Turks & Caicos bail out costs UK £10 million

| 01/07/2010

(Belfast Telegraph): The UK has been forced to provide a £10 million emergency bail-out to the corruption-hit Turks andCaicos Islands (TCI), Parliament has been told. International Development Secretary Andrew Mitchell said the short-term loan would be used to pay the salaries of police, medics and teachers in the UK overseas territory. Mitchell told MPs the financial crisis in the islands meant immediate UK support was needed. The £10 million loan will be followed by a package of financial support agreed with commercial banks. "The financial situation in TCI has worsened to the point where it was not possible for its government to meet its June financial commitments, including payment of public sector salaries,” Mitchell said.

 
"Without immediate UK support, TCI would fall further into economic crisis," Mitchell added. "Following discussions with the Foreign and Commonwealth Office I have decided to provide a temporary package of financial support."
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  1. Anonymous says:

    I am at a loss concerning why there is so much debate about an issue that doesn’t even involve this territory — perhaps cause the apple is not falling far from the tree.

    Mr. Bush — I would watch your tongue and your back. Unfortunately, you have paid people to watch your back but no one to hold your tongue!

  2. Sorry :o)  to step on your ugly toes, but we certainly do not need a second Dictator, the UK’s Foreign and Commonwealth Office to take away our freedoms. Despite the bad Misick or any Premier may do, "you guys" will never be able to convince the Cayman Islands and any other overseas territory that the UK has not done worse!

    Check the facts and stop denying your history!  That’s all I got to say 

    :o)

    • Anonymous says:

      History is in the past — let it go!

      If something is wrong – it needs to be fixed and I don’t give a damn whose fault it is/was — just fix it!

      And if the UK is so bad then why don’t you lead an effort to be independent? Too much work for you?

      And how do you know my toes are ugly — I could be a foot model!

  3. Anonymous says:

    Below are the first 5 paragraphs of the Auld Commission report on TCI. If you changed the words "Turks & Caicos" to "Cayman", and the word "Belonger" to "Status holder", it would accurately describe the Cayman Islands’ problems in their entirety. Paragraph 4, in particular, might as well have been written about Cayman itself. We, as well as the TCI, need direct rule, a cleaning of the stables, the implementation of transparency and honesty in public life, and full political and human rights for expatriate workers.

     

    1. There is a high probability of systemic corruption in government and the legislature and among public officers in the Turks & Caicos Islands in recent years. It appears, in the main, to have consisted of bribery by overseas developers and other investors of Ministers and/or public officers, so as to secure Crown Land on favourable terms, coupled with government approval for its commercial development. Breach and/or by abuse of the Government’s Belongers Empowerment and Crown Land Policies appear to be frequent mechanisms of, and aids to, such transactions.

    2. Over the same period there has been serious deterioration – from an already low level – in the Territory’s systems of governance and public financial management and control.

    3. This deterioration has been accompanied by extravagant and ill-judged commitments by those in public office, primarily Ministers, in public expenditure and in their private expenditure at public expense. There has also been deterioration in the Territory’s financial condition and, more recently, accumulating budget deficits and a near collapse of its financial reserves, giving it difficulty on occasion in paying its bills as they have fallen due.

    4. Among the contributors to this moral, governmental and financial decline have been: 1) the potential and encouragement in the system of governance for abuse of public office, concealment of conflicts of interest at all levels of public life, and consequent venality; 2) the power of politics in the mix of public decision-making and commercial activity, and willingness of overseas developers and other investors to exploit that power for their own purposes; 3) vulnerability of the majority of the Territories long-term residents, owing to the precariousness of their permission to live and work here, and to whom Belongership and, with it, the right to vote are denied; and 4) lack of effective constitutional checks and balances in the system of governance to protect the public purse, the inefficient from scrutiny, the dishonest from discovery and the vulnerable from abuse.

    5. There is also much scope in the wide discretionary powers accorded to Ministers by the 2006 Constitution, and/or arrogated by them, for abuse by them of their public office, inefficient governance and poor public financial management and control, particularly in the grant or withholding of Crown Land and permission to develop it and other investment opportunities, and in the exaction or waiver of government taxes and other dues.

    • justin says:

      WOW! 

      A report on TCI – corruption everywhere!

      I wonder if the UK can produce a report on themselves, because the 2009 Corruption Perception Index’ poll, has rank them 17 below Germany, Australia and Hong Kong. -This poll amassed by over 120 nations excludes the hidden white collar crimes that are now in the UK.

      Moreover, in the same year, there was a public outcry against expense claims made by members of the UK Parliament over several years, followed by failed attempts by them to prevent disclosure under Freedom of Information law. Many ministers used taxpayers monies to buy themselves homes, entertainment centers, et cetera…

      To me, it is so hypocritical, seeing a government that is corrupt, be the ones to judge TCI for corruption, and on top of that, dissolve their cabinet, declaring full british rule.

      So hypocritical, I think

      • Pit Bull says:

        First, 17 out of 120 is still in the top 10% – and Germany and Hong Kong are not exactly hotbeds of corruption.

        Second, were Cayman a country, I would suspect it would be far far lower down the table.

        Third, the expenses hysteria was whipped up by the press and really was about the poor salaries paid MP’s which over time had been supplemented through increasing expense rights rather than a headline and deserved pay rise. 

        Fourth, I hope the UK never ever lets any of its territories get close to the state of the TCI ever again and intervenes at an earlier stage.

        • Anonymous says:

          Err…17 out of 120 would be in the top 15%, but certainly not the top10%. The 10% percent calculation is actually quite simple – just remove the zero.

          Your opinion of Cayman is just that – an opinion.

          Your claim that MPs were actually justified to make the fraudulent claims because they are poorly paid is absurd. I can only imagine the howls of indignation if a Caymanian was to make such ridiculous claim in defence of our politicians. Typical delusions of moral superiority.      

          • Anonymous says:

            Yea $5K for personal xmas lights — I would scream about that especially since I can’t see them lights for the wall he built!

      • Anonymous says:

        Yep so as some British MP’s filled their expense claims and were then punished for it then no one else should be punished for corruption, that makes sense.

        Mmm dodgy expenses you mean like personal christmas lights? has the Big man offered to repay these yet like the Brit MP’s?

        The fact is Misick and his cronies brought TCI to it’s knees.

        With your thinking no one would ever be punished for anything as everyone had broken the law at some time or another, be it speeding not declaring duty, etc.

        In fact I’m sure a soem point in your own life you have erred, so how can you comment on ohters bad deeds, maybe apply your own morals to yourself boy

        • Andrew5 says:

          Ummm… punish for what??? 

          Your view on this whole matter is distorted. How can you compare the UK to the TCI???  Has not a whole nation TCI suffered enough for one man???  And where do you see such "extreme punishment" against the people of the United Kingdom for more than one of their leaders???

          Why are you condoning the same for TCI???  Your faulty comparison reflects your indifference to representation democracy and what it is

          • Anonymous says:

            Because they elected him — so they suffer! Just think of what will happen when the UK take over from Bush. Will you complain then that the UK overstepped its bounds or thank them for removing the XXXXX?

  4. They make it look like TCI would have been annihilated or wipe off the face of the map if it wasn’t for them.  lol… I bet if Misick was still in power, the economy would have been doing alot better than it is now

    • Anonymous says:

      You mean the man whose personal fortune jumped from half a million to 150 million in the few yearshe was premier. He and his cronies sold the peoples land to foreign friends for slashed down prices and pocketted all the money.

      THe T & C were so broke after he had stripped the reserves that they couldn;t pay their civil servants full stop.

      Meanwhile Misick was having his family coat of arms put on the governments private jet only he and Pornstar wife used, all paid fro by his country men.

      Would you had preferred to wait until the country ground to a halt and children started to starve.

      That’s nice of you, your mother must be proud

  5. Anonymous says:

    Lucky they don’t have a turtle farm or national airline!

  6. Anonymous says:

    I think your headline is quite misleading. It’s a LOAN. How does a loan cost the UK 10 Million GBP? I assume they expect to be repaid like any other lender.

    • Pruflas, 26 legions says:

      YOU bet it’s a loan. TCI are shd count themselves lucky they have someone to borrow fron eh?

      • Pit Bull says:

        TCI were very lucky they had someone to intervene and stop the problems of this awful regime getting worse.

  7. Anonymous says:

    Hearing this news is quite disgusting. Considering that it was just last year that Members of Parliament in Westminister were under investigation for using public funds for personal expenses. It is just so funny that when they are corrupt they use euphemistic language like "expense scandal". This is just International hypocracy at its best, the UK moved into TCI on grounds of corruption when they have their own skeletons in and outside their closet.

    I just hope that TCI is not stuck with the bail out bill, because technically there is no TCI government to accept funds from the UK, therefore they should not pay on either the principle or the interest of the loan.

     

  8. Anonymous says:

    "The UK has been forced to provide a £10 million emergency bail-out to the corruption-hit Turks and Caicos Islands (TCI), Parliament has been told"

    You mean the UK has been forced to finish something they have started after taking over the people’s government, financial records, and democracy  – all for 1 man or Premier that was corrupt! 

    And after repeated condemnation by the United Nations for their dictatorial actions against the Islanders, they have the gall to say it was the only way to deal with the CORRUPTION on TCI.  I recall a few years ago they tried so hard to find CORRUPTION here in the Cayman Islands with not one successful case prosecuted.

    Just Shameful