Mia Mottley Addresses Governance Reform

It was reported recently that leader of the Opposition Mia Mottley floated the view Barbados needs to amend our system of representation in parliament to ensure there are greater checks and balances -see BU blog The Silly Proposal of Mia Mottley. As she correctly points out in the video posted our parliament is currently hijacked by the Cabinet of Barbados given the paucity or lack of a backbench. When coupled with an ineffective and irrelevant Senate the conclusion may be drawn that the time for reform of our governance system is NOW.

60 thoughts on “Mia Mottley Addresses Governance Reform

  1. Credit to Sandra Husbands who has claimed the topic of governance reform as her own. Not sure if it is a topic to resonate with the dullards in our midst.

  2. If we accept governance as the exercise of people power in the allocation and accountability of the monetary and material resources in the economic and social development of Barbados
    no taxpayer should refuse to participate in any dialogue leading towards this objective.

  3. David

    Is it me alone or is this not a well reasoned and mature argument for transformation/reformation of government and goverence in Barbados?

    • Mia is saying the right things she must package her message to appeal to the many that have disengaged from the system, those who are ignorant about civic responsibilities, even the base. She mentioned on the video that the vote means different things to different people. She needs through oratory and leadereship to message the people that she will make governance reform a priority. However, we will have to cross fingers the BLP delivers. We have the promises from all those who have gone before to stoke our cynicism. Will the DLP deliver on integrity legislation?

  4. I am trying to recall the last time I heard such a convincing and thought provoking argument coming from the benches of the Government, inside or outside of Parliament.

  5. Jesus H Lord! I really do not like this woman. Once a rogue always a rogue. Her past doings do not instill in me not even a pint of confidence, but when a presentation is packed with information that makes sense, is pertinent, is speaking to the main artery of our sovereign interest and way forward; when the need to see greater people participation as a fundamental democratic right in the decision making process, I have to give jack his jacket, and say, I am in total agreement. She is sounding a TRANSPARENT alarm and speaking a language that is a start to better governance, if she follows through on everything that she has said here. Now if she decides to address the matter of increase accountability and financial security in government; the introduction or reformation of ministerial code of conduct that will hold all ministers accountable for how their manage their ministries and penalize them severely upon the discovery of inappropriateness, and definitively deal with the need for anticorruption legislation and Whistle blower laws post haste, then she will make a believer out of me. Until that time, I am going to view all of what she has said as a build of nice saying things on the eve of an election. So that when she becomes PM and delivers on them, then the SSS will think differently of this woman that she believes a class actor and a rogue. I would even apologise and recant all that I have said in an open letter here on BU.

    • @SSS

      We need to hear ALL the poltical parties preaching governance reform so that it resonates with the population. This should not be a ‘wedge’ issue.

  6. Vague promises of future governance legislation is fool’s gold. What the electorate wants to know is what legislation is proposed and when will it be put on the statute books. We want meat on the bones. Every government since independence has made bold promises. We are in a mess because they failed to carry through.

    • Note Mia has hit all the concerns many of us have been railing i.e. ineffective Senate, a backbench and working committees of parliament compromised by a large frontbench etc.

      The problem, how do we get politicians to convert election promises when they assume office.

  7. @ Hal
    Well said.

    Mia was critical of internal BLP rules and regulations when she lost the party leadership some time ago. She detailed intelligent changes that were needed back then too…
    Since regaining power in that shiite party, not only has there been no words from her about change, but she has even seemed to bend the SAME warped shiite rules even more …. to do unto Maria Agard what had been almost done unto her….

    All this would matter ..in a normal society, but with brass bowls and their limited memory, you can say any shiite and do any piss… and the bowls remain accepting.

    @ David
    You could really wake up….
    The ONLY reason some of these crooks are talking about governance is that BU and other social media have made it an issue to the extent that we have… AND THEY ARE ONLY TALKING… like NATO (No Action, Talk Only)
    Just like David ‘Thiefin’ Thompson and ‘sleeping’ Stuart with ITAL, they will will not change a single shiite.

    If Mia had ANY personal commitment to integrity, she would NOT condone that low-life crook as Speaker of the House; She would NOT sit idly by while the PAC was decommissioned; She would not let CAHILL drop just so – without detailed analysis of who did what and why….

    It would not surprise Bushie one bit …if Mia contributed to the ‘Carry-away-a-ton’ restoration fund; consulted on the PAC decommissioning scam, ….or had advanced knowledge of the Prison fire.

    Mia is a political bull-shitter… just like the rest of her political class mates…..

    • @Bush Tea

      True but in her defense she took some time to solidify her position and yes Machiavellian moves came into play.

  8. The concerns that are raised about increasing the number of parliamentarians is not shared by me.

    I have typed before and hereby repeat (in round numbers):

    UK has 650 seats from which a gov’t is formed of 326 from which 30 ministers are selected. In addition, they have an a-political Upper House for oversight.

    We have 30 seats from which a gov’t is formed of 16 from which 20 (?) ministers are selected. In addition we have a gov’t-selected Senate with no oversight.

    We do not have the numbers to make the Westminster system work.

    We should double the number of Parliamentarians and pay none of them, then de-politicise the senate.

  9. For those uninformed among us,Integrity Legislation was introduced to Parliament 4 by the late and great Tom Adams.Errol Barrow refused to support and said so openly.It died a natural death upon the rise of Parliament 4.

  10. @ Frustrated Businessman: enact Facilitation Martial Law! May 24, 2017 at 8:04 AM
    “We should double the number of Parliamentarians and pay none of them, then de-politicise the senate.”

    The Barbados Senate in its present form is nothing more than a rubber-stamping vehicle for the ruling administration.

    As it stands, it functions primarily as a rest home or almshouse for failed politicians or as an insulated breeding ground for wannabe power brokers.

    How can any balance be brought to curb the potential governance excesses of any ruling administration when the same administration has the Constitutional right to appoint the majority of senators, whether directly or indirectly?

    Why not get rid of the senate and make the legislature unicameral with some members selected by national interest groups like the trade unions, farmers, industrial and commercial private sector associations and mass-based social organizations?

  11. Miller
    I too support the unicameral approach.Trinidad has it and even has the facility to appoint ‘temporary’ senators in place of incumbents.Seeing that Barbados is still Little England,it is our way of maintaining a house of lords concept without the ‘peers of the realm’.

  12. millertheanunnaki May 24, 2017 at 10:40 AM #

    I support the unicameral concept and agree with the disbanding of the senate and the statutory boards.

    I posit that our inability to properly look after the basic infrastructure of our country lies with the dismantling of the community run boards that were mandated to look after individual parts of Bim.

    ….I suggest that we create 11 boards with 5 members,1 for each parish with 2 votes,that the membership of the boards elect a Chairman&Deputy,a Speaker&Deputy who will form the Board of Management of Bim with a total of 15 members(4+11) with the Chairman after consultation with the BoM appointing the Ag.,etc

    ….The BoM is to serve for 10 years with the power of recall/early election being the preserve of the CBs by a 2/3rd majority.

    …..Each CB member will hold office for 2 years and can only be re-elected once,he can stand again afterwards.

    I think with some input and fine tuning this is a doable proposition,as you know in business a project starts to show a profit around years 8-10 and we want to make sure that no one is able to remain more than 4 years on a trot on the community boards which will in turn force the management to fly right or get kicked out.

  13. I still maintain that there is nothing wrong with the system. It is the integrity of the persons that we elect to the system that engender the perceived ills that we are attributing to the system. If one perceives a man or woman to be corrupt do not support him or her.

  14. @ Vincent at 1:23 pm.

    The statutory Boards are as necessary to state corporations as BOD are for Private sector corporations. They supervise the CEO and Senior management as well as those requirements of good governance required by the law. Just because a few persons perceived their roles as political rewards , let me assure you,these are in the minority. State Boards do solid work at minimum cost.

  15. Bushie

    Hush do!! Await this week’s column by your ‘Godot’ then have your weekly orgasm, porn free of course.

  16. Bernard

    I am old enough to know the reason what they were created for…..simply to bypass the responsible ministry who would require best practice be followed a la the Auditor Generals requirements……..would you care to tell me how many have?….. with the documented proof……

    You have rightly pointed out the pork barrel nature of it as well.

  17. @ Vincent Haynes at 1 :54 PM

    They were created to reduce the bureaucratic red tape of the Civil Service. They also were audited more timely by external auditors who had to follow strict international accounting standards of reporting. “Pork barrel” is your term not mine. I simply stated that some appointees behave as if they had to second guess ministers rather than apply the expertise which guided their appointments to these boards. And, they were in the minority. I have no intention of giving you numbers nor proof. I am in no court of Law. I am giving my view based on experience on many boards both Government and non government.

  18. Bernard

    Interesting…..you are saying that the auditor general has no problem with their accountability….hmmm.

    Thanks for your correction of my understanding based on personal knowledge.

  19. https://www.barbadostoday.bb/2017/05/24/ban-online-access-to-porn/

    Meet Barbados’ newest dictator. 

    My man…if you want to be a dictator  I suggest you do like Branson and buy ya own island, then you can dictate however you want. .., ya starting to make Mia look better and better.

    Do you realize that:

    You will have to close strip clubs…they provide sex

    Ban cable TV….they provide porn. 

    Ban the internet porn  through ISPs as ya trying to copy from UK…but they have not done that yet, ya little brainwashed slave.

    Have you thought this through….no one will vote for a dictator. 

    Why not think about educating parents that all electronic devices come with parental controls.., and they as parents are the ones in control.

    Ya next step will be banning social media…ah saw the blasted you on facebook for this dictator move.

    “Ban online access to porn!
    Added by Barbados Today on May 24, 2017.
    Saved under Column
    The Ministry of Education has approved our children’s use of cellular phones in our schools. The obvious foreseen risk is our children’s direct access to pornography (porn) on their smart phones.

    While some responsible parents will install porn filters on their children’s phones, most parents and grandparents will not know, and are not expected to know, how to protect them. Therefore, a national response is required.

    Many parents have provided their children with smart-phones, tablets and laptop computers without installing the critically necessary porn filter. Therefore, they are unknowingly giving their children direct access to porn, which is perhaps the most reckless act that a parent can do.

    For those who are unaware, porn permanently damages children. Our children are not the only victims. Employees who watch porn are normally very unproductive, which harms both the private and public sectors. Spouses who watch porn normally destroy their marriages.

    However, the real victims are those whom they view on the screen. The sex slavery trade is real. Girls, mostly from Asia and Eastern Europe, are forced into sex slavery, and are repeatedly raped until they are made to appear to enjoy it.

    Viewers of porn may try to justify their actions by deluding themselves that they are engaging in a harmless act. However, every time that they visit a porn site, they increase the advertisement revenue of the site, thus ensuring the bondage of the victims.

    Sex slaves are perhaps the most oppressed group on earth. Their initial hopes of rescue are dimmed with each forced rape and each new year of captivity. However, those who capture, rape and confine them are merely agents. The true oppressors are those who view porn, for if there were no market, there would be no sex slavery. Viewers of porn are the market where sex slaves are traded.

    By allowing our children to access pornography, we are training the next generation of oppressors, and ensuring that the sex slaves’ hope for freedom is in vain. Most of us are descendants of persons who were either sold into slavery, or kidnapped and forcibly brought to Barbados. If we now actively facilitate the enslavement of sex slaves, then we, above all people, deserve the harshest judgement.

    Fortunately, this judgement can be avoided, because this is one of the easiest national problems to solve. The Government can easily block access to porn on the Internet, by default, today. Those adults who want it can simply apply for it. Therefore, with one decision, the Government of Barbados can immediately protect all of our children, increase national productivity, improve marriages, and most importantly, provide some hope to the despairing sex slaves being savagely raped around the world.

    Let me directly address those who believe that it is their duty to ensure that the bureaucratic ‘wheels’ of Government turn slowly. I understand that this decision involves policy, legal, and technical issues. The policy issue can be addressed immediately – it is good policy to protect our children.

    I understand the benefits of having ‘Green’ consultative and ‘White’ policy papers in order to get diverse feedback. Therefore, set the policy on protecting our children, and then have the time-consuming consultations on changing that responsible policy.

    The legal concern is a non-issue since those adults who want it will be granted access once they apply for it. That leaves the technical issue. Flow and Digicel can be regulated to block porn, or the Government can block it directly today. You can be sure that in a Solutions Barbados administration, porn will be blocked on day 1.

    There is one man in Barbados who currently has the authority to do so much good, or perpetuate a situation that has allowed so much harm. That man is the Minister responsible for Telecommunications. Today, he can instruct the Permanent Secretary to instruct the Chief Telecommunications Officer to block all porn sites.

    That our Government has allowed such unspeakable harm to go on for so many years is very distressing. Well, the minister now knows! If our children are unable to access porn tomorrow, then we will know that he also cares.”

  20. I told my then 3 year old all she needed to know about sex, she stayed a virgin until 20 years old an honours mathematics student at an ivy league university, now a world class programmer…parents are supposed to be incontrol of their children…not you Grenville.

  21. By the way…how in heaven or hell’s name can ya ask adults,, not ask, demand that adults register with the government to get access to porn sites….what the hell is wrong with you…lol

  22. LOL @ enuff
    What EXACTLY is it about what Bushie said that bothers you bozie….?
    …or that can be disputed…?

    Bushie can indeed hush!!!
    …but the Whacker must still whack…..
    So you could as well let the bushman be….
    Ha ha ha
    Wuh loss!!

  23. And what is Grenville planning to do with the massive pedophile population in Barbados, will he deport them.

  24. CUP/BFP.Violet Beckles Plantation Deeds from 1926-2017 land tax bills and no Deeds,BLPand DLP Massive land Fruad and PONZI on said:

    Before any rules are changed on any level all those DLP and BLP need to be charged with crimes, they need to answer for what they all have done, The lawyers need to pay and accounts must be settled, The Massive Fraud on History Must be fixed, Archives, Land Registry, Land Tax records, All things in our History from 1913 must be put back in place and the History Books must be written based on facts, the High court records must be taken from Sir David Simmons private volt,The major Law Firms in Barbados must be put on NOTICE, What they don’t fix alive their Families will pay for, The first reform will be Truth,

    When Mia leave office she shall be arrested and charged with fraud, all her long talk as if she is free from her crimes upon the lands and people of Barbados, Money laundering, land fraud, the Britton’sHill Cave in Murders, All of the lawyer have a role in CLICO and land Fraud, Taxes unpaid will be paid,

    Most think my words on BU are jokes, We will keep pushing the Truth as some of you are now waking up,
    Your history must be good to get loans from any banks in the world and local, Where is Barbados history to receive loans from the World Bank? IDB? IMF, so we can’t go there for nothing, Barbados will not show the World they FRAUD RECORDS,

    IDB took back 60 Million for the City, IDB took Back 160 Million for 4 SEASONS,

    REFORM THAT MIA! MIA YOU can’t move ahead without We the people clean up you mess for when you was Attorney General of Barbados, You can’t see Owen ran from you, But we also will get his ass in court Next, We will see who want to take the Ple deal and come clean with the Nation,

    Not to worry we have already seen your backup Vote splitting party SB, Sons of Bitches leader for the next level of crime, You want to manage crime and fraud better than the DBLP, Not on BFP watch Skipper. You can not fix what you was a part of, 2nd He refuse to hear Truth and want to push it under the rug, The rug is now a MOUNTAIN now in Barbados,

    last Election when they all was asleep we went after the Head PM head and now we going after your Head Mia, Two headed snake in Barbados and SB Snake Basket looking to grow a 3rd head,

    Bajan Free Party/CUP

  25. “But godliness with contentment is great gain.” 1 Titus 6:6
    We can all be thankful for the many strides made in regards to social and economic developments over the last fifty years, somewhat due to historical representations, but now is a time for consolidation. Governance by a National TEAM of twelve meritocratic sectoral representatives, as you intimated, chosen by voters on a digital platform, to take up the posts traditionally held by permanent secretaries can provide professionally qualified leadership for more businesslike management of the islands economic sectors. Geographical constituency representatives with its’ electoral verbosity and parliamentary partisanship can be put aside, along with costly interference that give rise to budget deficits and devaluating debt. A modern system, designed and developed to increase awareness and engage the citizenry in ongoing decision making can more effectively and efficiently cope with changing parameters and cater to an incorporated Barbados which National vision is to provide fair opportunity for enterprise, immediately balancing the public sector budget and building confidence needed to convert debt to equity for the long haul.

  26. David

    My attention is focus on Mia Mottley. The BLP would like us to believe that under their watch all was pink roses and daffodils. That the representation they provided Barbados for 14 years was without incident and controversy. That they were so busy being meticulous and astute that the need for ITAL, freedom of information or anticorruption laws was not a necessity. A near decade later since the electorate decided their fates, the present day reality is that a growing number of Barbadians have lost confidence in their party political representatives and the BLP is not exempt from that dubiously held notion. Mia Mottley can talk about amending our system of representation, or her okra slush of sweet promises, but the crux of the troubles of Barbados governance is steeped in the yearly reports generated by the Audtior General that needs to be part of her sweet sounding speeches and basket of political goodies. The amendment that is vitally needed is one that will reform the financial mismanagement and ease at which tax payers dollars are filtered into waiting pockets. At least one speech for which we can hold her accountable is the speech were she will implement the long in waiting ITAL, anticorruption legislations, whistle blower legislation, increase the powers of the Auditor General to go after all those practicing skulduggery, and keep a wedge plugged deep in every ministry that it will be virtually impossible for them to manipulate or default on presenting financials in a timely manner.

  27. Why it seems as if the PS in Government Ministries getting a pass, in all this mismanagement of Barbados

  28. It is not a governance issue to question why the NIS should pump Bds$76m in building new police stations; it is one of competence.
    It is not governance when a minister of finance can condemn from the sideline banks going on strike and refusing to process mortgage applications. It is a sign of weakness and ignorance of his responsibilities.
    Apart from construction jobs for a brief period, how will new police stations add to the nation’s GDP?
    Who regulates these foreign banks, or can they operate as they like? We want our official Opposition and any other aspiring political parties to speak to the reality on the ground, not just by condemning, but by telling us what they will do if in government and in what time span.
    By the way, who are the contractors for these ew police stations?

  29. Hmmm David seems Imgur has blocked my posters from uploading on BU. Can you work your magic and feature this simple poster for all to see, pretty please with a few kiss on top..

  30. Barbados has no regulatory control over foreign banks. The Central Bank has some type of lead way with respect to certain controls, but in them, as well, are fundamental clauses that works favourably in the outside banks favour. The government has to give them the lead way just like the set of perks government has to offer as its bags of goodies if they are to attract international investment to our shores.

  31. Sunshine Sunshine,
    You are right and you are wrong. The Barbados regulator, at present the central bank, has full legal regulatory authority over all banks operating in Barbados, be they subsidiaries or branches or stand-alone financial institutions.
    The reality is that they do not, either through fear or supine deference. Take the Canadian banks: our former central bank governor, Dr DeLisle Worrell, is on record as saying how competently regulated they were and how they managed the 2007/8 global banking crisis. He was wrong on both counts.
    Canada’s reputation rests on its being a white-majority nation, that is its justification for being a member of the G7, but its banking regulation is not top class; it plays in the second division while the big central banks are in the premier league.
    Second, no matter what the Barbados central banks says, if a subsidiary is told not to do something by its head office – in Port of Spain or Toronto – who do you think the local executives will listen to. They will ignore the Barbadian authorities because they know political pressure can be brought on them to fall in line. It is called guts to stand up to these behemoths.
    A well-informed minister of finance will be prepared to give the central bank governor the powers to regulate any financial institution operating out of Barbados. What is what sovereign power is all about.

  32. Hal Austin

    What sense it makes telling me that the Central Bank has regulatory control when the banks are operating as they like? That is the reason why I chose to say ”some lead way” but like everything else in Barbados to do with direct foreign investment, the foreign banks operates under certain liberties afforded.

  33. Sunshine Sunshine,

    Therefore, if the regulatory legislation is there, then it is a question of enforcement. Is that correct. You cannot blame the banks for bad regulatory and supervisory enforcement.
    That is the same thing with insurance; the only financial institutions that face the regulatory hammer are credit unions.
    At some point Barbadians, especially our politicians and senior civil servants, must accept like a recovering addict that our institutions and administration are not the best they can be.
    We need radical reforms and this is what our politicians, political parties, media and community blogs fail to accept.
    We are inward looking, suspicious of new ideas, and celebrate mediocrity. We must open ourselves to a free market of ideas, not treat them as if they are weapons of mass destruction.
    Eve in BU, the best of the bunch, new ideas are treated as if they are suicide bombs with foul-mouth abuse, and character assassination as an alternative to engagement.
    In simple language, our central bank for years has failed to regulate the foreign-owned banks who, in turn, treat Barbadian savers and businesses as if they are from Mars.

  34. The following were submitted by BU (David?)
    “The promise made by Opposition member of parliament Dale Marshall that it is hoped a revamped bill will emerge from the joint committee quickly, must be taken with several grains of salt. In fact, it should probably be dismissed as an untruth delivered with the confidence of a politician who knows the tolerance threshold of Bajans to be passive.”

    Ralphie was correct after all, there is no difference in philosophy between the BLP and DLP
    June 23rd 2011

    “When the Prime Minister announced recently that the Prevention Against Crime Bill is coming , it caused the political cynics to snigger. BU believe that Stuart is serious about delivering the legislation. This is a man who exudes honesty and integrity when it comes to his parliamentary colleagues . He appears to be the type of man who will do what is right and let the chips fall where they may………..”
    March 5th 2012

  35. Hal Austin

    You kidding right! I know you ain’t pun-ing right now. Have governance in Barbados not show us all clearly that when it is expedient, regulations are to be ignored and when it is necessary, it must be enforced? The law in Barbados operates as a mule for certain entities and a muzzle for others. So with Credit Unions, the regulatory controls show how their bias long stretch arm works, especially when they banking masters say to the government, if you do not muzzle that fast growing big union moose, we will pull the plug on our agreement and high tail it out of your dependent little trying hard to be first world island. The government who do not want to return to the noose that would strangled their little accustom comforts happily agrees and seek to impose upon their local threat, the keep in check controls. The Central Bank has regulator control, but their power is under siege.

  36. Antigua introduced in 2004 The Integrity in Public Life Act,The Freedom of Information Act and The Prevention of Corruption Act.It is significant that during the tenure of both the ABLP and the UPP administrations,appointed commissioners have complained of the lack of compliance by many.



  37. @ Hal, Austin.

    It is a fact that the Canadian Financial system came through the world financial crisis virtually unsullied. In fact your Government was so impressed, they selected the ex Canadian Central Bank Governor to shepherd the UK financial system through its financial meltdown.

    I think that the CBB has done well in regulating the foreign and local banks. The CBB’s job is not to show who is boss, but to ensure the banks act in accordance with the economic aspirations of Barbados.
    Why would any bank want to grant mortgages if the proceeds of a sale could be compromised because of a tax certificate?

  38. Bernard,

    Wishful thinking. That is the propaganda. Why then have the leading banks ended up with so much mortgage-backed derivatives on their books? That was carelessness. Of course, they missed most of the global crisis because they were small time player.
    About the joker we (George Osborne) recruited as governor of the Bank of England, it was an appointment of least resistance. I wrote furiously against it and only a couple weeks ago a former colleague reminded me of that campaign. I have also mentioned that in BU.
    The person who should rightly have had the job was Lord Turner, one of the most dynamic and original minds in global macroeconomics. His big problem is that he has a mind of his own and is an original thinker. A serious disqualification.
    Canadian banks may be big in Ottawa, Toronto, Vancouver and Bridgetown, but globally they are second eleven players. No disrespect.
    On the substantive point, if they want to set up shop in Barbados, then they obey the law or get out.
    If you want to see why they behave as they do, have a look at Chris Sinckler’s partial CV on the Barbados Parliament website. This man is not qualified to sell fish at Oistin’s.

    • @Hal

      You avoided the part of Bernard’s reply when he stated,’Why would any bank want to grant mortgages if the proceeds of a sale could be compromised because of a tax certificate?’

  39. Was not deliberate, David. The demand for a tax certificate is a silly policy. But the primary role of banks is to lend and if they are not lending residential mortgages then questions should be, must be, asked.
    Banks can do what they like, but they do not have any right to operate. Give them a deadline to resume lending or bar them for good.

  40. Has any bank in Barbados lost money because a client defaulted on a residential mortgage?

    Who gets their money first when a “foreclosed property” is sold ?

  41. The bank; also it claims on the mortgage indemnity guarantee, which is a scandal. The borrower pays the premium the lender gets the pay out. Welcome the advance world of financial regulation in Barbados.

  42. @Hal Austin
    About the joker we (George Osborne) recruited as governor of the Bank of England, it was an appointment of least resistance. I wrote furiously against it and only a couple weeks ago a former colleague reminded me of that campaign. I have also mentioned that in BU.
    So the British Establishment didn’t pay any attention to you eh? Pity! Only in Britain
    I have noticed that you use this forum to continually launch ad hominem attacks against Canadian Banks you should apply a little history to see why and when they first came to the Caribbean and why they have remained while others came and abandoned these sunny isles including your beloved Barclays Bank DCO (Dominion Colonial and Overseas).

    Incidentally the chap who was hired from Canada to run the Bank of England was firmly against Brexit which will hardly win him any friends in Theresa’s May Gov’t and he was not the first Canadian based banker hired to run a British shop I also remember that Matthew Barrett former Chair of the Bank of Montreal was also hired to run the aforementioned Barclays back in 1999.

    Back to your tea and crumpet.

  43. Royal Bank of Canada boosts profit by 9 per cent to $2.8 billion

    Canadian Imperial Bank of Commerce , Canada’s fifth-biggest lender, reported a better-than-expected second-quarter profit, helped by growth across its businesses.

    Scotiabank profit rises 10% to $2.01B of net income

  44. @Sarge
    good to see your name.
    Barrett was Irish by birth, and began his banking career in London. So he had the requisite British Isles CV. Carney was partially schooled in England.

    The Cdn commercial banks were certainly 2nd XI players in 2000. However they went on a Global buying spree, which accelerated post 2007. Today they are well within the upper tier of the Intermediate Div, and some knocking on the door of Div 1. This is partially why the Caribbean region is no longer attractive, they have their feet in many other ponds.

    why don’t you open a bank in Bim? It would seem a ripe time? Minimal returns should easily attract some of the excess liquidity, and allow lending at reasonable rates. The Austin Bank has a good ring!!!

    In fact the Royal Bank may even offer you a sweetheart deal of some of their operations, especially if you take on some of their TrustCo’s which are literally rusting to death.

  45. @Hants
    my financial guru friends keep warning me, my portfolio is too heavily concentrated in Bank stocks. Yet they keep on going up, increasing dividends, and reporting larger profits every quarter. I don’t want them to be the biggest, just lucrative for the shareholders.

  46. “Has any bank in Barbados lost money because a client defaulted on a residential mortgage?”

    whatever happened to the lady Ann Riley and her issues. One H Cole was all over that but it seems to have vanished?

  47. @ NorthernObserver,

    your financial guru friends are obviously not risk takers.

    Its your money so trust your own judgement.

  48. @Hants
    There is no risk in buying Canadian Bank Stocks, actually Northern’s friends were trying to promote the wisdom of having a balanced portfolio, but his method is working for him and that approach is also paying dividends (pun intended) for yours truly.

  49. The simple truth is that for too long people have gotten away without paying taxes. I am amazed that lawyers who are known for holding up real estate transactions , in more ways than one, are making so much noise.

    • For those of you who do NOT understand the issue the tax clearances appear to be causing by way of Maria Agard’s FB page.. Also Kerri Symmonds did a reasonable job on Brasstacks yesterday although he had a hostile Glyne Murray to contend. with.

      From the desk of Kyesha Applewhaite

      Not everyone seems to be very familiar with the BRA Amendment Act controversy. That amendment basically requires a BRA clearance certificate for land transactions. Sounds very sensible, but there are few big concerns.

      Firstly, the clearance certificate is needed for the owner of the land, but there are many transactions that may be instigated by others for e.g:

      a. A tenant won’t be able to sublet to another tenant if his landlord owes BRA taxes;

      b. A qualified tenant won’t be able to exercise the rights given to them by law to buy their tenantry lot if the owner owes BRA;

      c. The Bank can’t sell a defaulting person’s property without first clearing that person’s personal taxes as well;

      d. A person who finally gets a judgment at Court can’t ask the Court to sell their debtor’s property to repay them without clearing their debtor’s personal taxes;

      e. Persons entitled to property through adverse possession probably won’t be able to get title without somehow getting a clearance certificate for the original owner;

      f. A spouse or business partner who is trying to sell property could lose their share of the sale proceeds, or some of it, if the monies need to be used to first clear the other spouse’s taxes.

      As such, if you’re a third party your right to use or enforce your own interest in a property will be deprived if the owner of the property owes personal taxes. Since that deprivation is without compensation, it could be seen as unconstitutional.

      Another big concern is that this is being applied without set off. So if you are a business owner who has fallen on hard times and is trying to refinance your mortgage, you may be unable to do so if you owe BRA $10,000.00, even if BRA also owes you $10,000.00. You will simply have to find the money to pay BRA- but not through a Bank most likely, since you don’t have a clearance certificate!

      Practically, since all banks will likely now want clearance certificates from their borrowers at least annually, it means that BRA will somehow need to churn out tens of thousands accurate clearance certificates in a timely fashion. That may be beyond their resources and capacity.

      There are other big concerns with the amendments but those are the biggest, to me.

      My thoughts are that the Government perhaps should have just strengthened the tools they already have. For instance, under the VAT Act, if Joe owes BRA $100 and he provides landscaping services to Jane, BRA can serve a notice on Jane telling her to pay it any monies she owes Joe instead, up to $100.00. Perhaps the Government could have simply required lawyers to give notice of impending conveyances and the amount of the net sale proceeds and served the appropriate notices.

      Trying to make personal taxes something like charges on land but not quite is pretty messy and can have unintended consequences.

  50. Northern,
    You say that in a facetious way, but there is a serious housing crisis in Barbados on the supply side, which the foreign-owned banks are partly responsible for.
    A few years ago I brought a leading mortgage lender down to Barbados with the expressed intention of setting up business.
    I took him round to see a number of people and he was impressed. I even took him up to Oistin’s on the Thursday night and he engaged in some karaoke and loved it.
    I then took him to a leading law firm in the shadows of the new court building and a young lawyer there promised to email him the necessary documents for setting up the company. Of course, they never arrived.
    A later meeting with the head of the chambers in London turned out with the man being talked out of setting up business in Barbados. It was a case of Barbadian politicians, businesspeople and lawyers offering a service not asked for. All the man, the CEO of the company, wanted was local legal advice; he had his top team of lawyers in London to go over any documents.
    In another case, I introduced Invest Barbados to a director of one of our challenger banks in London to speak at one of their conferences; but in typical Barbadian ways, the person from Invest Barbados tried bypassing me to go direct to the guy. Of course, no decent person would tolerate that. People have integrity. He too was very keen on setting up shop in Barbados and even persuaded his chairman to visit. I spoke to at least two leading QCs in Barbados to get the chairman’s dog in without going through quarantine.
    So, those people who visit Barbados are often business people and they love the country. The bank director is a Yorkshireman and his idea of Heaven is to be in the same country as Garry Sobers, Wes Hall and Charlie Griffith, the heroes of his youth.
    We have the opportunities to do lots of things; our problem is allowing locals to be the face of Business Barbados – but they are too cheap or conceited to hire good consultants.
    By the way, whatever happened to the report by Sir Courtenay Blackman on a credit union bank?
    Then again, if |Owen Arthur knew bugger all about banks, Sinckler knows even less.

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