Antigua’s Parliament to Debate Jolly Beach Social Security Plan on Monday
Antigua and Barbuda’s Parliament is set to convene on Monday with the government’s controversial Jolly Beach–Social Security investment plan expected to dominate the agenda.
Prime Minister Gaston Browne has defended the transfer of Jolly Beach assets to the Social Security Scheme as a strategy to generate higher long-term returns and secure the fund’s future. He has rejected opposition claims that $75 million is being withdrawn from pensioners’ savings, insisting that the resort will serve as collateral and a revenue-generating investment.
Lawmakers will also consider a series of social and environmental measures, including the creation of a Social Housing Development Fund, seed funding for affordable housing, and the government’s One Million Trees initiative designed to improve the country’s environment.
The sitting comes amid heightened political tensions. The United Progressive Party (UPP) has announced plans to stage a protest outside Parliament during Monday’s proceedings, accusing the government of putting pension funds at risk and failing to provide adequate time for scrutiny of the budget.
Browne has dismissed the opposition’s stance as misinformation, arguing that Social Security will benefit directly from new revenue streams generated by Jolly Beach and other developments. The government has also pledged to provide a written guarantee that any potential losses would be covered by the Treasury.
The debate is expected to be one of the most closely watched sessions in recent months, with both government and opposition framing it as a defining moment for the future of Social Security and national development.
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Everything is ” misinformation” for this joker, when many of the things that were proposed came from his very own mouth.
This folk tongue PM think people are fools. Isn’t he the same one that said $75mil will be coming from social security and the rest will be funded by the CIP to cover the $300mil or so that’s needed to build more units at jolly beach?
That same $300 million has administration fees and everything tied into it along with the $75mil coming SS.
Correct me if I’m wrong, but that came straight from this man’s mouth. Where would anyone else get these ridiculous figures from other than this pigheaded man mouth?