Tuesday, Jun 18th

LATEST:
You are here: Editorial Editorial Editorial - A while longer

Best_of_2015_587x57_Results

Editorial - A while longer

What was becoming increasingly obvious now appears unavoidable. St. Maarten faces an instruction to bring its 2015 budget in line with requirements of the Kingdom Financial Supervision Law (see related article).

Just last Wednesday Prime Minister Marcel Gumbs had stated that draft amendments were at Parliament to increase the budget by 15 million guilders and shift some allocations, based on increased income projections and other complementing factors. However, that was evidently not enough to convince the Committee for Financial Supervision CFT, which has insisted that revenues were over-budgeted by NAf. 19 million. Finance Minister Martin Hassink reportedly was told so in no uncertain terms during recent talks in The Hague.

In his opinion and that of colleagues in the Gumbs cabinet, the country was not given enough leeway to reach the targets set and cooperation from the Netherlands to improve matters also is lacking. Be that as it may, the Government in Philipsburg will have to come up with 60 million guilders to compensate for past deficits and pay off the arrears to the General Pension Fund APS and Social Health Insurance SZV totalling some NAf. 189 million in the next three years.

Another intended measure to increase the pensionable age from 60 to 62 probably cannot be met until the end of the year and thus won’t have any impact in 2015. While the Finance Minister clearly is not to be envied, he will have little choice but to obey, whereby hiring Dutch personnel for the Tax Department to increase fiscal compliance hopefully can assist.

Moreover, the committee that evaluated the Financial Supervision Law as agreed five years after it was introduced per 10-10-10 came to the conclusion that it’s better to keep such in place for now, because both Curaçao and St. Maarten so far have not shown they are able to guarantee a sound budget and proper management of public finances on their own. As the Kingdom Council is likely to follow this advice, it seems Hassink and possibly also his successors will have to contend with CFT for quite a while longer.

Like it or not, that is something many actually may find reassuring in light of previous experience with Antillean politicians.

Image
St. Maarten midday Weather Forecast for Saturday
Saturday, 17 October 2015
DATE ISSUED: Saturday, October 17, 2015 @ 12:00 LST (16:00 UTC) VALID UNTIL: Sunday midday (12:00... Read more...
Image
SHTA poll: Businesses want anti-ship-jumping legislation
Saturday, 17 October 2015
Click here for SHTA graph pdf PHILIPSBURG--The St. Maarten Hospitality and Trade Association... Read more...
Image
Dominica’s tourism sector ready to welcome visitors after TS Erika
Friday, 16 October 2015
ROSEAU, Dominica--“Dominica is open for business and ready to welcome visitors to its shores.”... Read more...
Image
Reparations Committee: Withdraw Queens’ names from Suriname’s highest mountains
Thursday, 15 October 2015
PARAMARIBO--Suriname’s National Reparations Committee NRCS has filed a request with President... Read more...
Image
Ex-US House Speaker Hastert to plead guilty in hush-money case
Friday, 16 October 2015
CHICAGO--Former U.S. House Speaker Dennis Hastert is expected to plead guilty in a hush-money case... Read more...
Image
Hillary Clinton to 'look hard' at Julian Castro as possible VP pick
Friday, 16 October 2015
WASHINGTON--Democratic presidential contender Hillary Clinton won the backing of Housing and Urban... Read more...
Image
Half a million Yemen children face severe malnutrition
Friday, 16 October 2015
GENEVA--More than half a million children in Yemen face life-threatening malnutrition as a risk of... Read more...
Image
Modi to open 70-year-old files in challenge to Gandhi dynasty
Friday, 16 October 2015
NEW DELHI--Prime Minister Narendra Modi says he will seek to unravel one of India's most enduring... Read more...
Image
Cuba in cash crunch due to low commodity prices, Venezuela woes
Friday, 16 October 2015
HAVANA--Low commodity prices, a drought at home and Venezuela's economic crisis have created a cash... Read more...
Image
Apple's newest courtroom foe is patent-savvy university
Friday, 16 October 2015
NEW YORK--As a veteran of the global smart phone wars, Apple is used to courtroom battles with... Read more...
Image
Focus needs to be on fighting crime & helping unemployed
Friday, 16 October 2015
Dear Editor, With all of the political situation on the island, we can't lose focus on some of the... Read more...
Image
Had enough
Friday, 16 October 2015
Dear Queenie, My brother died years ago but his widow stayed close to our family. Eventually she... Read more...
Image
RBC St. Maarten Little League School Tournament
Saturday, 17 October 2015
Sister Marie Laurence defeated Leonald Conner in the RBC St. Maarten Little League School... Read more...
Image
Nadal trounces Wawrinka, Djokovic tames Tomic
Friday, 16 October 2015
CHINA-- Former world number one Rafa Nadal displayed more signs of a return to top form with a... Read more...
Image
Junk shop photo spurs quest to confirm Billy the Kid image
Friday, 16 October 2015
DENVER--For the $2 he spent to buy three old photographs, Randy Guijarro may have hit the mother... Read more...
Image
Few signs of improvement for NBA star Odom after collapse
Friday, 16 October 2015
LAS VEGAS--Pro basketball and reality TV star Lamar Odom spent a third day hospitalized on... Read more...
Image
Bruney cruises into retirement
Friday, 16 October 2015
~ After three decade in cruise industry ~   By Alita Singh   Frank Bruney has seen tiny... Read more...
Image
ALL HANDS ON DECK, WE MADE IT!
Friday, 16 October 2015
~ Fair Transport Sailing Vessel Nordlys is launched ~   St. Maarten has been graced by the... Read more...
Editorial - Anybody’s guess
Saturday, 17 October 2015
Governor Eugene Holiday has decided to seek legal clarity on the current constitutional impasse.... Read more...
Editorial - Time is up
Friday, 16 October 2015
With so much ongoing constitutional turmoil, the fact that more than 100 people attended the... Read more...
Image
Saturday Oct. 17, 2015
Friday, 16 October 2015
Image
Friday Oct. 16, 2015
Friday, 16 October 2015
Notices October 16
Friday, 16 October 2015
General Meeting St. Maarten Professional Softball Association (SMPSA) general meeting for the... Read more...
Notices October 15
Thursday, 15 October 2015
General Meeting S.M.P.S.A. general meeting for the softball season 2016 will be held at Sundial... Read more...