House of Assembly to meet Tuesday: St. Lucia Government seeking approval to guarantee EC$202M loan to finance the Hewanorra International Airport Redevelopment Project

(Office of the Parliament)- A Sitting of the House of Assembly is scheduled for Tuesday, Nov. 10, 2020 with Papers to be laid by the Honourable Prime Minister and Minister for Finance, Economic Growth, Job Creation, External Affairs and the Public Service, the Honourable Minister for Agriculture, Fisheries, Physical Planning, Natural Resources and Cooperatives, the Honourable Minister for Commerce, Industry, Enterprise Development and Consumer Affairs and the Honourable Minister for Tourism, Information, Broadcasting, Culture and Creative Industries.

The Motions for consideration are as follows:

BE IT RESOLVED that Parliament by affirmation resolution approves the draft Value Added Tax (Rate of Tax) (Tourism Sector Goods and Services) Order to vary the rate of tax for goods and services provided by a hotel and other providers in the tourism sector to set the rate of tax for tourism sector goods and services as follows – (a) the rate of seven per cent tax applies with regard to a supply of a tourism accommodation service; (b) the rate of ten per cent tax applies with regard to a supply of – (i) food and beverages, including, alcoholic beverages, by a restaurant, (ii) water sports, (iii) tours conducted by land, air or sea within Saint Lucia, including a direct supply of transportation services by the tour operator as part of the tour package, but excluding an indirect supply of transportation services by a tour operator, (iv) admission to heritage sites and other touristic attractions.

BE IT RESOLVED that Parliament authorizes the Minister of Finance to borrow an amount of US$30,000,000 from the Caribbean Development Bank, consisting of a Special Funds Resources portion in the amount of US$10,800,000.00 and an Ordinary Capital Resources portion in the amount of US$19,200,000.00, for the purpose of financing the implementation of policy reform initiatives designed to support Saint Lucia’s COVID-19 Crisis Response and achieving fiscal stability;

BE IT RESOLVED that Parliament revokes the Finance (Administration) Act – Resolution of Parliament to Authorize the Minister for Finance to guarantee borrowing by the Saint Lucia Air and Sea Ports Authority from a syndicate of banks led by the Bank of Saint Lucia Limited to finance the Hewanorra International Airport Redevelopment Project, published as Statutory Instrument, No. 124 of 2019;

BE IT FURTHER RESOLVED that Parliament authorizes the Minister of Finance to guarantee a loan in the amount of EC$202,500,000.00 for the purpose of financing the Hewanorra International Airport Redevelopment Project by the Saint Lucia Air and Sea Ports Authority from a syndicate of banks led by the Bank of Saint Lucia Limited as follows – a) Bank of Saint Lucia Limited – EC$58,900,000.00; b) 1st National Bank St. Lucia Limited – EC$54,500,00.00; c) Grenada Co-operative Bank Limited – EC$40,100,000; d) Antigua Commercial Bank Ltd. – EC$24,500,000.00; e) Eastern Caribbean Amalgamated Bank – EC$24,500,000.00;

The following Bills are down for consideration:

1. Public Finance Management

2. Public Procurement and Asset Disposal (Amendment)

3. Saint Lucia Tourism Authority (Amendment)

4. Tourism Levy

Tuesday’s Sitting is scheduled to commence at 10 a.m. The Sitting of the Senate is scheduled for Thursday, Nov. 12, at 10 a.m.