By LR LiburdThe St. Kitts-Nevis Observer
Former Prime Minister and Opposition Leader the Rt. Hon. Dr. Denzil Douglas has challenged statements made by Nevis’ Premier the Hon. Vance Amory, who alleged that the Labour Party Administration had mismanaged the Social Security Fund, while pointing to a $70M debt write-off.
Speaking as a guest last week Thursday (Sept. 15) on WINN FM’s ‘Voices’ programme, former Prime Minister the Rt. Hon. Dr. Denzil Douglas said: “I am very, very disappointed with Premier Amory to have raised this matter in the way that he did; because before pointing an accusatory finger at anyone, he should have his facts straight in the first instance.”
On the previous week at a Team Unity town hall meeting held at the McKnight Community Centre, Premier Amory told the attendees that the Social Security had to write-off $70M as bad debt.
“We have over the years looked at our Social Security Fund and how, in our opinion in Team Unity, there was significant mismanagement of that Fund. Significant mismanagement of the Fund to the point where the Director and the Board are indicating to me as Minister that they have had to write down over $70 million as bad debt, and that is only one part.
“That was because the Social Security Fund was seen by the Douglas Administration almost like a slush fund. They gave instructions without significant considerations for the benefit or the good sense of what was being considered.”
Amory, a Senior Minister in the Federal Government with responsibility for Social Security, told his audience that in the near future Team Unity intends to go to Parliament with the Actuarial figures for the Social Security Fund “and you will get a clear picture of where we are coming from or what we have had to deal with, with that Fund”.
Dr. Douglas is of the view that the losses were incurred by the Team Unity Administration because, over the years, the Social Security Board had purchased lands for development that are now being valued lower than the price at which they were bought.
“When lands in the South East Peninsula and other places in St. Kitts and Nevis, I understand, which were bought at market price are now being valued at $1 per square foot…is crazy. Not even government land for ordinary low income housing development is going for a dollar. So therefore, it is very strange for Premier Amory that he is going to be writing off $70M worth of debt for the Social Security.”
In this political blame game, Dr. Douglas in turn threw out a question to Premier Amory.
“So I ask a question which is legitimate in this case. The writing off of these large sums of money, does it include the NIA debt owed to the Social Security? That is a fundamental question that I need to have answered.”
