Brantley wants growth restored in financial services

MyVueNews Staff-writer

Basseterre, St. Kitts, 12th April, 2018 (MyVueNews.com) – Premier Mark Brantley, the Minister of Finance in the Nevis Island Administration, called on financial services providers to help restore vibrancy to the sector.

Premier Brantley was addressing a forum on the sector at the Paul’s Anglican Conference Hall, on Wednesday, 11th April.

He told the forum, “I’m concerned that the sector is not growing. The sector is stagnant, and what we have seen in terms of government revenue is that we have plateaued at about $12 million, and we have been there from time immemorial.”

Brantley continued, “Truth be told ladies and gentlemen, at $12 million per year, we are in the chitlin leagues. We are not even in the big leagues. We are not even in the medium leagues and for an industry which is over 30 years old, I think we have to do better. You have to do better; the government has to do better. Together, we have to determine what is the best strategy to ensure that we can once again, return to the days of growth in this particular sector.”

Brantley also pointed to the challenges faced by the industry, some of which were beyond the Administration’s control. Nevertheless, they continued to take the steps necessary working with international partners to ensure the maintenance of a viable Financial Services Sector on Nevis.

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