In his 2023 – 2024 Budget Address, the Hon. Minister of Finance, Dr. Irvin McIntyre warned of government’s intention to enforce a licensing requirement on credit unions, which, in our opinion, would seriously injure the entire credit union fraternity.
Team Unity Dominica (TUD) is incensed by this disclosure, and we stand in solidarity with the Dominica Co-operative Societies League Ltd. (DCSLL); the apex body of cooperatives in Dominica.
We agree with the DCSLL that government’s proposed license fee “is akin to a tax on their assets, a crippling blow to the credit unions’ efforts to recover from Tropical Storm Erica, Hurricane Maria, COVID 19 Pandemic, IFRS 9 Adoption and the incidence of high Non- Performing Loans (NPLs)”. TUD opposes the measure and calls on citizens to do likewise.
The management of TUD commends the DCSLL who, in an earlier statement, “vehemently opposes this fiscal measure which is anti-growth and which stands to have a detrimental impact on credit unions”. In fact, the DCSLL statement of July 26, 2023, goes on to describe ill-advised threat against the co-operative sector as a draconian measure that, if implemented, could affect co-operative societies in the CARICOM region.
This threat by government to impose “license or tax of this magnitude on cooperative credit unions”, according to the DCSLL, should not be allowed to happen. The people of Dominica should stand with the co-operative sector. What happened to the consultation which government boasted about?
The finance minister agrees that meaningful collaboration would result in “increased employment, economic growth, and innovation”, and so we ask that he honors his words and engage the DCSLL. This proposed bad idea should be abandoned, and, government should engage the co-operative society, to avoid inflicting such crippling pain on the innocent people of Dominica.
TUD is ready and willing to stand with the DCSLL and the people of Dominica.
ebeh look it, is why I stop go that church long time …. is pedophiles now borgar! OLD SMP & SMA STUDENT AT THAT EH.
That’s what happens when a government has no vision. Sustainable development should be persued to revive the economy of the country. Not punitive taxation on the people. They were warned that cbi is not a viable option and it would ruin the country in the long run, and they ignored because they were all lining their pockets. Now we are reaping the consequences and the people are being made to suffer.
If CBI dies then there’s no use to try arms become the next government as there will be no money to run anything except be back to the days of mamo & Edo. That would s*ck.
Those who were against the CBI must be prepared for increase taxes if there wish becomes a reality and ready to go begging. Government raises revenue through taxes. People who know it all should just shut up and like good citizens pay their taxes. The UWP knows how to beg so there should be no problem there.
Exactly what is expected from you – more bathroom tissue!
When CBI is dead,the government should TAX all the opposition parties and supporters to get revenue to run the country.The government should also make them pay a hospital user fee of of $50.00.Then those opposition Jacka will be satisfied.
You know your support for stupidness is so amazing. Do you believe deep down in your heart that having passport sales as the mainstay of an economy is the best way to go? Any mind which will conceive and support that is one that’s wasted. There are several other avenues available through which a solid economy can be build. We can begin with agriculture and manufacturing.
The Roosevelt regime is a tax and spend, grossly underperforming government. No matter the enormous amount of revenue it intakes from over-taxing the poverty stricken working class, the country will be perpetually in debt.
Corruption continues to corrode the finances of the treasury. The monthly salaries and unnecessary allowances of the over inflated cabinet of underperforming, inactive ministers continue to put the finances of the government under severe duress.
The chickens are coming home to roost. Because of the wanton corruption, over spending and excesses of this kakistocracy, responsible corporate citizens like the Credit Unions and their members have to pay through the nose.
Where there is no wisdom the people perish. Where there is indifference and disinterest in the face of wastefulness and cruelty the citizens suffer.
Well, CBI coming to an end. They have to think of ways to squeeze blood and money from stone. Wait for more. Things HAVE to get worse, before they get better. I just want to see how much Dominicans can take before they wake up and realize their Dominica isnt theirs anymore.
That is only the beginning since the CM is slowly running out of money. Mark my words, it will get worse.
Absolutely right! Everyday the bucket goes to the well, the bottom will drop out one day. The bottom of government treasury is falling apart. Too much leakage.
I fully endorse this statement by TUD and encourage all concerned to let their dissatisfaction be heard around the island. This government is lazy, can’t come up with any innovative ideas, and refuse to accept such ideas from brilliant opposition minds so they are stuck. We do not have a solid economy therefore the option is to parasite on thriving institutions. We must say no. Let this be the beginning of the end of this sluggard regime. If we allow them to start taking from our little old grandparents and further destroy the future of our kids, that will be on us.