On Wednesday, July 17, the Chamber of Commerce and Industry’s Economic Forum on partnering to promote growth and development in Anguilla stirred much debate from its participants on ways to drive the economy forward.
However, what was clear from some members on the floor, especially from the private sector, was that introducing new taxes was not the answer to solving Anguilla’s economic woes.
One such tax that will inevitably come on stream is the Value Added Tax.
In responding to questions from the floor, Principal Assistant Secretary in the Ministry of Finance, Dr Wycliffe Fahie, emphatically stated that he was not a promoter of taxes.
However he made it clear that if there were to be no taxes Government would have to make radical changes either by reducing the size of government or the Civil Service.
“Regardless, there will be revenue needs for Anguilla in a way that we can take care of the less fortunate and we must build up reserves. It doesn’t make sense to make a million dollars over the next two years and none for the next twenty years,” Dr Fahie pointed out.
He said officials in the Ministry of Finance were at the stage where they were dealing with consultants and that technocrats were getting familiar with the intricacies of VAT.
During the forum, Mrs Melinda Goddard of ClienTell LLC made an interesting presentation entitled Anguilla 44: A Vision for Prosperity.
It outlined the state of the economy and government’s revenue over the past years. She also addressed the VAT which she pointed out can have an adverse impact on the economy.
In her presentation she highlighted various areas where Anguilla can improved on a vision for prosperity base on- A national re-commitment to earning external revenues; an immediate economic solution through Christmas occupancy; 44 weeks of Christmas as a vision and goal for tourism and the rest of the community; And…a new marketing agency in 2013 for rebranding and renewed awareness (Clients in Angtigua, Aruba, Bahamas, Barbados, BVI, Nevis, St Lucia, Turks and Caicos-Anguilla!)
Her presentation was well received from the floor to which Ms Pamovan Webster challenged government to run with the idea of Anguilla 44: A Vision for Prosperity so that the island can be on a good and sustainable footing.
The forum was attended by Chief Minister, Hubert Hughes, Parliamentary Secretary, Haydn Hughes and various personnel in the Ministry of Finance, Economic Development, Tourism, Investment and Commerce, as well as members of the private sector.
