‘Absolute rubbish!’ – says Hon Fraser on Govt's claims for violating Protocols
In a comment to this news site, Honourable Fraser reminded that he was the one to call out the Premier following the signing of the Protocols on April 23, 2012, calling it a poor deal for the Virgin Islands.
“When the Premier signed the Protocols on April 23, 2012 relinquishing the territory's right to borrow up to 30% of the Social Security Board's Pension Fund without having to seek approval from the UK Government regardless of our standings with the Borrowing Guidelines, to having to seek approval from the UK Government to borrow any money at all, I was quick to declare the Premier a sell out and a poor negotiator,” he said.
Hon Fraser said in like manner, he spoke out when in those same Protocols the Premier again relinquished the advantage of having all the cash across all the Government's various Funds counted as Reserve Funds, to having to establish a separate and distinct inaccessible Fund referred to as the Reserve Fund of 25% of the Recurrent Revenue which at the end of 2015 would have been $75 million.
“Not only was I quick to declare the Premier a sell out and a poor negotiator, I was also quick to declare that his Government would collapse due to his inability to run the country after being deprived access to cash," he said.
Honourable Fraser called the Protocols for Effective Financial Management as signed by Premier Smith “a disaster” for the Territory if properly executed, “but like we have seen, and as admitted by the Premier, he has been able to do exactly what the Opposition has been charging his Government of doing for years, which is violating the Protocols without hindrance.”
According to Honourable Fraser, these violations have been reported in the House of Assembly, reported to the Governor, and to the Foreign and Commonwealth Office (FCO), and nothing was done.
Honourable Fraser said that instead, the FCO has consistently rewarded the Premier by allowing his Government to borrow record amounts of money despite being in breach of the Borrowing Guidelines.
He called this behaviour by the FCO an abandonment of their obligations to hold the NDP Government to their agreement under the Protocols.
“And has led me to conclude that the Protocols for Effective Financial Management is not worth the paper it's written on. And the Premier and the FCO have both deceived the people of the Virgin Islands.”
Follow Us On
17 Responses to “‘Absolute rubbish!’ – says Hon Fraser on Govt's claims for violating Protocols”
Seems like Fraser has finally woke up as Opposition Leader...The NDP getting away with all kind of sh*t!
Do you guys really think most BVI people give a @#$% about fiscal responsibility? Everybody wants their piece of the pie and they don't care how it affects the country on a whole. Stop blaming politicians and blame yourselves because no matter who is in power they will always bow to the pressure of greed or faced being a one-termer, that's the reality. We need to stop acting like we give a sh*t when we really don't. Every time we need something it's Government Government but at the same time we pretending to be shocked when the amount of spending is revealed.
Or even if an individual wants to help teach students on his own time, they might fine him $100,000 for not being registered?
What is the government doing to encourage participation in having people do things for themselves? And why is a big overpay for the cruise ship park considered (*woops*) a mistake instead of what it is... ignorance, miscommunication, self-importance and ego? pier park leaves us with a PERMANENT record of incompetence and poor judgement. So, government... what are you going to do to engage the people? And why are you ignoring the protocols which you dishonor- whether you like them or not?