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No contributions to Reserve Fund for 1st 4 months of 2014 – Hon Premier

During the Seventh Sitting of the Third Session of the Second House of Assembly held on June 13, 2014, the Territory heard that there have been no contributions to the Reserve Fund for the first four months of this year. Photo: VINO/File
Hon Fraser had put the questions to the Hon Premier and Minister of Finance during the last sitting of the House of Assembly on June 13, 2014. Photo: VINO/File
Hon Fraser had put the questions to the Hon Premier and Minister of Finance during the last sitting of the House of Assembly on June 13, 2014. Photo: VINO/File
ROAD TOWN, Tortola, VI – Premier and Minister of Finance Dr. the Honourable D. Orlando Smith said that between the months of January and April 2014 there were no contributions to the Reserve Fund, which as at June 10, 2014 stood at almost $47 million.

He was answering questions put to him by Hon Julian Fraser RA, Representative for the Third District, during the Seventh Sitting of the Third Session of the Second House of Assembly held on June 13, 2014.

“Madam Speaker, could the Honourable Premier and Minister of Finance please tell this Honourable House what were the contributions to the Reserve Fund for each of the months January, February, March, April and May 2014?” asked Hon Fraser. 

“Madam Speaker no contributions were made to the Reserve Fund in January, February, March or April 2014,” said the Premier in response to the question. 

“Madam Speaker could the Honourable Premier and Minister of Finance please tell this Honourable House: (a) what is the current balance of the Reserve Fund? And (b) what is the current balance of each of the other established Funds?” asked Hon Fraser. 

“Madam Speaker the balance of the reserve Fund as at May 10, 2014 is $36,910,943.22. Madam Speaker as at June 10, 2014 the balance are as follows; Consolidated Fund $46,896,590.81; Development Fund $4,054,303.13; Emergency Fund $1,112,816.59 and Pension Fund $1,019,945.21,” responded the Premier.

7 Responses to “No contributions to Reserve Fund for 1st 4 months of 2014 – Hon Premier”

  • just asking........ (25/06/2014, 08:57) Like (2) Dislike (0) Reply
    Where the money gone?
  • pete (25/06/2014, 10:34) Like (1) Dislike (0) Reply
    that's not much when you consider all the development plans ahead. First things first. Also, the US economy slowed by 2.9% this last quarter so it is no wonder that the trickle down is that our economy has slowed some 12%. And that was only measured by one month and not a quarter as suggested. Micro managing waves can't be done, but safety measures can be looked at. And that doesn't necessarily mean big hotels, airport or shopping mall at the dock. Let's take the slow time to fix basic services.
  • farmer brown (25/06/2014, 12:04) Like (3) Dislike (2) Reply
    Fraser and the vip will win the next election
    • Kingfish (25/06/2014, 14:13) Like (2) Dislike (1) Reply
      @ farmer brown:

      Why because there was no contribution made to the fund for the 1st quarter, remember Mr. Fraser wants to spend all the funds in the Reserve Fund.
      • @@@@@@ (26/06/2014, 07:32) Like (0) Dislike (0) Reply
        I have never ever heard soon to be premier fraser say he wants to spend all the money mw stop tell lie and with the usual propaganda
        • Read (26/06/2014, 09:06) Like (0) Dislike (0) Reply
          Maybe you should read the newspapers to find out what " soon to be premier said".


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