bad idea. The $5000 is ludicrous of course but a lower figure, say and extra $250 per year is not a bad idea.
These trust companies are making massive profits that are remitted away from the BVI. They can easily afford $250.
Whether it is the trust companies themselves or the business companies, he will kill the industry immediately.
He should stick to the contract issuing laws.
When I listen to entire press conference he stated that it is a “one off” recovery donation from the companies of an average of five thousand dollars. I really believe that it can work. I am willing to give him a chance to make it work.
The annual RO/RA fee for a company is what, around $360? So if you charge $250 per year levy per company you would cut out 2/3rds of their revenues in tax? But presumably none at all if they migrate all of those companies to another offshore centre.
The trust companies charge their customer $1000 and more including their “collection fee “ for collecting the annual fee and the government gets less than half of it.
These trust companies are making fortunes from BVI offshore company formations and collecting fees.
I like that phrasing ‘might become implemented’. We know how the game is played whether VIP or NDP. They’re all the same!
Not so ……… I love you comment. The word “might” really tells that this is just talk to win votes. If he was serious he would have outright said “will be”. It is high time for everyone to stop playing politics.
Good for you Mr. Fahie. It is about time.
Yea, sure, riiiiight!
Fahie, in the meantime, said if he becomes the next Premier, he will ensure local financial services providers are made to pay a recovery tax.
He said each firm would be required to make an average contribution of $5,000 to the BVI.
“If you do that for at least $300,000 companies, you will have $1.5 billion,” he reasoned.
Is Fahie on the bottle? What the hell is he talking about? We do not have 300,000 firms in the BVI, we may have 300,000 companies registered at the Companies Registry and no way you getting them to pay the government $5K each. WTFFFFFFFFF?????????????????????????
I love it. Fahie have you all biting wire but I must admit that I firmly think that his ideas will work so you all keep getting high blood pressure. He will be the next Premier.
Sik ah he and his false positive bovine feces.
He will promise you the world until he gets in
Nice try but your negative views of Fahie are in the minority. Fahie will be a good leader.
ayo will learn about he
Will this be the same for tattoo them so?
You mean crab in the barrel them so
Promises, promises, promises, you might as well fart in my face. Wannabes will say anything to get elected, then…..
People like you make me sick. If he does nothing you complain. When he does something you fuss. It is a good thing that the majority of us in the BVI sees Fahie as a leader.
If he is serious then he should promise that the first – the very FIRST – thing the VIP will do is implement a strong anti government corruption law including strong whistleblower provisions and stiff penalties.
But I doubt he will.
He already said all of that would be implemented under a VIP government
He has just started and I love it.
You will have to better at numbers than that if you are going to be in charge of the big shiny cookie jar Mr Fahie.
The NDP done gone with the cookie jar so it doesn’t exist any more.
The naïveté of suggesting that we can tax the companies registered here highlights the need for a new form of governance.
Without any doubt each NDP or VIP Government has failed spectacularly to govern itself each minister has been attracted to government office because of power,influence and money and sadly this has attracted some from the church community which should have known better in my opinion! Far from being leading lights and beacons of transparency they have compromised their values and just gone with the flow – you know who I mean without naming and shaming….
Speak for yourself. I am giving Fahie and the VIP a chance this time because I know they will restore good governance despite what your one man view is.
Hon. Fahie keep the pressure on
FAHIE Just keep moving us in one direction–FORWARD!!!
Hon Fahie will try to intoxicate the voters with demagoguery. Any and everything that sound good. Hit or miss something must stick.
Good try but we the people have been robbed in the past 8yrs by any means necessary by the NDP. We can’t get robbed any worse. FAHIE and VIP ALL THE WAY this time.