The Editor
The Anguillian
2nd January 2013
I was intrigued by our Chief Minister’s opening message to his Christmas speech as it was very different from others that appeared in The Anguillian last week. The Chief Minister has quite rightly identified that there is poverty and conflict in Anguilla and that it is due to the lack of investment: both local and foreign. However, the Chief Minister and I differ in our beliefs as to what has caused investors to stop investing in Anguilla. Anguilla is no different from other countries being hurt by the international economic downturn, and being a small economy that is highly dependent on new construction to create jobs. It was particularly hard hit. Now that the North American economy is turning around, investors will invest in Anguilla if they think they will get a return on their investment. A very simple statement but investors also tend to avoid risks. The Chief Minister with his anti-colonial rhetoric, which reminds me of speeches of Caribbean Union leaders of the sixties, is not going to attract investors, neither local nor foreign. Investors like to know that there is a sound, stable government that is not going to suddenly change the fiscal environment during the time that a project is created. They do not want a sudden change in agreements on taxes or exemptions just because a politician is losing popularity with its voters.
The Chief Minster has said how the FFR (Framework for Fiscal Responsibility) is not in Anguilla’s interest, so I went back to the version that The Anguillian printed back in September of last year to try to identify what he was talking about because he has only spoken in general terms. This fiscal framework which has been signed by every UK overseas territory, except Anguilla, would actually encourage responsible investors. The reason I say this is that it encourages economic planning, something that Anguilla has been badly lacking in the past. Not only does it say that there should be a midterm plan, but it also says that investment projects should fit into the planning framework. In other words, if some investor comes along and offers a sweet deal to a politician, then that politician will have to justify how it will fit within the plan and how it will benefit Anguilla. Nothing is wrong with that. The FRR goes on to say that any project over EC$15 million should be evaluated independently. Again, nothing is wrong with that if we want projects that will benefit Anguillians and not just a few individuals who happen to own the land that the investors buy.
As regards a few specifics in the CM’s message that are inaccurate, politicians are NOT volunteers. They get paid to do a job. If our CM and his son would like to give up their salaries and their cars then they can call themselves volunteers. To my knowledge, there are no “ruthless economic sanctions against the people of Anguilla”. Economic sanctions usually take the form of barring investment, exports or imports to or from a country. This is clearly not the case here. I thought there had been a potential purchaser of Malliouhana Hotel when our CM was first elected, but his Government refused to allow the purchasers certain concessions. This has nothing to do with the British Government. Where does the idea come from that the British Government is causing the confusion at Cap Juluca? The independent group who offered to mediate said that they could not help because of the “biasness” of our politicians in power.
I could go on and on, but isn’t it time that our CM stop his rhetoric and create an environment in which investors would be attracted to Anguilla?
Name withheld at writer’s request
