Chamber Personnel
The Anguilla Chamber of Commerce and Industry, which plays a watchdog role regarding business development and economic activity on the island, is not satisfied with the progress of the economy. This lack of growth is disappointing because, according to the Chamber’s President, Mr.Keithley Lake, the business community had hoped the situation would have improved this year beyond that of last year.
Mr. Lake was at the time delivering his 2013 President’s Report at the Chamber’s Annual General Meeting at the Anguilla Community College on Tuesday this week. “Our tourism industry, our main economic engine, has shown some improvement but the industry has yet to reach the levels that are needed to trigger growth in the construction and financial services sectors,” he observed.
“The Chamber remains concerned over the emphasis, at various levels of Government, to regulate and impose legislation that will undoubtedly further impede economic activity. This is very evident in the financial services sector as well as in legislation regulating Labour and Tax policy. The Chamber does not understand the intent of these initiatives, but remains highly skeptical and concerned over the manner in which these initiatives are being developed with regard for the concomitant drag on the nascent economic growth.”
The Chamber’s President lamented that except for the proposed initiative regarding Labour Policy, there had been little or no meaningful consultation with the business community. “A glaring example of this ‘helter-skelter’ approach is the decision to radically decrease the funding of our Summer Festival,” he continued. “I realise this can be a sensitive issue but I am limiting my comments to the economics of the decision. The Anguilla Summer Festival provides the majority of the annual cash flow for many small businesses. Further, it generates upwards of EC$10m in Government revenues. Consequently, the rather impetuous decision to downsize the Summer Festival will not only impact the small business community but will have an adverse impact on Government revenues as well.”
Mr. Lake complained that Anguilla’s financial services industry was continuing to show a radical decline compared with the higher economic levels it demonstrated in the past. “What is far more disturbing is that public policy consultation on approaches that could have a less adverse impact, while at the same time meeting the regulatory concerns, does not appear to be welcome,” he went on. “If, indeed, the objective is to create a state of economic dependency, then I guess the approach is understandable. However, if we are indeed in a partnership with our colonial stewards, it is incumbent on both parties to find ways to enhance our financial services industry and at the same time satisfy our international obligations. The financial services industry was developed to contribute to economic growth – not to regulate the sector out of existence.”
Mr. Lake also paid attention to the need to improve air access to Anguilla, expand the airport to accommodate larger corporate jets and airline charters; ensure greater hotel occupancy levels to create year-round employment and a modern and balanced Labour Code with an emphasis on triggering economic growth. “It is simple: no economy, no jobs,” he stressed. He hoped that next year the Chamber would be in a position to make its views heard within Government. “If we fail to do this we can reliably predict more social ills, less growth and a decrease in investment in our economy. That is unacceptable,” the President of the Anguilla Chamber of Commerce and Industry emphasised.
In addition to the President’s Report, the Chamber’s Annual General Meeting included the Auditor’s Report delivered by Mr.Ranijit S. Kumara; the Treasurer’s Report/Presentation of Accounts presented by Mrs. Felicia Hill; the Election of Directors (who were all returned by acclamation); and an address on crime by Commissioner of Police, Mr. Rudolph Proctor.
The Board of Directors of the Chamber of Commerce and Industry comprises the following persons: Mr.Keithley Lake, President; Mr. Carlton Pickering, Vice President; Mrs. Felicia Hill, Treasurer; Ms.ShermaBlaize, Secretary; and Members, Dr.Louis Bardfield; Mrs. Vida Lloyd Richardson and Mr. Mark Romney. They retained their positions after no nominations were received for their replacement.
