In a rousing New Year’s Day address, St. Kitts and Nevis Prime Minister, the Honourable Dr Terrance Drew, set out his transformative vision for 2025.
Declaring this the ‘Year of Recovery’, Prime Minister Drew outlined his plans for a stronger, growth-centred and safer future. His vision is driven by several projects, many of which are supported by the Citizenship by Investment (CBI) Programme.
Economic and social support
In his address, Prime Minister Drew acknowledged the rising cost of living, pledging a historic $320 million investment to fight inflation and help families with living costs.
The $320 million will go to subsidising some of the most expensive parts of everyday life, including subsidising fuel and cooking gas. The funds also protect electricity prices, which will help households and businesses alike.
St. Kitts and Nevis’ Government also secured a national minimum wage increase to EC$430 per week.
The Prime Minister stated that the VAT relief holiday empowered families to invest in their homes while the flagship Budget Boost Wallet initiative gives eligible individuals with a monthly income of EC$5,000 or less a grant of EC$250 per month for the first half of 2025.
Prime Minister Drew also pledged to expand programmes such as the Livelihood Improvement Family Transformation (LIFT), a social assistance programme that helps families in poverty. LIFT focuses on helping families out of poverty through monetary assistance, skills and training development, and empowerment.
Summarising these efforts, the Prime Minister said, “All these are part of this government’s effort to address the rising threats of the cost of living and the international inflation crisis that are affecting all of us.”
Major Capital Projects
In Prime Minister Drew’s address, he highlighted the flagship capital projects which have strengthened the economy. Lauding 2024 as a productive year, he noted that the groundbreaking of the new Basseterre High School would help education flourish and give students modern facilities.
The Prime Minister also pointed to an EC$50 million investment in desalination plants, which are necessary to securing clean water access to future generations and will provide 2 million gallons of potable water each day. The new JNF General Hospital, upon which efforts are ongoing, will add to the healthy living enjoyed by future generations.
The people of Atlas, Sandy Point and St Peters are close to receiving 100 new homes.
“Housing, as you know it, is an essential necessity for our growing population. This Government, in its efforts to advance the people of this country, must and will ensure that their needs are addressed,” Prime Minister Drew said.
These projects will allow the people of St. Kitts and Nevis to capitalise on their futures and reach their potential, through improving living standards, health, education and housing.
Citizenship by Investment and the Sustainable Island State Agenda
Prime Minister Drew highlighted the achievements of the CBI Programme while also emphasising the importance of economic diversification.
The CBI Programme, according to the Prime Minister, is fundamentally important in the achievement of the Sustainable Island State Agenda. The Sustainable Island State Agenda serves as a national blueprint focusing on food security, renewable energy, economic diversification, creative industries, social protection, and health resilience.
CBI aids in funding the educational, vocational, and environmental programmes that contribute to the continued prosperity of the Federation. Recently reorganised into a new Citizenship by Investment Unit (CIU), led by His Excellency Cavin St. Juste, the Programme has never enjoyed such widespread acclaim.
By utilising CBI to invest in new industries, CBI can be used to diversify the economy and build up new and burgeoning industries.
The Prime Minister has been working hard over the past two years to ensure that the CBI Programme maintains the highest standards of integrity.
As recently as December of 2024, the Government took decisive action against known cases of economic citizens who participated in a discounting scheme, stressing that these economic citizens would lose their citizenship if they did not fulfil the full investment requirement.
A Hopeful Start to 2025
The Prime Minister’s address struck an inclusive and unifying note, calling for all citizens to work together in harmony to achieve national progress and full recovery. His words expressed optimism for the upcoming year.
His inspiring vision for St. Kitts and Nevis aims to secure a better, more prosperous future for all Kittians and Nevisians.
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