Saint Lucia’s Citizenship by Investment Programme (CIP), once a beacon of economic opportunity, is now shrouded in controversy and allegations of corruption. The program has not undergone the mandated audits for the past two years, raising serious concerns about transparency and accountability. The absence of these audits is not merely a procedural lapse; it is a glaring violation of the legal framework designed to ensure the integrity and proper management of the CIP.
Amid this backdrop of financial opacity, allegations have surfaced that billions of dollars are being siphoned away from Saint Lucia. Such accusations, point to a systemic failure that undermines public trust and compromises the nation’s economic stability. The lack of transparency is further exacerbated by the government’s introduction of a new Infrastructure Investment Option within the CIP. While the idea of channeling investment into infrastructure seems commendable, the execution has been marred by a troubling lack of detail.
The selection process for developers remains a mystery. There is no clarity on the criteria used, the amount of money the government seeks to raise, or the funds that have been raised so far. This veil of secrecy fosters an environment ripe for corruption, cronyism, and financial mismanagement. Citizens and potential investors alike are left in the dark, with no assurances that the funds are being utilized for the nation’s benefit #PierreEhCare#PuttingYouWorse#WheresOurMoney#SaveOurSaintLucia
Criticism Mounts Over Philip J Pierre’s Proposed Tax Penalty Measures
The Government of Saint Lucia has proposed a series of stringent measures targeting individuals who have fallen behind on their tax payments. The proposal, which includes a dramatic increase in penalty interest rates and unprecedented authority granted to the Comptroller of Inland Revenue, has sparked a heated debate about the balance between enforcing tax laws and protecting citizens’ rights. Firstly,…
Read more
by Content Manager