While the Anguilla Social Security Board was busy with the observance of its 39th Anniversary, this week, it also had to spend some time giving evidence about its financial arrangements to the Public Accounts Committee (PAC), an arm of the Anguilla House of Assembly.
The inquiry, held at the Magistrate’s Court, on Tuesday, November 5, was presided over by PAC’s Chairperson, Ms. Palmavon Webster, Leader of the Opposition in the Anguilla House of Assembly.
Along with her were Committee Members, Mrs. Evalie Bradley, Ministerial Assistant in the Ministry of Home Affairs; and Mr. Paul Harrigan, the Second Nominated Member in the House of Assembly, who spoke by video conference link from overseas. Dr. Anna Dickson, who is on an attachment as Clerk to the Committee, from the Commonwealth Parliamentary Association in London for three months, sat at the head table with Ms. Webster and Mrs. Bradley. The Committee originally comprised a fourth Member, Mr. Terry Harrigan, who was later elevated to Speaker of the House of Assembly. Arrangements are being made to appoint a successor.
Those who were interviewed at the evidence session were Mr. Timothy Hodge, Director of Social Security; The Actuary, Mr. Hermando Perez Montas; and Permanent Secretary, Finance, Dr. Aidan Harrigan.
The Terms of Reference for the inquiry were set out as follows:
“Following the Public Accounts Committee evidence sessions in 2018 on the Government’s financial standing, the Committee is conducting an inquiry into the medium to long term financial sustainability of current social security arrangements. The Social Security Board considers that it has performed well as a model. However, it has loaned a substantial sum of money to the Government and has invested, through its subsidiary, ASSIDCO, in the Cinnamon Reef project which has thus far failed to yield returns.
The Committee requests written evidence on:
1. The financial strategy of the Anguilla Social Security Board, and the cost and demand pressures on that strategy;
2. Potential changes to pension contributions in the medium to long term;
3. The implications of the Government’s debt of $214 million on the financial standing of the Anguilla Social Security Board;
4. The current financial position of ASSIDCO [a subsidiary of the Social Security Board which invested in the Cinnamon Reef project on behalf of the Government with a currently unpaid loan] and plans to remedy the impasse with the Government;
5. The decision-making process for funding projects under the Development Fund and the post-project evaluation of those projects.”
On October 30, the Social Security Board provided the written evidence to the Public Accounts Committee as was requested. The oral evidence session on Tuesday, November 5, was a follow-up question and answer period which lasted about one hour.
The interview session went very well without rancor or other difficulty. It was a very smooth and informative event with both sides respecting each other’s position.
The Public Accounts Committee is one of the key Standing Committees of the House of Assembly, set up under the Legislative Assembly Rules, and is provided for in the Anguilla Constitution. It is headed by the Leader of the Opposition.
