Less than two weeks ago the Anguilla Chamber of Commerce and Industry, and the Anguilla Government, met to discuss various matters of interest to themselves and the island on a whole. In broad terms, the issues included business development, how both entities can collaborate – what they can achieve towards that end, and what Government can do to create a better operational and investment climate in Anguilla.
Some of the critical issues identified by the Chamber were the need for lower customs duties and other taxes more support to foster the growth of small businesses which sometimes are forced to carry the burden of taxation; the need to reduce energy/fuel costs and surcharges; greater support for tourism as the island’s critical economic driver; the need for better access to Anguilla; and the prolonged banking situation.
Those pinpointed issues were by no means exhaustive as there are various other difficulties which impact general development in Anguilla and diminish our chances of really moving forward and competing with some of our better off neighbouring islands. It is noteworthy that the meeting was initiated by the Chamber, and this must be applauded because it is in fact the business community that helps to drive our economy. Obviously, the Government recognises this and turned out in almost full ministerial numbers – and was a keen player in the discussions.
Mr. Victor Banks, Chief Minister and Minister of Finance, Economic Development, Industry, Commerce and Tourism, took the lead in responding to some of the issues. He responded mainly to Mr. Keithley Lake, President of the Chamber, whose opening remarks touched on a number of the above matters. It was quite in order for the Chamber not just to invite, but to demand, the Government officials to its meeting because unless the two work together Anguilla will be the poorer in its economic and fiscal development, and Government will be in an unhappier situation. Certainly, one of the criticisms of successive Governments of Anguilla has been their failure to encourage and support small business development, while dishing out hefty concessions to bigger properties and, in the process, losing out on large sums of money which could substantially strengthen the coffers of the Treasury.
It is still a long way to economic recovery in Anguilla and the island has no real dependable and regular foreign assistance coming its way. Notwithstanding that there is evidence of high levels of poverty in the various communities and economic and financial stagnation on a whole on the island, the UK Government appears to be unsympathetic and indifferent to the needs and wants of Anguilla – and too often the territory has been dismissed as being well off and grants which should be channeled to us are diverted elsewhere. Yet we find that Anguilla is on the receiving end of calls for higher and broader levels of taxation; legislation and regulations to control borrowing, investment, expenditure and matters of procurement. Of course, there must be fiscal responsibility and thrift on the part of our political leaders. We must never find ourselves in a situation where we cannot impose and exercise curbs on our own governance and thereby allow others to do so for us – like the proposed and widely criticised Anguilla Public Finance Order-in-Council.
It is the need for economic and financial assistance, and the stringent oversight of our governance, that should impel our Government not just to seek constitutional independence, but to work towards lifting up ourselves “by own bootstraps” and to exploit ways and means of economic sustainability. Given our present dilemma, any worthwhile and credible avenue to attain that level of self-sufficiency should be grabbed without delay. Our own Chamber of Commerce and Industry is a critical partner in determining what avenues to pursue because, as indicated above, business development is a sure way to achieve some of our fiscal goals.
Government and the Chamber should continue to strengthen their partnership in development to help rescue Anguilla from a hostile economic and financial environment. Perhaps through this engagement we may eventually secure a reasonable niche of prosperity.
