Smith calls abrupt dismissal from ministerial role a hurricane
Former Deputy Premier and Minister of Financial Services, Lorna Smith, compared her recent dismissal from the BVI government to a hurricane.
Smith, who was speaking in support of the BVI Business Companies Amendment Number 2 Bill 2024, made the comparison while reflecting on her abrupt removal from office.
During a debate in the House of Assembly, Smith highlighted the significance of strong leadership in the financial services sector. She recalled the sector’s resilience in the aftermath of Hurricane Irma in 2017 and likened her sudden dismissal to another storm.
“I mentioned the hurricane of 2017, and I have to mention another hurricane that struck last week when I was dismissed from my position as the Minister of Financial Services,” Smith stated on Tuesday, sitting in the Opposition benches of the HOA for the first time.
Smith, who has served in various instrumental roles in the territory’s financial services, reflected on the numerous calls and messages of concern she had received following her dismissal.
“Since then I have been receiving so many comments, whether in the form of letters, telephone calls, and so on, about the fragility of our financial services and the importance of strong leadership,” she said.
Following her dismissal, Smith underscored the uncertainty within the sector and suggested that her dismissal heightened the appearance of instability within the government. Smith expressed her continued commitment to the industry’s success despite her removal. Speaking on the proposed amendments to the Business Companies Act, she emphasised the need for flexibility in regulation to support both local and international businesses.
She acknowledged that while the sector faces challenges, it remains resilient. “We are resilient as a financial services industry. We have proven it in 2017, and we must continue to prove it,” she remarked.
The amendments to the Business Companies Act, which Smith supported, aim to address issues such as the requirement for companies to file annual financial returns. These changes are expected to provide businesses with some flexibility while ensuring compliance with international financial standards.
Smith noted that the amendments would help both “the small man as well as the big man,” highlighting the potential benefits for the entire business community.
Premier Dr Natalio Wheatley highlighted a recent report to the Financial Services Commission showing that 25 to 30 per cent of BVI-registered companies have failed to submit annual financial returns despite the extensive outreach by registered agents.
To mitigate this issue, the Financial Services Commission will now have the authority to grant extensions for companies to fulfil their filing obligations. This strategy minimises expensive enforcement actions while ensuring compliance with legal mandates.
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WHEN SHE HAD ABANDONED THE OPPOSITION, WE HAD CALLED IT A TORNADO
Life will go on with or without you.
“Every dog has his day”
The train has already left the station.
NO MORE 1ST CLASS TRIPS…NO MORE POSH HOTELS….NO MORE FANCY RESTAURANTS…LOL
karma, you reap what you have sown
This woman again. Take a seat ah two. Your power hungry ra** was scheming to cross the floor again.. You were a double agent and got busted and got your a** fired. You are now in a waste land; can’t be trusted by both government and opposition. What a ting to tell the King. When one play with fire he gets burn and sometimes badly. Here is a warning. Leave snakes alone, for when disturbed, they attack with a vengeance. They strike, strike , strike……Doc find the stones to fire your rass. She is still in shock she was fired. You were fired. You were drunk with the power, status, influence, etc. and seems to be still high on it..Go home and get a prescription and get on with life.
@Quiet Warrior, agree that the situation was urgent with the clock ticking, the pin on the grenade pulled, etc, and a political explosion was on the verge to occur, bringing the government. The Hon Creque Smith was using what she had, ie, leverage to get what she wanted, viz, Premier. However, she needed a hermetically sealed, signed and delivered agreement before she blew up the place, bringing down the government. Nonetheless, the Premier Natalio Wheatley, given the circumstances with only one option —-kicking Lorna to the curb—which had to be urgently exercised. Any other decision would have been poor, weak,, no balls, etc leadership. He had to fire her. Anything would have political suicide.
Quiet waRR E WHO ❓️ WIGO KEEP NON YOUR YELLO SITE / you blogging like you own this site too , almost all the bloggings is by you ( using different names as usual ) yoy badmouthing this site / YET I WON’T KEEP OFF IT
she got outplayed, showande was playing chess while she played checkers
The downward spiral will continue.
No sun in the horizon, certainly not with the m**moo at the head.
The downward spiral will continue.
No sun in the horizon, certainly not with the m**moo at the helm.
She, a proven sincere giving of the best to these VI is understandably concern for the future of these VI. Unlike most of you varmints,she gave her all while you all washed ashore parasites simply take and will always be wanting. Her bread is buttered.
Could not have been a hurricane because we get ample watches and warnings before they hit. In her case she didn’t get any, so her firing was either an earthquake or a tornado ( in the bvi). Don’t think we ever got watches or warnings for any of these two.
In my opinion however, her firing was one of the biggest (if not the biggest) mistake in his political career.
actually what happened showed how the Premier is weak. Why didn’t he behave like a leader, take the letter to the member, discuss it and then leave. He is weak.
this Premier is bold. same one allegedly to use public funds to erect private wall and estate road.
All she needs to do is go back over and accept the post of Jr. Minister for Trade and Financial Services. The Premier can easily reshuffle and create the post.
days ahead for BVI financial services with 2 old dinosaurs in charge now. Wheatley and Fraser are both great at foolishly spending BVI’s money but completely inept at earning money for the BVI.
It seems like your government is a train going at 500mph without a conductor. May God have mercy.