Scolds reporters on non-investigative journalism
BASSETERRE, St. Kitts - AFTER years of requesting figures from officials on how much money was made under the Citizenship By Investment (CBI) programme, data revealed that the Federation had gained in excess of $5 Billion over a 15-year period.
This revelation comes as in-fighting within the Team Unity Government continues and the curtains have been peeled back to show a clear breakdown in communication and flouting of the agreed upon Charlestown Accord.
Nevis is accusing Prime Minister Dr. Timothy Harris of not following through with the agreement by not providing a “fair share” of the proceeds of the CBI programme to the island.
Meanwhile, the Prime Minister has been releasing figures of his own, highlighting that the island had received more than $400 million in direct payments, payments to public sector workers and social assistance programmes.
Now, Premier Mark Brantley has provided statistics to support his position that the island is being left in the dark and not receiving an equitable amount of $2.9 billion received since 2015.
The Premier had a team comb through a number of reports and garnered data for 15 years, which have shown that Nevis only received about 12 percent of revenues garnered over the 15-year period.
That group, according to Brantley, reviewed audited public reports from the Sugar Industry Diversification Fund (SIDF) and budgets to put the pieces together, and it (team) came up with the relevant data.
According to Brantley, in 2007 the receipts totalled $19.2 million, of which Nevis received no funds. In 2008 receipts totalled $48.5 million and, again, the island did not receive anything. The revenue increase in the following year to $67.1 and, as before, the island was left out of the financial loop.
He also stated that in 2010, the amount was $105.8 million, with Nevis again receiving zero funds. In 2011 the revenue stream was doubled to $321.7 million and the island was given a $3 million loan,
Brantley noted that a further year-over-year increase was seen in 2012 when the Federation received $475.5 million and Nevis was given $12 million, again as loans. The next two years - 2013 and 2014 - under the St. Kitts-Nevis Labour Party/Nevis Reformation Party, receipts totalled $607.6 million and the island was given $4.7 million.
Under the years of the current administration, the Premier, at his monthly press conference today (Mar. 31), disclosed that in 2015 the CBI programme raked in $503.3 million.
In 2016, $300.1 million was received, while there was $269.4 million in 2017, $417.7 million in 2018, $400 million in 2019, $270.8 million in 2020 and last year there was approximately $588 million.
In strengthening his point, the Premier noted that over the 15-year period the Federation accumulated $5,145,702, 943, and during that period St. Kitts received the larger share of the pie of $4,773,713,126 and Nevis got $371, 989, 817.
“Over that period then, from 2007 until 2021, the island of Nevis received 7.2 percent of CBI receipts for a population of 25 percent,” Brantley lamented.
He criticised the media for its flashy headlines that the island received $400 million since 2015, but have not been questioning whether that was the fair share and the overall amount received over that period.
“The press must also ask the question: ‘Well, if Nevis gets $400 million, how much you get?’ Because you cannot assess fair or equitable unless you know! So, all the headlines I keep seeing: ‘Nevis gets $300 million.’ That is the only headline, but it is only part of the story…And where is the press in all of this? Because you all have allowed this type of narrative to take hold without questioning it,” Brantley said.
The media have time and time again asked for figures concerning the number of passports issued and the level of revenue received from the programme, but to no response.
As the “fair share” debacle rages on, questions are being asked on where have the funds gone, and whether the Prime Minister would hold out and have experts review what is an equitable amount for Nevis.
Meanwhile, Deputy Prime Minister Shawn Richards recently called for the island to get its fair share of the proceeds.
