fp Turks and Caicos

Digicel TCI’s CEO E. Jay Saunders, who recently ran unsuccessfully for leadership of the Progressive National Party, wrote the following open letter to His Excellency the Gov. Gordon Wetherell about his statements at an Aug. 19 meeting of the Providenciales Chamber of Commerce.

Dear Sir,

As one of the persons who did not ask the panel at the Providenciales Chamber of Commerce meeting on the 19th August a question, I am taking the opportunity to do so now.

In keeping with the economic theme of the meeting, I would like to first point out that the major economic problem facing the country is that there is very little cash circulating in the economy, and the government appears to be unable to come up with a solution to the same. While new and more creative tax structures may help to stabilize government’s revenues, it will be at the expense of the people of the Turks & Caicos Islands who will have to give up more and more of their ever shrinking salaries — i.e., those who still have salaries — in order to pay the taxes.

While I am aware that the government needs revenue in order for it to carry out its functions, just slashing cost and taxing the population is no more sustainable than selling crown land to cover the shortfalls. At some point you will need to grow the economy, and the only way to do so is to open up the country again for business, and that time is now.

The task may be tough, but you have a hungry, frustrated population depending on you, and while you may be batting with great form you are not making any runs. You are blocking the ball when we desperately need 4’s and 6’s! There seems to be no sense of urgency from you with regards to the economy.

During the Chamber of Commerce meeting you stated that we need to diversify the economy, and you spoke to 3 areas — Medical Tourism, Agriculture, and alternate energy. While I admit that my first reaction was “That’s it! Is that the grand plan to get the economy moving again?” I have taken comfort in the belief that you would not have mentioned those areas if CEO (Mark Capes) and Economic Advisor (Brian Titley) did not run the numbers and presented you with scenarios that clearly showed how those 3 areas can get our economic engine moving again. As such, can you tell me: a) when do you expect each one of the 3 areas to start contributing significant revenues to the economy, and b) how much revenue do expect each area to contribute to the economy for the years 2010/11, 2011/12, and 2012/13. Also, can you share with me and the public the highlights of your Economic/Commercial plan for the country — particularly measures to grow the overall economy and to bridge the gaps in the budget?

Thank you,

E. Jay Saunders