BASSETERRE, St. Kitts, C.M.C. – St. Kitts-Nevis is marking the 40th anniversary of its political independence from Britain with Prime Minister Dr. Terrance Drew outlining a new initiative aimed at revitalizing the twin-island Federation and expressing gratitude to its citizens
Dr. Drew described the initiative as “Independence 40 Reset,” saying that this transformative program embodies a commitment to fostering economic growth, improving living conditions, and recognizing the invaluable contributions of the citizens.
He said the Independence 40 Reset program consists of six initiatives: Workers’ Reset, Electricity Arrears Reset, Water Services Arrears Reset, Housing Arrears Reset, L.A.N.D. Reset, and the Building Materials Reset or Build and Thrive Incentive.
He said as a token of appreciation for their dedicated efforts and contributions towards nation-building, the government will provide a one-time payment of EC$1000(One E.C. dollar=US$0.37 cents) to contributors to the Social Security Fund.
However, only pensioners and active workers here will benefit from the initiative, and Dr. Drew said that no registration is required. Payments will begin this week and be processed using the banking details for Citizenship by Investment (C.B.I.) Dividend payments.
The Independence 40 Workers’ Reset bonuses will be financed through the profits generated from the island’s C.B.I. program, through which foreign investors are granted citizenship in return for making a significant contribution to the socio-economic development of the Federation.
Under the Electricity Arrears Reset, the government said immediate reconnection would be granted to all disconnected residential St. Kitts Electricity Co. Ltd (S.K.E.L.E.C.) customers.
“Citizens are encouraged to maintain regular payments, and S.K.E.L.E.C. is available to assist with payment plans. Responsible energy consumption is encouraged to conserve energy resources,” Prime Minister Drew said.
The government said that disconnected residential Water Services Department customers will also benefit from immediate reconnection under the initiative.
“The Water Services Department is prepared to assist with payment plans.” Still, Prime Minister Drew encouraged citizens and residents to maintain regular payments to avoid disconnection and to use water responsibly to conserve this vital resource.
The Housing Arrears Reset program also includes significant relief for housing-related arrears.
Prime Minister Drew said all penalties on arrears from the National Housing Corporation (NHC) will be eliminated and that all customers with outstanding mortgage balances will experience a reset to the principal amount, and for those NHC customers who are up-to-date with their payments, the interest on their mortgages will be frozen until March 2024.
Under the L.A.N.D. Reset, Prime Minister Drew said significant initiatives would be implemented under the Land Normalization Allocation and Distribution (L.A.N.D.) Reset, effective September 30 this year.
“As a strategy for alleviating the pains and delays in home ownership, mortgage access, and registration challenges, we have devised a strategic pathway to land ownership and empowerment as a government.”
Under the L.A.N.D. Reset, the interest rate on residential lands has been reduced significantly from 12 percent to six percent annually.
“interest accrued or built up on lots distributed between 1998-2022 will be removed. All payments will, therefore, be assigned to the principal or the balance,” Prime Minister Drew said, adding that interest rate waivers have been extended from two years to three years after land allotment.
“The new reduction would, therefore, mean that all residential land applicants with outstanding balances will now have a grace period of three years, beginning October 1, 2023, to September 30, 2026, to settle their outstanding balances without added interest to their principal,” Prime Minister Drew said.
The government said that all new landowners will now have six months to pay instead of the traditional three months to make the required 25 percent deposit on new land purchases.
New landowners will also enjoy a six-month interest-free period to make their deposit.
Building Materials Reset:
The Building Materials Reset is also dubbed the Build and Thrive Incentive. Under this initiative, first-time homeowners with a mortgage of up to EC$500,000 and homeowners wanting to renovate their homes will benefit greatly. For First-Time Homeowners, there will be no import duty, no Customs service charge, and reduced Value Added Tax (V.A.T.) to 13 percent for one year from the start date of project approval.
The government said homeowners who wish to renovate or repair their homes incurring an amount up to EC$500,000 would receive similar benefits: no import duty, no Customs service charge, and reduced V.A.T. to 13 percent until December 31, 2024.
Meanwhile, the Federation has received congratulatory messages from the Caribbean Community (C.A.R.I.C.O.M.), the United States, and Germany, among others.
In a congratulatory message, C.A.R.I.C.O.M. Secretary-General Dr. Carla Barnett noted that the Federation is observing the 40th anniversary under the theme “Growing Sustainably, Developing Maturely, Building Resiliency: Independence 40”.
“This is a significant milestone in the Federation’s history and a time to reflect, with pride and satisfaction, on your development over the past four decades as an independent nation. The resourcefulness, creativity, and determination of the people of St. Kitts and Nevis are seen in your accomplishments, particularly in tourism, sports, education, and business. “
She said C.A.R.I.C.O.M. has greatly benefitted from the commitment of St. Kitts-Nevis and that the Federation remains a consistent and dedicated advocate for issues related to regional Human Resource Development, Health, and HIV/AIDS.
She told Prime Minister Drew that C.A.R.I.C.O.M. “looks forward to your continued active engagement as we seek to realize our regional health, wellness, and development objectives.”
IN A STATEMENT ON TUESDAY, U.S. Secretary of State Antony J. Blinken said Washington and St. Kitts and Nevis enjoy a close relationship founded on respect for democratic values and our shared commitment to combat global challenges.
“Through the Caribbean Basin Security Initiative, the U.S.- Caribbean Partnership to Address the Climate Crisis (P.A.C.C. 2030), and other initiatives, we work together to combat the climate crisis, promote regional security, bolster access to clean energy and food security, and encourage economic prosperity for our peoples,” he added.
“As we celebrate 40 years of our bilateral relations, I look forward to continuing and building on our strong ties in the years to come,” Blinken added.
According to the U.S. Department of State, present-day St. Kitts and Nevis was the site of Great Britain’s first Caribbean settlement in 1623.
President of the Federal Republic of Germany, Frank-Walter Steinmeier, in congratulating Governor General Dame Marcella Liburd, wrote, “The only way to tackle the current challenges is to work together.
“It is with deep gratitude that I regard your country’s continued international support in condemning Russia’s war against Ukraine and your commitment to rules-based cooperation among states.
“Climate change is also one of the global challenges of our time. Dr Christophe Eick, our new Ambassador in Port of Spain who also serves as Special Representative for Climate in the Caribbean Island States, is available to you as a competent point of contact for stepping up our dialogue and our cooperation in this fiel
and then 