updated 1:29 PM PDT, May 26, 2017
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Fraser To Seek Answers About Governor's Order

Third District Representative and Opposition Member, Hon. Julian Fraser will shoot off questions regarding the historic and controversial move by Governor John Duncan to exercise his constitutional powers forcing the government to provide more monies to the police force. 

On Thursday, May 11th in the House of Assembly, Fraser will ask Premier and Minister of Finance Hon. Dr. Orlando Smith, whether it is correct that the Governor required $800,000 from the Consolidated Fund and announced his intention to issue a warrant under his hand for the withdrawal of such funds from the Consolidated Fund? And when he learned of the Governor’s intent, and how?

Also, whether it is correct that the $800,000 figure referred to in Question 1, had increased to a staggering $1,880.000 to be withdrawn from the Consolidated Fund? And when he learned of the Governor’s intent, and how?

"The Governor issuing a warrant suggests that those funds were not budgeted for, because a voucher would have sufficed; could the Premier and Minister of Finance please tell this Honourable House: a) How he plans on making up for this shortfall? And b) If he intends to reduce any sub-heads to cover the Governor’s warrant, which sub-heads and by how much, giving specifics," Fraser will ask. 

Premier Smith will be asked to inform the House, if any of the money withdrawn from the Consolidated Fund by the Governor by warrant under his hand is being used for: a) The fit out of a hearing room for the courts? And b) If the answer to a) is yes, where is this space, who holds the lease to the space and what are the terms and conditions under which this space is being fitted out?

"Madam Speaker, could the Premier and Minister of Finance please tell this Honourable House: a) Exactly what the moneys withdrawn from the Consolidated Fund by the Governor by warrant under his hand is being used for, giving details as to how it’s being spent? And b) Provide this Honourable House with a copy of all warrants intended to withdraw Funds from the Consolidated Fund by the Governor under his hand."

Financial Services Will Not Be Affected By Trump's Policy-Robert Briant 

Robert Briant, Partner at Conyers Dill & Pearman law firm, said that he does not believe that the US tax policy in the plan will impact the BVI’s position as a leading international finance centre.

Speaking at a recent lecture series at the college, Briant stated that lowering the tax rate will have implications but it will have implications for tax treaty jurisdictions.

"They are the ones with large base, hiring staff, physical presence to support the long term profit...But the BVI, Cayman Islands, we do not have tax treaties with the U S we have tax exchange, but no tax treaties. No one said the BVI is taking advantage of lower tax, it says zero tax," Briant stated.

He said that the lowering of the tax rate will have little or no implication on our businesses.

Briant said that while his comments may come seem selfish, he does not see the BVI being affected.

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