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Vindicated again! Country not broke when VIP left office- Report

- Auditor General confirmed that the VIP left Millions & Millions in the Treasury after they were defeated in 2011 elections, with almost $70 M in Consolidated Fund
In the Auditor General’s Report ending December 2011 laid in the HoA last week, it again confirmed that the National Democratic Party (NDP) had lied to the territory when it said the Virgin Islands Party had left the territory broke. Photo: VINO
Contrary to what Premier and Minister of Finance Dr The Honourable D. Orlando Smith (AL), left, told the public, the former Premier and Minister of Finance Hon Ralph T. O’Neal OBE left the country with millions of dollars. Photo: VINO/File
Contrary to what Premier and Minister of Finance Dr The Honourable D. Orlando Smith (AL), left, told the public, the former Premier and Minister of Finance Hon Ralph T. O’Neal OBE left the country with millions of dollars. Photo: VINO/File
ROAD TOWN, Tortola, VI- The public remembered the infamous lie told to people following the 2011 general elections that saw the National Democratic Party (NDP) come to power.

The scathing untruth was told by Premier and Minister of Finance Dr The Honourable D. Orlando Smith (AL) in a public broadcast in 2012. Dr Smith had said the government they had just defeated had left the country broke.

While Premier Smith was forced to eat those words in many answers to questions posed by the Opposition Virgin Islands Party (VIP) between 2012-2015 in the House of Assembly (HoA) that showed the VIP Government of Premier and Minister of Finance Hon Ralph T. O’Neal OBE left the country with millions of dollars, yet another report has confirmed that Premier Smith was fooling the people.

Good news in report for VIP

In the Audit Report ending December 2011 laid in the HoA last week, it again confirmed that despite a deep world recession the VIP managed the British Overseas Territory’s finances very well.

According to the then Auditor General, Mrs Sonia M. Webster, the public debt at the end of 2011 stood at $116,807,696, and the Reserve Fund had a balance of $7,446,751. The Consolidated Fund had a balance of over $66,828,117.

In addition, despite a recession under the VIP, there were two areas that performed extremely well, the Financial Services Sector and Rentals, both areas bringing in revenue of over $14.2 M.

Not all is well

The Audited Report not only gave a glowing assessment of the VIP stewardship but the Auditor General Mrs Webster was very concerned about the practice of Re-Allocation Warrants. She noted that they could be a cause for irregularities; however, the 2011 Audited Report never mentioned wrong doing ever took place.

The Public, the media, civil society, the United Kingdom appointed Governor John S. Duncan OBE and the Foreign  and Commonwealth  Office are now demanding loudly to have the other reports from 2012-2016 under the ruling NDP.

In addition, former Opposition Leader Hon Julian Fraser RA (R3) raised the issue of the 2011 Auditor General report being laid on the table of the HoA without the Accountant General’s financial statements showing what was audited and that of the Financial Secretary’s response on the report, which is the normal practice for Audited Financial reports before they reach Parliament.

35 Responses to “Vindicated again! Country not broke when VIP left office- Report”

  • cay (26/04/2017, 21:09) Like (38) Dislike (1) Reply
    was finally waiting on the truth thanks vino
    • @ cay (26/04/2017, 21:25) Like (25) Dislike (1) Reply
      Another NDP LIE falls!
    • @Cay (26/04/2017, 22:48) Like (19) Dislike (36) Reply
      What truth? Money was there but the bills they left wiped out the money so yes, they left the country broke. In fact, the contracts signed the day before elections was more than the money left in the treasury. Don't be fooled by this report.
      • Outlaw (27/04/2017, 06:33) Like (30) Dislike (4) Reply
        @@Cay, what bills you really talking about, the money must have been wiped out because they took up over $7000000 and paid it to themselves (OC) after the court had ruled that the government was not indepthed to OC. They hired all their cronies as consultants, and speed writers paying out hundreds of thousands and the list goes on so tell me in a broke country, how was that possible. Some of us are too blind to see the reality of the day and will always dwell in the shadows of darkness just for a few political benefits
      • Firma (27/04/2017, 09:34) Like (5) Dislike (3) Reply
        @ @Cay: Contracts might have been signed the day before elections yes, but no works were done, therefore no monies needed to be paid out. You can double check!
        • @firma (27/04/2017, 23:05) Like (0) Dislike (0) Reply
          Contracts signed had to be honored or the government could have been held liable and loose much more if taken to court. I check and the contracts were paid out. They had to be paid.. You all know how that works. Money paid out to OC was after the fact when the government got the money from FSC. It was not paid from the balance left by VIP because it was contracted out already.
  • ta ta (26/04/2017, 21:14) Like (23) Dislike (1) Reply
    It is 2017 so why is 2011 Audit just coming out?
    • dog (27/04/2017, 11:13) Like (16) Dislike (0) Reply
      In trying to deflect the call for NDP audits, THEY called for VIP audit report in hopes of embarrassing the VIP.
      But surprise! If you have nothing to hide, comply with the law! If you do have something to hide, be a grown-up
      and own up to it. And yes, more reports need to be made public and FINISH the past Audits PLEASE!
  • fish (26/04/2017, 21:15) Like (35) Dislike (1) Reply
    wasn’t that in the heart of the great recession 2011 and still the vip did well
  • -------------------- (26/04/2017, 21:20) Like (47) Dislike (0) Reply
    Now please roll out the audits under the NDP government.
  • Niko Noga (26/04/2017, 21:25) Like (47) Dislike (2) Reply
    It's about time these politicians STOP toying with people's lives. Shame on Dr. Smith and his political gang.
  • wize up (26/04/2017, 21:27) Like (6) Dislike (15) Reply
    There is mostly 3 sides to every story !!!
  • qc (26/04/2017, 21:27) Like (27) Dislike (0) Reply
    There are credible questions on the effectiveness of these reports, but there's no question that the Government of the day is playing too much politics
  • i from here (26/04/2017, 21:34) Like (33) Dislike (0) Reply
    after we get the 2012-2016 financial reports I will sing: Round them up. Send them off. Seize their assets next.
  • $66,828,117 (26/04/2017, 21:43) Like (32) Dislike (4) Reply

    Not broke. Thanks VIP for keeping our head afloat in the damn recession this administration blaming their downfall. They'll rot in hell for their miserable wicked sh**t they do this country.

  • Amazed (26/04/2017, 21:48) Like (40) Dislike (0) Reply
    politicians in the BVI seem to lack both morality and integrity, so I will not hold my breath and suffocate while waiting for the 6 (2012-2017) audited financial reports under the current government
  • Other Journalist (26/04/2017, 21:54) Like (14) Dislike (1) Reply
    What was those other articles were trying to say,and here is the truth.
  • 911 (26/04/2017, 21:56) Like (25) Dislike (1) Reply
    My message to Dr ZZZZZZ and his gang: We are so experienced to be taken for a ride!

    Keep eating a food!
  • Really? (26/04/2017, 22:12) Like (1) Dislike (12) Reply
    How much did they owe is the question!!
    • Jacperlance (27/04/2017, 06:43) Like (18) Dislike (0) Reply
      @Really, read the story, it's says what the public dept was. And the public dept does not mean you have to take up every cent from the consolidated funds or reserve and pay it off, it's been paid in installments, just as how you paying a mortgage in the bank.
  • wize up (27/04/2017, 03:29) Like (8) Dislike (8) Reply
    If you broke and desire to get rich in a hurry simply join a BVI political party(all of them love that cookie jar)....the worst thing in the world is to defend political parties some of us defending and some of us will only hear from the politicians just before the election: all of them have their special interest friends(the VIP mismanaged the tax payers money/NDP mismanaged the tax money) at the end of the day none of the culprits are prosecuted(what a country) NDP/VIP whichever P same dam thing once in office looks out for their family and friend(runnnnn talk that!!)
  • i from here (27/04/2017, 06:42) Like (12) Dislike (9) Reply
    If I have $70m in my Bank account and have $150m in bills to pay it means I am BROKES!
    • Interest Opportunity (27/04/2017, 07:22) Like (17) Dislike (0) Reply
      Will you pay off a $150m debt if you have $70 m cash sitting on. Looks healthy to me that monthly payments can be met.
    • wize up (27/04/2017, 07:43) Like (1) Dislike (8) Reply
      @ I from here: talk the truth(i wid you on this one)....3 sides each story????!!!!
    • rewrsdffds (27/04/2017, 19:44) Like (0) Dislike (0) Reply
      So I guess that you don't have or never had a mortgage. Or you had a cash secured mortgage. People have debt higher than their cash reserve. But have the ability topay bills.

      The ratio of debt to cash is not a bad one.

  • hoops (27/04/2017, 07:31) Like (1) Dislike (7) Reply
    When it comes to the vip you don' t want here about there mess sham an you
  • tretretrete (27/04/2017, 07:57) Like (12) Dislike (0) Reply
    who else to blame now? now let's get those audits for the NDP. shame on them
  • wow (27/04/2017, 08:00) Like (15) Dislike (4) Reply
    the ndp is caught in another lie and in other breaking news water is still wet
  • wow (27/04/2017, 17:00) Like (0) Dislike (6) Reply
    What ah load of Crap this is, and I don't care if you post this comment. They had Reserve Fund had a balance of $7,446,751 when the NDP left over 64 Mill and you are telling me we were not broke?
    • Virgin Islander (28/04/2017, 10:36) Like (2) Dislike (0) Reply
      All I'm going to say to you reading and understanding what you've read is fundamental.
  • facts man (27/04/2017, 17:01) Like (3) Dislike (1) Reply
    Ha ha ndp got egg on their faces
  • he going lie on this too (29/04/2017, 21:56) Like (0) Dislike (0) Reply
    just that myron is fighting for himself.
  • Read (29/04/2017, 22:06) Like (0) Dislike (0) Reply
    Thank you VINO for a sincere effort to be fair and balanced.
  • persia (29/04/2017, 22:14) Like (0) Dislike (0) Reply
    Either we are a nation of laws applicable to everyone including the richest and most powerful among us or we are not.


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