$40M stimulus grant handed over to VIP Gov’t by SSB
The check signing and presentation was done today, July 3, 2020, in the presence of Premier Fahie, Minister for Natural Resources, Labour and Immigration, with responsibility for Social Security, Hon Vincent O. Wheatley (R9); Financial Secretary, Glenroy A. Forbes; Social Security Board Director, Antoinette Skelton and Chairman of the SSB, Ian S. Smith, among others.
The handover of the money comes after Premier Fahie has been threatening to call names of persons who have been trying to block or delay the money already promised to Government by Social Security Board.
‘Strong leadership’
During the announcement of the Phase 2 Economic Stimulus Plan on May 28, 2020, Hon Fahie had said Government has been trying to avoid touching the taxpayers' piggybank “because we understand that the hurricane season is upon us, seismic activity in the area is continuing, and COVID-19 has not been eliminated, hence we have to leave room in case, God forbid, the BVI is struck by a disaster.”
Left with no alternative; however, Hon Fahie said his Government reached out to the Virgin Islands Social Security Board which has agreed to provide the people of the British Virgin Islands with a special COVID-19 grant in the sum of $40M towards efforts in providing social and economic relief and stimulating economic activity.
“The Social Security Board is committed to strong leadership and prudent investment of funds. They have been able to accumulate funds to help out the Territory in its time of need,” Premier Fahie had said.
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27 Responses to “$40M stimulus grant handed over to VIP Gov’t by SSB”
He said it in HOA
Government too lackadaisical and that is why UK behaving the way they are. $40M for how many? Keep behaving as if money falling from trees! If you give $40k to 1,000 families that is $40M and that $40k should last a minimum of 1 year. Are there 1,000 families who have no source of income because of unemployment?
You also need to read the news instead of just commenting then you would know where the money is going.
This 40M is not a loan
This 40M is not an investment.
This is a G I F T....not what we signed up for. So some of u...kiss your old age benefits good bye.
Agreed it should have been a loan. If we keep doing this there will be nothing left when I reach 65.
Will it reach the people who really need it. That my friend is the 40 million dollar question.