After seeing the suggested rate of value added tax (VAT) as proposed by the interim government, it is still suggested that the rate of VAT proposed at 11percent is still too high. The net result will be that an underground economy, where people do most transactions in cash, will be created. After that, very few dollars will reach the Treasury and the economy could collapse.
The proposal seems so temporary in terms of “intended effect” because it is designed make sure that enough taxes are collected to “secure” the $260 million guarantee and that once the guarantee is paid off there will be no need for VAT. It would mean that they are prepared to upset the economy, uproot everything, remove what’s there in terms of economic stability just to pay off the loans. These are loans the interim government says they met from the former government but are prepared to pass the bill on to the people in the form of already higher taxes and a VAT levy of 11 percent. Why, it seems, we will never know.
Already in place is a number of taxes. There is $0.75 per gallon on the sale of fuel. There are no proposals to remove ALL customs duties and or the 6 percent customs processing fee but these should be removed. We are paying NHIP payments and NIS payments. That’s another 13 percent from our income that will be passed onto the consumer. Next is the stevedoring deal at South Dock Providenciales, which has already added some 45 percent to the cost of living. Stamp duty will remain at 3.6 percent to over 6 percent on the purchase of land.
It is being said that the reason for the “early elections” on November 9, 2012, is to get the guarantee moved from the Department for International Development (DFID) but onto a European Union (EU) source but the EU could not guarantee an unelected government so the guarantee is to be moved.
Also, they are saying that DFID did not even have the authority to place the guarantee and once it is audited the guarantee cannot be found on DFID’s books in 2013. All in all, the rush to increase our taxes is not really to do anything but to create more debt and more things for the public to pay for.
More than anything else people continue to ask why the TCI government must pay InterHealth Canada some $60 million annually and why our taxes must go up to pay for this. This again makes the increase in taxes so temporary in purpose because the payments to InterHealth Canada must fall away and be cancelled at some early point. There is no way the people should be paying $60 million a year to this scam of a deal and a rip off of the TCI people. We are being robbed blind. Most of all we do not know who owns InterHealth Canada, where the monies are going and why costs for these hospitals are so high.
Is VAT designed to support these illegal and odious payments as well? What agenda is afoot and whose interests are being served here? Is it the people, the owners of InterHealth Canada or the people of the TCI? But why all of the silence, London and Waterloo? Why all this secrecy for such higher than usual payments. Why all of this massive cover up.
VAT set at 11 percent can only bankrupt the TCI economy further and cause the treasury to collapse because people will start to do business in cash and not by way of receipts, invoices, vouchers or payments to the bank. Mattresses, holes in the ground, holes in the wall, etc. will now emerge as bankers of “first and last resort.” They cannot effectively police or regulate this underground economy that will emerge as a result of VAT. Yet owing to this reaction by the public, the Treasury will collapse.
The public cannot care about the payments to InterHealth Canada because these payments are being forced on all. It’s a form of statutory rape under the NHIP Ordinance. The UK-financed guarantee cannot be at issue in the minds of the people because people do not know how the debt was created and why. All we know is that the former government ran up debt, the interim government took over, more debt, most of it unaccounted for and people are being told to pay.
Because of this lack of knowledge and transparency there should be a project to reduce all taxes, remove ALL customs duties, remove the 6 percent customs processing fee, remove InterHealth Canada, cancel the $60 million annual payment to InterHealth Canada, redesign a better health care system and let the people breathe again. People cannot pay through the "noses" to support a system that is supported by ultra-secrecy and whose success is dependent entirely on secrecy in 2012.
The House of Commons and the Foreign Affairs Committee must be alarmed at this prospect of secret government supported by high taxes, which a population of 28,000 or 36,000 persons cannot afford to pay. Yet $60 million annually over 25 years can possibly cost this small population some $2 billion-plus over that period of time. For what? Again, the shroud of secrecy grips the people tighter and there is VAT at 11 percent and 6 percent of salary to pay for medical insurance to NHIP. Some NHIP monies end up in InterHealth Canada’s accounts after insurance claims are made.
When they, trust me -- whoever "they” are -- explain the debt, how it got here, who really ran it up, who in London is really benefitting from these loans, show who really owns InterHealth Canada , expose the true paper trail, people will see why what’s happening “is happening” and why people are being ripped off in so many million ways.
In the meantime, these already high taxes, VAT, cannot be right or fair and 11 percent is too high. Remove ALL existing taxes first then people can talk. Maybe start VAT at 5 percent so that after all taxes are removed there can be more savings. None of what is going on can be fully explained. All we know is that we are being taken advantage of by the government to satisfy an agenda that is not the people’s.