{"id":155642,"date":"2022-07-12T07:37:05","date_gmt":"2022-07-12T11:37:05","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=155642"},"modified":"2022-07-12T07:41:07","modified_gmt":"2022-07-12T11:41:07","slug":"auas-rental-of-naval-base-facilities-will-supplement-income-to-social-security-scheme-pm-says","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/auas-rental-of-naval-base-facilities-will-supplement-income-to-social-security-scheme-pm-says\/","title":{"rendered":"AUA\u2019s rental of Naval Base facilities will supplement income to Social Security Scheme, PM says"},"content":{"rendered":"
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he Social Security Scheme should be renting one of the properties it owns \u2013 the former United States Naval Base \u2013 to the American University of Antigua (AUA).\u00a0CLICK HERE TO JOIN OUR WHATSAPP GROUP FOR NEWS UPDATES.<\/em><\/strong><\/a><\/p>

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During the sitting of the Lower House today, July 11, Barbuda MP Trevor Walker asked a series of questions pertaining related to the Social Security Scheme.<\/p>\n

<\/div>\n

In particular, he asked how much cash the Browne Administration has paid on the $330 million bond issued to Social Security, in 2010, by the United Progressive Party Administration.<\/p>

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It was then that Prime Minister Gaston Browne mentioned the AUA\u2019s intention to rent the Social Security property at Dutchman\u2019s Bay.<\/p>

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<\/div>\n

At present, the Immigration Department uses part of the facility as its detention centre, and another area is used as a prison to house a British citizen serving a 15-year sentence.<\/p>\n

Browne claims the entities now using the Naval Base pay nominal sums monthly in rent.<\/p>

\"\"<\/a><\/div>\n

Meanwhile, Browne \u2013 the Minister of Finance \u2013 did admit that his Administration has paid only $3.5 million cash on the bond in nine years.<\/p>\n

In contrast, the UPP has reported \u2013 and it has been confirmed \u2013 that it deposited $30 million in cash on the bond.<\/p>

\"\"<\/a><\/div>\n

Browne continues to claim, however, that his is the only administration to have paid more monthly contributions than the UPP put into the depleted Scheme.<\/p>

\"\"<\/a><\/div>\n

Responding to Browne\u2019s boast, Walker\u2019s reminded Browne that his administration has had the resources of the Citizenship by Investment Programme \u2013 $100 million annually \u2013 on which to rely.<\/p>\n

But Browne countered that the UPP could have made similar payments, alleging that it was in a better position and had greater cash flows from loans taken during its terms in office.<\/p>\n

This is a claim that has been refuted over the years by members of the Spencer Administration, with denials bolstered by successive annual budgets and IMF\u00a0Article IV Reports<\/em>.<\/p>\n

CLICK HERE TO JOIN OUR WHATSAPP GROUP FOR NEWS UPDATES.<\/em><\/strong><\/a><\/p>\n

\"\"<\/a><\/div>","protected":false},"excerpt":{"rendered":"

he Social Security Scheme should be renting one of the properties it owns \u2013 the former United States Naval Base \u2013 to the American University of Antigua (AUA).\u00a0CLICK HERE TO JOIN OUR WHATSAPP GROUP FOR NEWS UPDATES. 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