Tuesday evening, this week, August 19, saw a public forum on “Anguilla Social Security Board’s Performance from 2005 – to Present”. That was in fact the overarching title of the presentation. Included was an overview of plans for the introduction of the much-talked about, but much-delayed, National Health Insurance Pilot Project; a financial report; a report on investment and development; and the staff pension fund.
This may have been the first time that such a comprehensive examination of the preformance of the Social Security system was presented by the Board in discussion form, with the inclusion of a National Health Insurance System. But it is known that, in addition to similar presentations in the past, the Director of Social Security normally provides a great deal of information in his usual all-embracing Annual Reports.
Ignoring some of the obvious political overtones in parts of the Chairman’s presentation on the overall topic, Tuesday’s entire detailed presentations were generally informative, well-scripted and well-explained both in terms of language and figures not too difficult to comprehend. What it all entailed was a measure of pride in an institution, such as Social Security, which our revered Revolutionary Leader, Mr James Ronald Webster, thoughtfully created, at the turn of the 1980s to provide a workable form of social development with eventual and long-term benefits for the people of Anguilla, and as a sensible outcrop of the 1967 Revolution.
The reserves in the Social Security Fund, amounting to some three hundred million East Caribbean dollars, and the fast-growing potential of the system, are certainly praiseworthy. Clearly, if the economy and the fiscal and employment situation had not suffered so badly from the gruelling depression, following the booming years in Anguilla, there would have been even greater reserves as well as investment and development opportunities for social security. The inability of the Government to rejuvenate the economy, and to boost employment as was promised before, and after the 2010 general election, has also been a major factor in stalling the growth of the Social Security Fund as well as the varied accruing benefits.
There is also much reason for commendation if, at last, steps are now being taken to initiate a National Health Insurance Pilot Project which, as indicated above, has been on the drawing board for quite some time. Really, notwithstanding the dilemma of the Chief Minister (and Minister of Finance) to do away with the Interim Stabilisation Levy, used for boosting the budget, the National Health Insurance System must be allowed to commence and to function as another social development provision for our people. When that finally happens, the citizenry of Anguilla will have something else to rely on in times of need – and certainly to be proud of – health care insurance.
The spotlight on the development and benefits of Social Security in Anguilla has come at a time when our two indigenous commercial banks are under the control of the Eastern Caribbean Central Bank for a year now. This is after the extension of the initial six months, and it is unfortunately unclear how much longer this control will go on as “all parties continue to work together to arrive at a suitable conclusion.”
If that action of conservatorship was deemed necessary to rescue the banks from collapse, as was articulated by the Central Bank, then, so be it, but at least two matters need to be given special attention. The first is the need to keep the people of the island, who really own the share capital of the banks, fully and frequently abreast as much as possible with the resolution progress. The second is that “the rescued mission” must not be unnecessarily prolonged so that the integrity of Anguilla’s economy and institution ownership is not unduly compromised. Like the Social Security System, these financial institutions were acquired by Anguillians following their 1967 Revolution, and were a source of pride to them in the regional and international financial markets. Let us hope that that pride will return in due course.
Following Tuesday’s Social Security Board’s public forum, there must be more and similar public discussions on the performance of our varied local institutions. This will help to ensure that they are functioning smoothly, transparently and accountably – and that Anguillians can pride themselves in their ownership and establishment.
