Take it back! ‘We will not accept that rule’ - Hon Mark H. Vanterpool
The Sanctions and Anti-Money Laundering Bill received the Royal Assent and became an Act yesterday, May 23, 2018, bringing into force the United Kingdom’s move to impose public registers on Overseas Territories, including the Virgin Islands (VI), which will severely affect the economy.
Hon Vanterpool explained that as a result of the imperial legislation, the territory would lose approximately $200 million from its $300 million revenue annually, while pointing out that the pockets of the residents will be affected by this.
The rally was held on May 23, 2018, at the Market Square in Road Town.
“I want you to understand it because it will affect your pocketbook. Of the $300 million that we run our country as a government, they want to take away nearly $200 million which will change our lives completely,” Hon Vanterpool said.
He continued, “The United Kingdom government has decided that our financial services business, which attract hundreds and thousands of companies to register here the Virgin Islands under international law and international rules, that they want to be able to have public registry where their press, their people or anyone can go and look in that registry and see whose names are on those companies.”
The communication minister emphasised that this decision will discourage companies from investing in the territory.
“When that happens, the mere purpose of the privacy of those businesses being here would have been lost, and therefore we would have lost our financial services. That means that 400,000 companies who provide to us here in the territory some $190 million in revenue to the government, employment to many here in the VI and many others throughout the world, Hong Kong everywhere, it means that will be lost.”
Hon Vanterpool mentioned that the VI had upheld international standards thus far and emphasised that the people of the territory must stand up against this decision.
“We cannot stand and let that happen. It is going to affect many other parts of the economy,” he reiterated.
“Send a message to the UK”
Meanwhile, the minister encouraged residents to come out and march and not to stand on the side or look out from inside their homes.
“We must stand up and stand up for our rights. So tomorrow don’t stand by, stand at the side of the roads, or don’t stand in your homes peeping out, get up, get out and get to the Sunday Morning Well at 4.00 P.M.”
He continued, “Let us march down to the Governor, whether he is there or not. We want to send a message to the United Kingdom that we as a people of the Virgin Islands will not accept that rule and they better go carry it back where it come from.”
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8 Responses to “Take it back! ‘We will not accept that rule’ - Hon Mark H. Vanterpool”
MR VANTERPOOL you are right it will hurt our pockets because we were fool by the NDP Be care full with your words when the wise talk the fool listen.
was this not the same person who was saying he loves the British and they are good? and we must vote for the recovery board act and we will get hang if we don't.
Boss good from here