 Mr Speaker, as I deliver my 2023-2024 budget address, we as a country have good reasons to celebrate because of the economic gains we have made notwithstanding the external challenges and concerns about citizen security. In my maiden address last year, I reminded this honorable house and the people of Senusha of who we are and what we stand for. Mr Speaker, we have remained true to the principles that have shaped who we are and what we stand for. We have and have served us well in inclusiveness, accountability, equity, meritocracy and the rule of law. These principles, thankfully, have enabled us to protect the people of Senusha from the tidal wave of corruption, wastage and inefficiency which has threatened to destroy our country until redemption day, July 26, 2021. Mr Speaker, in planning for the growth and sustainability of our country, there are certain fundamental imperatives we must get rights. The challenges of the day have informed the strategic choices of my government, choices that seek to secure a better life for our people. The strategic choices for the 2023-2024 budget will focus primarily on three areas, health, national security and economic sustainability, the theme for this year's budget. Mr Speaker, as a government, our first responsibility is to ensure the safety of our people and the access to quality and affordable healthcare. The growth of a nation can only be powered by people who must be in good health if they are to be productive citizens. The ugly face of violent crime has been visited upon us and while it is mainly localized, we cannot ignore the danger of contingent. This is why we must address it swiftly and decisively. We have and will continue to empower law enforcement with tough legislation in the battle against crime. As a society, we need to do more to discourage the glorification of crime and help our people develop respect for human life. Crime must not be allowed to find fertile ground in our homes, places of business and recreational spaces. We must be of one mind in the fight against crime, otherwise it will be for long destroy all of us. Mr Speaker, as it relates to healthcare, the neglect and wastage of resources in the provision of healthcare during the last administration has left this government with a mammoth task. The citizens of this country deserve a much better healthcare system and this government has committed itself to ensuring they get it. Our primary and secondary healthcare systems will all be improved over time. High on the government's agenda is the completion of St. Jude Hospital and improvements in the operations of the OKEU Hospital. Our success in pursuing these strategic choices will require sound and prudent management of the country's financial resources and contributions from everyone. Already, we have been experiencing improvements in the country's fiscal position arising from initiatives we took last year. We shall, in 2023-2024, continue some of these initiatives while we adopt new and innovative ones. Mr Speaker, the economic science are clear. Our country is on a growth trajectory and every effort is being made to keep it safe. Mr Speaker, we must be reminded that it was this government who was tasked with the handling of the Delta and American variants and the full reopening of the country having dispensed with all COVID protocols. And it was this government that had to grapple with the global effects of the Ukraine war, inflation, supply chain issues and more importantly the human and psychological fallout from the COVID virus on our people. And if the challenges were not enough, we had to deal with inflationary pressures from outside, driving food and fuel prices to very high levels, the price of crude oil, which is a high of $123 per barrel, the second highest on record. Not to be outdone by external negative influences, the last administration embarked upon a reckless accumulation of unnecessary debt, leaving the majority of solutions feeling marginalized. This was the environment we inherited on July 26, 2021. Mr Speaker, the economy then was in reverse. With a contraction over 20%, nearly four billion in debt, investment was at a standstill with not one new hotel built in five years. Mr Speaker, the cans of corruption were spreading and spreading fast into our institutions. Over $300 million was spent on St. Jude Hospital with no hope of reprieve for patients housed in the probable conditions in the stadium. An airport overpriced and oversized, threatening to engulf the country into a further $1 billion of debts. The country's socioeconomic dashboard was flashing, life threatening danger ahead. Mr Speaker, 18 months later, we are experiencing a wellspring of economic growth. Unemployment is trending in the right direction and there is a renewed feeling of hope in the country. We cannot now allow this renewal to be dampened by threats to our citizen security. We must therefore fight to keep our country on track and continue with the transformation that has begun. We have the people to do it. This budget will seek to reinforce those pillars for the continued renewal and transformation of our country. Mr Speaker, this government continues to be guided and inspired by the philosophy and values of the founding fathers of our great party, the St. Lucia Labour Party. To open the doors of opportunity for every St. Lucia, it respected of their social and economic standing in the society. Our party originated from the bosom of the labour movement and has consistently served the best interests of the workers in this country. We must continue to build a society where free enterprise can flourish and that the rights of workers are protected and they can get a fair days wage for a fair days work. We must build a society where meritocracy and inclusion are valued and embraced as basic principles for progress and development. Mr Speaker, to ensure equality and fairness, the minimum equal wage commission is currently formulating a livable wage for workers in St. Lucia. All sectors, including the private sector, will be consulted and an appropriate announcement will be made. Mr Speaker, we expect to commence negotiations with public officers in an amicable and realistic environment at the earliest possible time. Mr Speaker, this government continues to build and gain the trust of the people by delivering on its promises. In my last budget, we promised and delivered paid facility fees for 24,000 primary and secondary school students, procured 10,000 electronic devices for students under the one laptop per child program, made available for 1,200 M5 devices to households to assist students with distributed learning, paid CXMF and English fees for all secondary students, secured low-cost ICT services for income stressors for income households at $20 per month for about 5,000 households, provided bachelor's degrees scholarships in keeping with the policy of one university graduate per household, allocated 7 million to the home care program to secure care for the elderly, paid an additional 10 million to the Ministry of Equity to provide social assistance to the needy, subsidies on the price of fuel, flour and rice, paid 18.3 million in back pay to public servants during the fiscal year, paid severance of 4.4 million to 47 former employees of Liat 1974 Limited, paid long outstanding termination benefits to 196 former employees of Majestic Industries Limited, paid government pensioners a one-off payment of $500 each last year, effective 1st January 2023, all workers earning up to 25,000 annually pay no income tax, over 10,000 workers pay no tax on the income, a 4.2% increase for NIC pensioners, paid $800,000 in flood relief to households affected by November 6 weather events, launched the MSME loan grant facility of 10 million in grants and loans to micro, small and medium businesses, launched the youth economy, providing training, marketing, finance and mentorship to youth entrepreneurs, provided 1 million to reinstate the distressed fund. Mr Speaker, as an open economy, we are affected by what takes place in the international community. Therefore, in preparation for this budget, we remain mindful of events and developments taking place in a wider environment. Mr Speaker, despite the reopening of the larger economies, global economic growth was estimated to have fallen sharply from 6.2% in 2021 to 3.4% in 2022. This global economic decline has been occasioned by the war in Ukraine, the COVID-19 lockdowns in China and more recently the dramatic collapse of a few significantly sized banks. Mr Speaker, the attendant consequences of some of these global events brought with it unprecedented levels of inflation in 2022. Mr Speaker, we also witness coordinated monetary policy, tightened by major central banks in their fight to curtail rising inflation. The rising interest rates over a short period has had the effects of eroding the balance sheets of many financial institutions and the threat of contagion within the international financial system. Mr Speaker, growth in our major tourism source market, the USA, has slowed from 5.9% in 2021 to 2% in 2022. The rising headline inflation prompted the Federal Reserve to increase interest rates 7 times, bringing it to a high of 5% in March 2023, the highest level in 15 years. Notwithstanding these interest rate hikes, inflation in the US remains stubbornly high, averaging at 8.1% in 2022 and peaking at 9% in June of that same year. Mr Speaker, the encouraging news though is that the growth in jobs in the US in 2022 was 4.5 million, the second strongest on record. Mr Speaker, in the case of Canada, an important tourist market, its economy proved resilient in 2022, registering a growth rate of 3.5% so lower than that in 2021 of 5%. The United Kingdom's economy grew by 4.1% in 2022, a decline from 7.61% in 2021. However, the UK economy remains the only major advanced economy that has not fully recovered in its pre-pandemic level. A mid-political uncertainty, fears of a recession and runaway inflation, the British pound fell in value to its lowest level in decades in late September, approaching parity of the US dollar until a partial recovery in 2023. Mr Speaker, I now move to the regional environment. The Khayakum region experienced a more vibrant pace of economic recovery from the COVID-19 pandemic. Estimates show that most Khayakum territories recorded positive economic growth rates in 2022, driven by strong performances in Ghana's emerging energy sector and the continued rebound in tourist arrivals in the tourism-dependent economies since the lifting of COVID-19 restrictions. Ghana, St. Lucia and Barbados recorded the highest growth rates and St. Lucia recorded the second highest growth rate after Ghana. Mr Speaker, you have heard the rumour mongers and the prophets of doom that the economy is in a state of decay and facing economic ruin. The opposition predicted financial chaos with a government unable to pay its debts and public salaries. Mr Speaker, of course, disappointingly for them, none of this has happened. Even in a difficult external environment of global inflation, war in Ukraine, COVID and rising international political tensions. Notwithstanding a challenging external environment, I am pleased to report that the economy of St. Lucia is projecting real GDP growth of 18.1% in 2022. This is following a growth of 12.2% in 2021. Mr Speaker, this 2022 performance was reflective of strong performances in all sectors of the tourism industry and growth in manufacturing and the agricultural sector of 11.4% and 9.8% respectively. Mr Speaker, the development in the accommodation sector and restaurant sector was the largest contributor to the 2022 real growth of 18%. The accommodation sector grew by 58.5% and contributed 18.2% to total GDP. Of the 18.2% growth recall in 2022, 10.8% points were accommodation and food services. Tourism grew by 58%. Stayover arrivals 78.7% while cruise arrivals increased by 273.8%. These developments were due to the removal of all COVID protocols in September 2022. Growth in the number of cruise passengers and strategic and targeting market initiatives in North America and the UK. The second largest contributor to growth was wholesale and retail activity. This sector grew by 23.7% and contributed 10.6% of total real GDP growth. Growth in the sector represented 2.52% of the 18.2% growth. Telecommunications services were the third largest contributor to the 2022 GDP growth. This sector contributes 4.4% of total GDP and grew by 46% and represents 1.58% of the 18.2% growth that came from this sector. Manufacturing was the fourth largest economic sector. That sector grew by 11.4% in 2022 following a 4.2% growth in 2021. The 11.4% growth was the highest growth since 2007. This sector's contribution to GDP was 3.4%. Agriculture was the fifth largest sector. The sector grew by 9.8% following declines in 2021 and 2020. Its share of GDP was 1.6%. Mr Speaker, growth in economy in 2022 brought low unemployment with further reductions projected for 2023. The latest unemployment rate in December 2022 was 19%. With youth unemployment at 25.9%, both being the lowest since 2010. Mr Speaker, we remain committed to driving overall unemployment and in particular youth unemployment down to single digits before the end of this parliamentary term. Mr Speaker, the improvement in the performance of the economy has enhanced the government's fiscal position, which enabled continued provision of financial relief to individuals, particularly within the vulnerable and low income groups, to assist them in mitigating the impact of inflation. Mr Speaker, our overall revenue performance also increased driven by the expansion in domestic economic activity and elevated important prices. There were moderate increases in current expenditure, but the overall deficit declined from 287.6 million or 5% of GDP in 2021 to 17.3 million or 1.5% of GDP in 2023. Mr Speaker, following three consecutive years of deficit, the primary balance returned to a surplus of 82.4% or 1.3% of GDP, while the current balance improved from a deficit of 139.1 million or 27% of GDP to a surplus of 12.6 million or 0.2% of GDP. Mr Speaker, there was a deceleration in the total stock of public debt with the country's debt to GDP ratio down to 69.8% in 2022 from 85.9% in 2021. Mr Speaker, the government, mindful that the upturn in economic activity may not have been felt by the vulnerable, increased the public assistance budget by 5 million to 25.9 million for the year 2023. This figure represents the highest allocation to those most in need. Mr Speaker, notwithstanding the increases in allocation for public assistance, the Senlush social development fund, SSDF, distributed over 17 million dollars in social intervention programs. Downside risk. Mr Speaker, while the domestic economy is showing positive signs of growth, there are some downside risks that we need to guard against. These include supply chain issues and increasing freight costs, prolonged and escalated war in Ukraine, monetary policy tightened by central banks and rising interest rates, natural disasters and volatility in crude oil prices. Mr Speaker, it is necessary to inform the public of the true picture about fuel prices and the impact on the Senlushan people. Mr Speaker, I did not remind members that Senlusha is not an oil producing country and therefore has no influence over the price of imported petroleum products. It is for this reason the government is committed to exploring the use of renewable energy to reduce Senlusha's reliance on imported petroleum products. Mr Speaker, the increase in global demand for oil triggered by the increase in global economic activity as countries emerge from COVID-19 pandemic drove the price of petroleum products upwards. In Senlusha, during 2022, the average cost of the imported prices of gasoline, diesel and liquefied propane gas was up on the previous year by 43.3%, 83.7% and 65.3% respectively. The government has continued to apply the modified market pass through mechanism in its pricing of petroleum products. Mr Speaker, the government in 2022 foregone approximately 40 million dollars by subsidizing LPG cooking gas under modified pass through mechanism. Mr Speaker, despite our best efforts to cushion the rising price of the rising cost of petroleum products through lower excise taxes, the retail price of fuel range from 14.95 to 17.95 per gallon in 2022. Mr Speaker, for those who chose to ignore the effects of the government in protecting the consumer at the time of rising imported fuel costs, let me inform them that the excise tax in 2022 reached a low of minus 44 cents per gallon. In the three weeks ending July 2022, it was minus a dollar per gallon. The lowest since the modified pass through mechanism was adopted in 2029. Mr Speaker, in 2009, during 2022, the excise tax on diesel was negative for the greater part of the year. Mr Speaker, these negative excise rates means the government was paying the importers of fuel, soil and rubies 44 cents and $1 per gallon to ensure that the importers legally stipulated margins were secured. Mr Speaker, in the case of cooking gas, the protection provided by the government to customers was even more significant. The subsidy on the 20 pound cylinder rose from an average of 10.84 in 2021 to $19.43 per cylinder in 2022. In July 2022, the subsidy on cooking gas reached a high of $30.39 per cylinder. Mr Speaker, this is the real picture of the government's assistance in shielding consumers from the high imported costs of fuel which is contrary to the misinformation peddled by those who have made misinformation destable for communicating with the public. Mr Speaker, the words of Excellus come to mind, you must not pass along false rumours, you must not cooperate with evil people by lying on the witness stand. Mr Speaker, we noted and addressed the downside economic risks and challenges that confronted us and in so doing managed to maintain the economic stability and protected the livelihoods of our people. Mr Speaker, I now move briefly to some of the sectors and will allow ministers to provide details during their presentations. Mr Speaker, my government remains committed to the philosophy that education is the path to escaping poverty and experiencing a fulfilling life. This is why we encourage and promote lifelong learning and the joy of learning at an early stage. The Ministry of Education has embarked upon the transformational approach to improving our education system so that it is inclusive, responsive, accessible and relevant to the needs of the society. This transformational approach has necessitated improvements to the physical infrastructure, use of ICT, special training for teachers, promotion and access to good nutrition under our schools feeding program and the enhancement of our children's emotional intelligence. Mr Speaker, reforms are taking place at all levels within our education system. Our goal that every household should have a university graduate has been supported by an increase in the availability of university scholarships sponsored by friendly countries in particularly Taiwan, Monroe College and the government's university package of assistance program for which a sum of half a million dollars has been allocated in this budget. As it relates to reforms in the education system, special mention must be made of the growing concern about under achievement by our boys. To address this problem, a cohort of 40 teachers will receive training in gender-sensitive instructions in the latter part of this year. This, hopefully, should result in a reduction in drop-out rates among boys, particularly after COVID-19. The success of the TEVET program continues to meet the needs of students who are more receptive to learning outside the traditional teaching methods, providing them with practical learning and skills that are required in the workplace. TEVET remain an integral part of our country's education system. Mr Speaker, putting people first, this government subscribes to the policy of poverty reduction, a goal embedded in the United Nations sustainable development goals. Our philosophical position is grounded in the sentiments of the courts. Good economics begins with a general concern for people. Hence the reason, Mr Speaker, why the government for the Ministry of Equity continues to develop strategies that seek to improve the quality of life for the most vulnerable. Thousands of solutions continue to benefit from public assistance, child disability grants, education, housing assistance, home care support, and crime and violence reduction initiatives. Mr Speaker, government has made available $25 million for the public assistance program, the largest ever contribution to the vulnerable in our society. While the government continues to deliver social assistance, we believe that we must try to empower people and build resilience towards sustainable independent living. A graduation strategy for social assistance programs has been developed to ensure support for the people transitioning from social assistance or dependency to independent living. Mr Speaker, in my main budget presentation last year, I explained this government's vision of an economic space for the youth of St. Lucia. I stated that the youth economy was aimed at transforming hobbies into entrepreneurship and skills into business by providing finance, training, mentorship and marketing support for young people to establish and grow their businesses. Mr Speaker, the youth economy has not been established as the youth economy agency, the year, and has opened its doors for business on 3 April 2023. The government has to date injected $4 million to the youth economy for the provision of soft loans and grants to young persons with interest in sports, music, entertainment, designing the creative economy, cultural activities, the digital economy, arts, agriculture, the blue economy and agro processing. Mr Speaker, the agency will operate on the principles of accountability, flexibility and agility to avoid bureaucracy and asset-based collateral which has often frustrated young persons in search of capital for business startups and expansion. The agency will attend to the special needs of rural and urban at risk youth for the integration into the economy and to reduce the high incidence of youth unemployment. Mr Speaker, this new business facilitation agency has generated widespread interest from development agencies and governments both regionally and internationally. Since opening its doors in early April, the agency's website has received 7000 visitors, over 800 followers on social media platforms and over 150 walk-ins visitors to the e-office. Mr Speaker, in that short period, 192 applications for grants and 75 applications for loans have been registered in the agency. From the 192 grant applications, 11 grants have been issued amounting to $55,000, 49 applications have been processed and approved for these boostments, 50 applications have been contacted to arrange reviews, interviews and consultations and new applications. From the 75 loan applications, 40 applications have been reviewed with an average loan request of $30,000. Mr Speaker, the government is confident that the new agency will be true to its mandate and will facilitate numerous business opportunities and bring renewal hope to our young people as they pursue their dreams in the different areas. Mr Speaker, tourism industry has been the main driver of our economic growth and the management performance of the industry account to a large extent for our economic viability. Mr Speaker, our first objective must be to build a sustainable and resilient tourism industry. In this regard, we will, during this year, enact a new tourism development bill which seeks to harmonize the legislative framework for the tourism industry. The bill has now been finalized and harmonizes the legislative framework for the tourism industry by repealing existing tourism incentive legislation, the Tourism Incentive Act, the Tourism Stimulus and Investment Act. This bill is the product of extensive benchmarking both regionally and internationally and several rounds of consultation with key government agencies, the private sector and other stakeholders in the industry and aims at establishing a single but comprehensive legal framework. This strategic policy direction is expected to create an environment that will enable development growth and resiliency and sustainability in the tourism industry. Our second objective is to ensure that the benefits of tourism are true to as many as possible. We must create a framework for the growth of the industry that allows for more solutions to participate and own the industry. The new tourism development bill will provide significant incentives and concessions across all sectors and will no longer be limited. It means now that the sectors most solutions I like it to own will receive the necessary support to flourish. We have reoriented the community tourism concept from a village notion with franchises to one of the community involvement with partnerships with St Lucia and communities. The overall objective of the community tourism is to remove barriers to ensure local economic development through local inclusion and local investment and to develop sustainable community based tourism activities that ensure that socio-cultural authenticity of host communities are respected. Mr Speaker, when we assumed office, the community tourism program had no office or staff, no processes in place and no community consultations. We have decided and am again pleased to announce that we are seeking an amount of U.S. dollars 3 million from the Karakum development fund to support the communities which were not included in the initial pilot communities. Communities in Miko, in Marsha, Serenity Park, the mine of a silker castries, Denry, the Mone Leibai, Bellevue and Perot among others. Our fourth objective is to build a destination that provides not only a spectacular landscape but more meaningful and quality experiences. For that reason, three signature programs were launched in 2022. One, the collection of villas, hotels and bed and breakfast with rooms ranging from 4 to 45 provide unique experiences of food, culture and entertainment. Two, the National Kabawe Crawl, a culture bar hopping experience for locals and visitors. And Lushan Links, a program designed to formally celebrate the diaspora and to further encourage them to enjoy the solution product. Mr Speaker, this year we will continue to introduce new products that will enhance our standing as a destination. I am pleased to announce that the Senlusha Tourism Authority will launch this year the Senlusha visitor loyalty program which is designed to honor regular repeat visitors. This will build greater loyalty to our destination and reward persons who are loyal to us. Mr Speaker, I am personally delighted to announce that the Senlusha Jazz and Arts Festival, formerly Senlusha Jazz Festival will start in a few days on May 5th at the renowned Mindu Philip Park. The festival has become one of the major events on Senlusha's calendar of events and the most anticipated event on the Caribbean calendar and it is now back. We are all eager in anticipation of a star-studded lineup. And over the years, the festival took on a new dimension with addition of more side attractions supporting jazz performances aside from the main stage events. It is exciting that the arts component has been maintained. It is the ideal showcase for our creatives and for our local creatives and their chance to be on the world stage. Mr Speaker, we witness continued growth in the citizenship by investment program. The program recorded a 20% increase in 2021-22 which was a record yes. After a long and exhaustive review of the program, a number of changes were made to make the program more competitive and to yield greater returns. These include adjustments to the real estate, minimum investment and adjustments to other fees including dependent add-on and replacement of certificates. This year, we will see further changes to the program which is expected to deliver greater results. These will include a strengthened footprint in the growing markets such as West Africa, the US and the Middle East. Through the hosting of conferences and other engagements. Mr Speaker, SELUSHA will always observe the accepted due diligence and accountability in its processes to ensure that the good reputation of our island is maintained. Mr Speaker, culture and creativity plays a significant role in establishing our national identity. Defining who we are and our purpose in this global civilization. We have prioritized the implementation of our cultural festivals and increased our allocations to various activities. Our cultural expressions have been energized and there is greater public interest and participation in these activities. Of not Mr Speaker, is the increased allocation given to the SELUSHA tourism authority to allow it to better market and promote our cultural activities. SELUSHA tourism authority has also been provided the resources needed to assist in promoting our creatives internationally and to merge destination marketing with our creatives. This year Mr Speaker will enact new legislation to facilitate the development of creative industries and to enable that sector to take its rightful place in national development. Mr Speaker, the vexing issue of crime, particularly violent crime, is a major challenge that needs to be brought under control. Crime has become such a challenge that it triggered a two-day 78th April regional symposium of the heads of government of the Caribbean community in part of Spain, Trinidad. The declaration following the symposium rightly recognized violent crime as multifaceted in nature and its pervasive effects requiring a robust regional response that includes a public health response, a societal response, including family, church, academia, cultural and sporting personalities, minority political parties and the wider civil society. The call for involvement of minority political parties in this battle against crime is instructive. Mr Speaker, of deep concern is the high rate of illegal exploitation of farms from the United States to the Caribbean. Mr Speaker, crime and violence is becoming normalized in SELUSHA and the region and needs to be reversed. That is why Mr Speaker, anyone who cares about their country should not find any comfort in criminal activity. Unless, of course, they believe there is some gain to be derived or opportunity to score points from it. And if they do, they are no different from those directly involved in criminal activity. Mr Speaker, in my show of commitment to these calls, I wish to inform you, members of this House and the SELUSHA public, that I will lead this battle against crime without fear or favour or partisan thinking until the scourge of criminality is no more. And I invite my colleagues and civil society to join me in this battle to fight this scourge. Mr Speaker, our strategic approach to reversing the rise and any normalization of violent crime will be focused on strengthening law enforcement and also making social interventions. Strengthening law enforcement. Mr Speaker, at the legislative level, we have increased penalties for illegal possessions of firearm and ammunition. We have enacted the suppression of escalated crime police powers act, which gave the police the increased powers of search, arrest and detention. We have enabled police the power to retain suspects for longer periods while investigations are taking place. We have created a serious crime unit with plans for expansion. We have employed an additional two probation officers. We have regularized the status of some police officers and bodily correctional officers. We have had 60 new recruits ensuring they are properly vetted so that only people with the highest caliber can become members of our police force. We have provided training opportunities for police officers in tactical operations, investigations, human rights and gender sensitivity, emotional intelligence, community policing, treatment of vulnerable persons, crime scene management and anti-gang training. Improving the working conditions and welfare of members of the police force. We are working to improve police morale. We will review and upgrade the strategic plan for the police, training of court prosecutors, review promotion policy for police correctional customs and inner revenue staff, employment of new bodily correctional recruits. The improvements in the physical facilities and conditions of work for policemen include construction of division headquarters in Grozili that construction has begun. Repairs to sovereign division headquarters in Vuford contract was signed last week. Repairs to police stations in Canaries, Miku, Rich Four and Marsha. Construction of custody suites, a project plagued by administrative delays. And please Mrs. Speaker to inform you that a contract for the construction will be signed this week. Mrs. Speaker, we will be commissioning the new drug squad building shortly. We location of various units to more conducive working environments, purchase of new vehicles, motorcycles, trucks and bicycles, purchase of special police equipment including drones, extreme machines, bulletproof vests and ammunition, upgrading of the forensic lab and the purchase of a comparison microscope for firearms analysis and repairs to the bodily correctional facility. Mrs. Speaker, last year we began the process of reducing the backlog of cases in the court by introducing the swift justice project which is expected to reduce the processing time for cases to no more than two years. Unfortunately Mrs. Speaker, for many reasons this project has not achieved the desired results. Mrs. Speaker, this year we have allocated two million dollars for the project and already preparing the physical facilities to house the courts. It is envisioned that the project will be fully operational this year. Mrs. Speaker, to ensure that the rights of the accused are protected and justice is served, we have increased the allocation for legal aid and caught appointed attorneys. We will begin the construction of the House of Justice to house the criminal, civil and marriages court to eventually alleviate the congestion and poor working conditions presently experienced in some of our court buildings. Consideration will be given to the enactment of legislation for judge only criminal trials. The completion of the process of the ascension to the Caribbean Court of Justice will make appeal to the highest court more affordable and accessible to all. Establishment of a first district traffic court to handle the significant backlog of notices, warrants and ticket related offences. Establishment of the coroner's court to handle matters relating to death, deemed to be unnatural or in the exercise of law enforcement. The coroner will handle inquests and investigations currently before the court, expanding the witness protection program. We will seek to improve the quality of life for the most vulnerable. Mrs. Speaker, with regard to human resource development for the police, the engagement of the regional security system to assist our local police, increasing the training votes for the police to allow additional training, crime detection, surveillance and other modern crime fighting techniques. Establishment of the sheriff's office to handle assets subject to rates, increasing the broadband width and bodily to allow for the herring of more than one case virtually and repairs to the first and second district courts. Mrs. Speaker, the criminal justice system must not be only about punishment. It must allow room for rehabilitation, particularly for young offenders who find themselves in the child justice system. In this regard, an allocation has been made for the commencement of preliminary works, public consultation and designs for the conversion of the former George Charles secondary school to a rehabilitation center. A crime and violence reduction project will be implemented to engage vulnerable and at risk individuals in education and parenting. Strengthening of community-based organization. Establishing mentorship, training, capacity building and diversion options. Working in the social development fund to establish a crime prevention office to coordinate crime reduction prevention and intervention programs initiated by civil society groups, non-governmental organizations and government agencies. The creation of a targeted gang intervention plan. Mrs. Speaker, the fight against crime must be a national effort with government and civil society groups working together. In this regard, the government will be providing current and future non-state actors and non-governmental agencies involved in crime suppression activities. With financial assistance, the government remains encouraged by the societal response that has been shown for the social health of the nation by these groups. The crime challenge calls for a bold and different approach. In addition to the law enforcement approach, which is very often reactionary, my government will seek to confront some of the social issues that contribute to crime. My government will undertake a series of heavy social interventions in areas particularly both in the world and in the world of crime. My government will undertake a series of heavy social interventions in areas particularly both in the world of crime and will be joined on the resources and cooperation of community groups, civil society groups, councillors, social workers and local businesses. My government will commit to putting the necessary financial resources to support this initiative. The unprecedented search in crime and violence in Vivote has necessitated special intervention by the government in consultation with a parliamentary representative, neighbouring parliamentary representatives and concerned civil society groups. Elements of the special intervention will include 1. Identification of available land for resettlement. 2. Dialogue of the owners of land in the town of Vivote to empower ownership and to assist home ownership. Psychosocial support for residents to deal with trauma will urge to urge social recovery and enhance the economic well-being. My government will work closely with the NGO community. The establishment of information desk by specialised ministries to provide the help and guidance to citizens to access government services. For example, the Ministry of Commerce will establish a presence to assist citizens to access to small business loans. Special economic educational and sports programmes for at-risk groups. Construction of an administrative complex and a cultural centre for the people of Vivote and the south within these two. This will fulfil a promise made to the people of Vivote during the 2021 election campaign. Mr Speaker, the Vivote initiative is being designed to foster a sense of security, support and shared outcomes to foster pride and ownership that can help to build a stronger sense of community. Mr Speaker, social assistance is a crucial component of any society as it provides a safety net for some of the most vulnerable. For the Solution Social Development Fund, my government has provided targeted intervention to help reduce poverty and inequality. Several initiatives have positively impacted the lives of hundreds of individuals through projects such as but not limited to our boys' matter, single mother's micro enterprise project, social stability initiative and the basic needs trust fund. Mr Speaker, during the year, SSDF engaged in the following activities. Christmas stimulus, 3.2 million. Easter stimulus, 3.2 million. Educational assistance, 2 million. Hope, 1 million. Short-term employment, 6 million. Pre-hurricane clean-up, 1.5 million. A total of approximately 17 million. It's expected that these activities will intensify this year. Mr Speaker, social assistance is a crucial component of any society. These programs play a critical role in building stronger, more resilient communities and ensuring that all members of society can live with dignity and respect. Mr Speaker, the issue of health care will remain a dominant topic on the developmental agenda of all countries small and large. St. Lucia has had the constant battle of having to divert more of scarce financial resources to the health of the nation, while its health workers, particularly nurses, continue to seek better opportunities in more developed countries like the UK and the USA. Mr Speaker, our health services continue to be challenged in the aftermath of the COVID-19 pandemic. Notwithstanding the challenges, St. Lucia has experienced gains in key health indicators, higher rates of immunization coverage, improvements in the nutritional status of children, expansion of health and social services, increased life expectancy and improvement to the physical infrastructure. Mr Speaker, the Minister of Health will provide further details about the challenges and gains in the health sector. Mr Speaker, the Ministry of Health has laid out its focal areas for this year. 1. Establishment of a cancer registry. 2. Establishment of an elderly affairs unit. 3. Refurbishment of the live issues health center. 4. Refurbishment of the souffle health center, while advancing plans for the construction of the souffle hospital. 5. Repairs and expansion of the Comfort Bay Home. 6. Expansion of clinical services at the primary health centers. 7. Enactment of the food safety bill. 8. Establishing of a programme for retention of health workers, particularly nurses, and 9. Launching of the Golden 80-plus medical package. Mr Speaker, the government has pledged to pursue a health policy where healthcare is affordable, accessible and equitable. The universal healthcare program is expected to deliver this policy effectively and efficiently. In my budget address last year, I promised that we would commence the process for the implementation of UHC. I can inform this House that this process has commenced and the following has been achieved. 1. A public service and public education program has begun. It is expected that the necessary legislation and extensive communication plan and enabling legislation will be the output of that process. 2. A maternal and child healthcare program will be the full stage of services provided. 3. The launch of the performance-based financing program. 4. The registration of the population into the health information system to the issue of a health card to every citizen. 5. There are significant aspects of the UHC which are already happening and are being implemented and these include free medicines for diabetics and high potential patients. Mr Speaker, the Ministry of Health and the Minilum Heights Medical Complex, then MHMC, will develop the Castries Multipurpose Health Facility to include the Castries Urban Polykinic and the Secondary Care Wing of the Minilum Heights Medical Complex. The CUPC will be an urgent care support unit. We live in pressure on the non-emergency cases at the accident and emergency department of the OKEU. The Secondary Care Wing will accommodate patients free in a bed space at the OKEU. The Minilum Heights Medical Complex will implement a capital program to include the installation of a backup generator, a removal of some of the wards, improvement of the waste treatment plant and improvement of the hot and cold water systems. A loan of $23 million has been guaranteed by the Government of St. Lucia for the capital works and working capital and also a loan and a payment to Cayman City of $11.5 million. The Minilum Heights Medical Complex embarked on several initiatives to enhance the delivery of patient care services during the year 2022-23. They include an oxygen plant, improvements in the main entrance and reception areas of the hospital and provision of a private entrance for admissions, billings and appointments. In 2022-23, the reconstruction of the east and west canopies of the St. Jude Hospital, the improvements in the laboratory areas and improvements in the reception area were completed. Major equipment including ventilators, laboratory equipment and an aesthetic machine were installed at the institution. The Government has increased its invention to St. Jude and finalized discussions with the National Insurance Corporation to increase its contributions to the facility and the workers of St. Jude will be paid their back pay income tax free. Mr. Speaker, my government has placed health high on its agenda with a significant allocation being made to it. We intend to spend in this financial year over $200 million on health care. This excludes the expenditure on the refurbishment of St. Jude Hospital and the outstanding death on the box estimated to be over $50 million. Mr. Speaker, this year, the proud program will continue to advance the process of land racialization in the communities of Oleho, Pominoje, Cantolmen and Bruce Willing Viewfort. This program aims at empowering the occupants of Government Olands in unplanned development by giving them access to fully serviced land lots at affordable prices. In most of these cases, the cadastral surveys are well advanced and we expect to transfer title to the occupants within the coming year. Mr. Speaker, this year, the enactment of legislation to convert proud into a title recuperation in which the land will be invested. Mr. Speaker, St. Lucia's housing stock deficit has been worsening by the rising cost of building materials and available and affordable housing lots. My government in this budget will attempt to address the rising cost of building construction. Later, in my presentation, I will say how. The National Insurance Corporation through Naipro will be undertaking a major social housing program in the Maske area during this financial year. Plans for the program are currently before the Development Control Authority. This should make available over 100 low-cost lots and houses. The National Housing Corporation has also been in discussion with a major developer to provide a similar quantum of low-cost housing. The government in its resettlement and racialization program will assist households occupying Government Olands to secure land title. During this Parliament, Government will pursue an aggressive campaign to reduce the country's housing deficits. The Department of Housing will continue the National Housing Assistance Program with six to provide housing assistance to low-income and indigent groups who require satisfying the basic housing needs. 280 households have benefited from this program. This program is being financed by the Government of Taiwan. The National Sites and Service Program, NSSP, involves the development of state-owned lands and the provision of service residential lots at locations throughout the island. Crown lands at Lafag, PI and Labry have been identified for development. The Minister will give further details. Mr Speaker, MSMEs remain important sectors in the economic landscape of St. Lucia, providing the greatest opportunity for the spread of wealth and the creation of employment. Access to finance remains a perennial challenge for this group. The new challenge is the need for these enterprises to embrace modern technologies to remain nimble, efficient and competitive. In this fiscal year, the Government is making available the sum of $10 million for the SLDB, Sinocial Development Bank, for the medium and small and micro enterprises loan grant fund. These bothments have commenced and yesterday, these bothments commenced yesterday and grants and loan payments will be made in a ratio of 70% grant and 40% loan. As it relates to embracing new technologies, an allocation has been made in this budget as the Government's contribution to the MSME project funded by the OAS and the Government of St. Lucia to allow MSMEs to enter the digital economy. This project is expected to significantly increase MSMEs capacity to market and sell the products and services online. Export St. Lucia continues to provide technical assistance to MSMEs producing goods and services with export market potential. The strengthening of MSMEs will be a strategic choice if the benefits of the cannabis industry is to be widespread. A task force has been established to assist the development of a cannabis framework and a bill should be in Parliament shortly. The Minister will give further details. Constitutional reform. Mr. Speaker, St. Lucia became the fifth country in the region to make the Caribbean Court of Justice its final court of appeal. By replacing its Majesty's Privy Council, many St. Lucians will have the opportunity to access justice at the highest court, a process that was restrictive and expensive to the ordinary man. The ascension to the Caribbean Court of Justice signals our desire to strengthen our participation in Caribbean regional integration and identify as a country that is autonomous and resolute in determining our country's future. This journey is not complete. Our constitution has served us well, but it needs to be further amended to reflect the hopes and aspirations of our people and respond to the need for the acceptance and celebration of our Caribbean identity. We will therefore continue to engage our citizens in conversations on the advancement to undertake constitutional reform in this country. The need to make our constitution truly reflective of the ideas and aspirations of our people will be continued this year. Never again will this house be without a deputy speaker. Letters have been sent to potential members to serve on a committee, to review Parliament's consideration of the recommendations of the Constitutional Reform Commission reports. Mr Speaker, last year we launched the Youth Economy Agency and the Skilled St Lucia Web Browser or SEM58 Skilled App. This year, the Youth Resilience Inclusive and Empowerment focuses on security and violence reduction and prevention among youth in the community. Mr Speaker, football is the most popular sport in Senusha and given its popularity, a properly organized semi-professional football league will create meaningful economic activity and sustainable livelihoods. We intend to commence a semi-professional football league this year to employ young football players. This league will ensure that players whom have the necessary skills and make the necessary sacrifices can be adequately compensated and also have hope of being recruited by international football scouts. The minister will elaborate further on this new initiative. Julian Alfred Julian Alfred has been Senusha's leading athlete for the past five years. In July 2017, she won Senusha's first gold medal at the Colorado Youth Games in the Bahamas by winning the girls on the 1800 meters dash. In 2022, she was crowned the NCAA Division 1 champion and later that year won the silver medal at the Colorado Youth Games Women's 100 meter finals. The country has been witnessing the feats and the breaking of records by Julian Alfred. Therefore, we believe that it is imperative that she graduates from Texas University in June this year. We provide her with the necessary resources to continue her path of high performance. The minister has budgeted finances to ensure that she continues to receive the very best training to perfect the craft and hopefully represent our country at the 2024 Olympics. Mr. Speaker, in recognition of outstanding achievements, the government has provided Miss Alfred with a diplomatic passport to facilitate her travel. The ministry has been undertaking renovations at the Mindu Philip Park, still a major recreational ground for athletes and cricketers. These renovations will continue after the opening of the Jazz Festival on May 5, 2023, after the opening. Several other playing facilities will be refurbished, lighted and renovated this year. It is an unusual development bank. Last year, we indicated that this unusual development bank, the SLDB, would be required to play a more significant role in facilitating development and low-cost funding to small and medium-sized enterprises. Mr. Speaker, I indicated then that to finance its mandate, the bank needed to be recapitalized. The government has kept its promise and already injected $4.6 million into the capital of the bank. A further injection is promised this year. Mr. Speaker, I can announce that this unusual development bank, supported by a government guarantee, has fully disbursed 5 million euros allocated to working capital and COVID-19 support for MSMEs. This unusual development bank, working at the Ministry of Commerce and the Ministry of Finance, is a partner in the establishment of the CDB-funded MSME of $10 million to that sector. Mr. Speaker, the SLDB will continue its modernization expansion of its operations while diversifying its portfolio to solve the housing and developmental needs of the people. Mr. Speaker, as the world grapples with the issues of food security and climate change, the agricultural sector will continue to play a vital role in the economy, providing rural employment, food and nutrition security, and poverty reduction. Agriculture has become more important over the past few years, with escalating food prices arising from supply chain disruptions caused by the COVID-19 pandemic and the ongoing Ukraine war. Mr. Speaker, I am pleased to announce that the agricultural sector has expanded this year. The pandemic has awakened most countries to the need to place greater importance on food security. In that regard, member states of the Caribbean community have agreed to develop a regional full plan to achieve a 25% reduction in the region's food import bill by 2025. This year, we will continue to aim at import reduction by placing focus on the expansion of livestock, fisheries and the targeted 7-crop program. Mr. Speaker, the banana industry continues to provide income security to several farmers in Senusia. This government has provided much technical support to strengthen the industry and has facilitated a loan for the NFTO through the Senusia Development Bank. We will continue to support recovering the banana industry for the establishment of the banana management units mandated to enhance the overall performance of the banana industry by improving productivity and quality and securing market access. Mr. Speaker, COCO has long been identified as an export crop with the value added potential to generate much revenue in the agricultural sector. We will continue to provide the required support to expand COCO production and to maximize the returns in the COCO sector through increased focus on the processing of COCO products in a suitably structured business model environment. Mr. Speaker, cassava and coconuts are two versatile crops with the potential for a variety of value added products which can enhance our food and nutrition security, reduce Senusia's dependence on imported foods and enable healthy lifestyles. During this year, we will provide the necessary support to farmers and agro processors for the provision of planting material for expanding acreages on the coconut and cassava production and equipment for processors to increase the related value added products. Mr. Speaker, to expand the export prospects for the production of local honey, we will focus on strengthening beekeeping organizations to enable the viability and sustainability. We will continue to provide technical and marketing support, capacity building, resource and financial management, farm and product certification, branding and labeling of honey products. Mr. Speaker, over the last three years, there has been a dramatic increase in the number of individuals engaged in the planting of CMOS in our coastal communities. CMOS farming has demonstrated the potential to create employment and contribute significantly to the social and economic well-being of our communities. During this year, we will provide resources to the CMOS industry for the enhancement of post harvest quality control, production efficiency, farming area management, farmer training and capacity building and access to market so the industry can reach its true potential. Mr. Speaker, during this budget cycle, we will establish an island wide aquaponics system in schools and commercially viable system for farmers with disabilities. This will build capacity in soilers full production systems, improve the productivity of vegetable crops and improve water management in our cultural systems. We believe that this local system of production which requires liquor land can enable significant production of some vegetables and fish farming. It is hoped that the use of technology may attract young entrance to the agricultural sector. Mr. Speaker, the fishing industry continues to play a significant role in our strategy for food and nutrition security. In this year's budget, we undertake improvements, repairs and maintenance to the castries, dennery and viewport fishing facilities. These renovations will include fishing storage facilities and facilities to enable improved health and safety standards for the handling of fish and fish products. In this financial year, access to the shozel fishing port will be improved by reducing the current sedimentation which hinders the productivity of fish of hope in the community. Mr. Speaker, this project has already secured funding from the Japanese International Cooperation Agency, JICA. Mr. Speaker, a lot has been said since the signing of the MOU for the proposed port development being negotiated between the Government of St. Louis and Global Port Golems. I can inform this Honourable House that no agreement has been signed by this Government country to the malicious comments and misinformation being made in some areas. Mr. Speaker, I again go to the big book for quotation. Stop telling lies. Let us tell our neighbours the truth for we are all part of the same body. An agreement will be signed once all the terms and conditions have met the Government of St. Louis long-term objectives for port development. I am pleased to announce that we are close to doing so. This investment agreement will transform the castries harbour and the Souffre waterfront. The improvements to port castries will include upgrades to Point Seraphim to allow for the largest cruise ships, a broad walk from San Susi Bridge to the vendors arcade, a rebuilding and expansion of the vendors arcade, the creation of a parking hub to help alleviate the traffic problems around the city and the establishment of a fisherman's village in Bannan. The Souffre waterfront will be completely redeveloped to offer an enhanced experience for yachts, for visitors and for locals. I can assure St. Louisians that there is no agreement to exclude cruise port development in Viewfort. I am pleased to announce that the Government of St. Louis long-term objectives for port development will include cruise ships to the vendors arcade in Viewfort. I am pleased to announce that the Government of St. Louis long-term objectives for port development will include cruise ships to the vendors arcade in Viewfort. Mr. Speaker, for the fiscal year 2023-2024, whilst planning for major road projects such as the shock to Bruce Lee Highway expansion and the field and agricultural roads rehabilitation project phase 2, we will continue upgrading the road network and continue the maintenance of public assets. Mr. Speaker, while we are not satisfied with progress on the Millennium Highway, work will continue on the West Coast Road reconstruction project. A contract via competitive international bidding has been signed for the Ansari Beach and work will commence during this quarter and for the continuation of the West Coast Road. And a consultant has been contracted to develop the infrastructure 2030 plan. Mr. Speaker, the annoying traffic situation and loss of productivity and traffic congestion on the Bruce Lee Highway and related loss of productivity is a direct result of the ill-advanced actions of the last Government. Mr. Speaker, I will say that again. The annoying traffic situation and loss of productivity and traffic congestion on the Bruce Lee Highway and related loss of productivity is a direct result of the ill-advanced actions of the last Government. When on March 24, 2015, they cancelled a loan from the Kuwaiti Fund to reconstruct the road. Mr. Speaker, I said last year we have commenced discussions with the Kuwait Fund and these discussions are at an advanced age. The Ministry of Infrastructure is presently providing the required updates and documentation to move to the approval process. Mr. Speaker, the Government has re-approached the Kuwaiti Fund for the Fidenai Cultural Roads Project approved again in 2015 but cancelled by the previous Government. Mr. Speaker, discussions are progressing smoothly and the responses are favourable and the commencement date is expected later this year. Mr. Speaker, access to justice is critical to the well-being of any modern democratic society. For some time now, the Government has embarked on a process of consultation with the appropriate authorities for the construction of a House of Justice. The judiciary can operate in an environment conducive to the dispensation of justice. I am pleased to report that plans have been finalised for the construction of that facility which is expected to start in the second half of this year. After discussions with the police, the new location has been changed to the site of the decommissioned Haikot building at the corner of Miku and Labmi streets and the building will be joined to the old Ministry of Education building. Mr. Speaker, the project will be built for a build-operate lease and transfer of both arrangements. An allocation of 1.5 million has been included in these days' estimates for pre-construction activities. The new police northern division headquarters. Mr. Speaker, the police also need to operate in an environment that is conducive to high performance. The northern division of the police force has been waiting for such a facility for too long. I am pleased to report that earlier this month, work commenced on the construction of the new grocery police station and northern division headquarters. Under a build-operate lease and transfer of both arrangements with NIPRO for $45 million increased of furniture, fixtures and fittings. New Sufre Hospital. Mr. Speaker, as part of improving the health service infrastructure throughout the country, we will commence pre-construction activity for the Sufre Hospital. This level 4 health facility will allow for overnight observation and short stays for non-critical cases. Mr. Speaker, in addition to serving the residents of Sufre and its environments, this facility will supplement our tourism project. Product given the essential role of Sufre in the tourism sector. We have allocated $2 million in this budget for pre-construction activity for this project. The facility is expected to be constructed through a design finance construction arrangement with the proposed location on Afalus Street in Sufre Town. New police angel headquarters. Mr. Speaker, consistent with the commitment of this government to provide the proper working environment for the police force. A new police headquarters will be constructed to house the key divisions of police operations in the city of Cassius. To this end, an allocation of $300,000 is included in this budget for pre-construction financing for this project. Construction is expected to start in the latter part of this fiscal year. Mr. Speaker, the view for division headquarters has been closed for repairs for few years now. The initial cost of repairs was $300,000 for roof repairs and mould infestation treatment. But it was neglected and now the cost has now escalated to $2.3 million. On April 24, 2023, NIPRO issued a contract to a construction firm to undertake the necessary repairs. Works are expected to be completed in four months. Mr. Speaker, a design finance contract DFC for $4.2 million has been awarded for the conversion of part of the old police headquarters building for this holding facility. St. Jude Hospital reconstruction. Mr. Speaker, in my budget statement last year, I gave an account of what transpired in the process of reconstructing St. Jude Hospital on the site at OJ Viewfort. Unfortunately, for unjustified political reasons, after being delayed for three years, the UWP administration wasted $110 million on a box which left the people with no hospital after over $200 million had been spent since 2010. And I can assure you, Mr. Speaker, you'll be hearing more about that later. Mr. Speaker, I am pleased to report that from 1 November 2022, work commenced on the original buildings to deliver the St. Jude Hospital to the people of the south in the shortest possible time. The project is being managed by the Project Management Unit PMU within the Department of Economic Development in conjunction with the Department of Infrastructure. Additionally, the Cabinet of Ministers has appointed a national hospital reconstruction steering committee to guide and oversee the construction of the St. Jude Hospital transfer facility. The initial constructed works for the cleaning, sanitization and fencing of the hospital are close to completion. Refurbishment works have started on the structures following the granting of approval from the Development Control Authority for some of these structures. Mr. Speaker, a design to a vision engineering firm has been contracted to assist the PMU team in the process of design review and scoping and to arrive at final costings and contractual arrangements for early completion of the hospital. Mr. Speaker, $42.75 million has been allocated in this year's budget to meet outstanding payments for work done on the existing structure, the box. $32.75 million has been allocated for work, for debts on the box. Mr. Speaker, I am pleased to report that since coming into office, this government's policy of transparency and fairness in dealing with investors has been well received by existing and potential investors in our country. Mr. Speaker, we have had to re-engage several investors to re-establish their interest and confidence in St. Lucia for a demonstration of commitment and responsible government. We have witnessed one of the highest levels of investment in recent times and this year's promises to be another significant year for foreign and local investments. I wish to highlight some of our major achievements and planned investments for the ensuring year. Mr. Speaker, we welcome the expansion of I-Tel CX, formerly I-Tel BPO to St. Lucia into a newly renovated factory shell. The construction upgrade of this facility, of this third facility, was completed in February 2022. Investing in I-Tel CX has been working on a fourth building for this tenant, which will allow for further expansion and employment this year. We also witnessed the continued expansion of BPO-KPO sector as came to expanded the operations in Masad and a 1-8-8 Gwansa is currently expanding into 12,000 square feet of new space in the north of the island. A St Lucia owned, a Central International, a new entry in the BPO-KPO space is in the final stages of renovations of the facility in Sufre. It is expected that hundreds of jobs will be created from these new investments. Tourism investments. Mr. Speaker, the construction of the Grand Hyatt in Saabisha in Shosell will continue this fiscal year. The development boasts a 345-room hotel. Dream Resort Spa and Zodgy Wellness and Spa Resorts. Under this initiative, two luxury uninclusive hotels are currently under construction and will be branded Dream Resort Spa and Zodgy Wellness and Spa Resorts. With 250 and 80 rooms respectively. Corted Marriott at Point Seraphim. The construction of a nine-storey business hotel at Point Seraphim will continue during this upcoming year. The facility of 140 rooms is expected to be opened next year. Kazaba Beach Resort. Lucia by BPO-KPO hotel. A 90-unit hotel is expected to be completed during next year. Sandals Halcyon. Work is near completion on the expansion of Sandals Halcyon hotel which expected to come into service this year. Mr. Speaker, I want to pay tribute to Sandals Chin and the lead chairman Mr. Butch Tuat. It's 30 years this week that Sandals will operate in San Lucia. I want to thank Sandals for the continued confidence they have shown in San Lucia. And the fact that expansion is taking place as we speak and work will start on the Sandals hotel in the immediate future. Mr. Speaker, for the period generated December 2022, Cabinet approved 35 projects for tourism incentives, pursuant to the Tourism Incentives Act and the Tourism Stimulus and Investment Act. The total projected investment for the period amounted to $384 million. Mr. Speaker, the accommodation sector continued to attract the highest level of investment amounting to EC $341.6 million, approximately 89% of total investment. When these accommodation projects are completed, 262 new rooms will be added to San Lucia's room store. Iwanora International Airport will development project. Mr. Speaker, after extensive research analysis and consultation with local and foreign consultants and slasper, Cabinet has arrived at a policy decision for the preferred technical design development option for the development project. The development of the passenger terminal building under the Iwanora International Airport will development project. A scaled down version of the existing design to obtain a single structure by removing components including the elevated roadway. It is essentially a terminal building if a reduced modified footprint built on the already constructed foundation with the deferral or elimination of certain program requirements is Cabinet's decision. This option, Mr. Speaker, will address the issue of creating fiscal space by curtailing the construction design to make the project feasible within the available financing and from all the design options explored, this option appears to be the most prudent. Mr. Speaker, it's the fact that the true course of Iwanora redevelopment project will only be determined after competitive bidding process for the construction of the airport is undertaken since the present construction was awarded by direct award and up to this day, up to this day, there is no bill of quantities for the award that was given to build the airport. Mr. Speaker, the chosen option because of the size reduction lent itself to cost reduction. The foundations are substantially completed by the contractor and work has commenced for the construction of the air traffic control tower which is in progress. And Mr. Speaker, you'll be hearing more about the Iwanora Airport redevelopment project at the later dates. Mr. Speaker, let me reassure the public that my government expects the engagement between the contracted parties which has been sought by controversies and disputes in the past and which brought the project to stop. Note, Mr. Speaker, that the project has already experienced cost overruns in excess of $40 million and counting. Let me assure the public that his government's intention to continue the Iwanora International redevelopment project in a fiscally responsible and prudent manner that will not cause undue burden to the taxpayers of St. Misha. Mr. Speaker, I now move to the issue of blue bonds. Blue bonds, debt sustainability and financing has become a significant issue. Development countries are pursuing a path of leveraging the natural assets as a means of funding their developments. Mr. Speaker, as you are aware, we are embarking on the issuance of a blue bond where the proceeds will be used to support projects which are aimed at achieving United Nations sustainable development goal. Number six, clean water and sanitation and sustainable goal number 14, life below water. St. Misha intends to take this opportunity to make its mark on international capital markets and to signal our environmental, social and governance ambitions to the world. I am told our proposed bond issuance will be the world's first sovereign sustainability linked blue bond. It will be the first blue bond to align with the United Nations global compact blue bond guidance. United Nations environment program finance sustainability, blue economy finance principles, international finance corporate guidance for blue finance, international capital market association principles and the United Nations global compact five tipping points for healthy and productive ocean. Mr. Speaker, St. Lucia is receiving strong technical support from the UN global compact and the global green growth institute among others to ensure the success of our issuance. Mr. Speaker, the issuance of a blue bond would ensure the security of our citizens and our marine environment given the immediate threat our nation faces from climate change. We will use these blue bonds to focus on two areas, reducing the volume of untreated water that enters our marine environment and to enhancing the sustainability aspects of the fisheries sector while also encouraging job creation. Fisheries are also a critical industry in St. Lucia. It is important that we move from subsistence for fishing and move up the value chain to deliver benefits both to the environment and to our citizens. A blue bond will enable St. Lucia to achieve these two outcomes. It will place us in a good position to build our reputation in the international capital markets and work with people who are interested in ensuring St. Lucia's success from both a climate and economic perspective. A blue bond is critical to help us achieve the strong policy initiatives we have outlined in our nationally determined contribution, in our national adaptation plan and our national ocean policy. Following the blue bond issuance, it is expected that St. Lucia will then be able to attract much needed capital from the private sector. These investors will not just look at St. Lucia from a returns perspective, but they will look at us for impact-oriented outcomes to protect our environments. The Ministry of Finance is already working closely with the Ministry of Agriculture, the Ministry of Education and the Water and Sewage Authority, WASCO, to ensure that we are all aligned to deliver a blue bond for St. Lucia. Mr Speaker, we are confident that our blue bond issuance will serve as a template for our neighbors and fellow small island big ocean states and as an exemplar standard in climate mitigation and adaptation. Mr Speaker, the exploitation and sustainability of our ocean space as a resource provides an opportunity for growing the economy, but in ways that allow future generations to have similar or even better opportunities to benefit from it. We are therefore mindful of the need to harmonize where possible and regulate the activities of different sectors and agents who are engaged in the use of this resource economically or otherwise. There must be a collaboration between the fishing sector and tourism sector, each being aware of how the excesses are likely to affect the viability of the other's use and enjoyment of that resource. For example, overfishing and its negative impact on the underwater ecosystem undermined the beauty and diversity of sea life and the unique attraction of our seabed. And those who use our surrounding coastline waters for pleasure must also be aware of the damage being done to sea life and the level of our fisherfolk by polluting the water with harmful waste materials. The point being made, Mr Speaker, is that there is a need for an awareness of our interdependence as it relates to the use of our coastal waters and ocean space as a first step in the development of a blue economy. Mr Speaker, the awareness of interdependence in the country is also needed among states sharing the same waters and so my government intends to adopt a collaborative approach with nearby states in the development of the blue economy. Mr Speaker, our island is prone to natural disasters and climate change risks. These weather events can in hours reverse all our gains of growth in our country, Mr Speaker. From 2007, we have undertaken to ensure with the Caribbean Catastrophic Risk Insurance Facility, CCRIF. With the increase in the severity of natural disasters, my government thinks it prudent to increase and extend our level of insurance coverage. Mr Speaker, the World Bank has offered us the possibility to leverage a small portion of our idea resources under a program so as to, Mr Speaker, the World Bank has offered us the possibility to utilize and leverage a small portion of our idea resources. This option makes available US dollars 20 billion to a country at short notice to respond to these disasters. Mr Speaker, these are called Catbonds. Other Caribbean islands have benefited from this insurance coverage and St Lucia will express its interest to the World Bank in issuing a Catbond to assist our recovery if a disaster strikes. Solving well fund. It has been the objective of this government to create a multi-generational plan which would safeguard the future for next generations. To this end, we are in the process of exploring the pathways to set up a solving well fund. The fund one set up will be characterized by a strong and transparent governance structure, accountability and robust risk management practices. Mr Speaker, I will now outline the measures my government intends to maintain the gains we have made and to simulate for the growth of the solution economies. The Blue Economy, U-BEC project. The contingent emergency response component CERC under U-BEC has been triggered with the primary objective of supporting the capacity of countries like St Lucia to rapidly response in the event of further eligible crisis or emergency. Mr Speaker, under the CERC, three key areas of focus have been brought to the fore to obtain strides in food security. These focus areas include fisheries, livestock and crop production and will aim to achieve the following objectives in fisheries. Increased production, safety at sea and enhanced food safety, sanitation and hygiene. Lifestyle, enhanced livestock production, crop production, improved agricultural infrastructure, irrigation, drainage, community culture reservoirs protected by culture technology, land preparation services, increased availability of planting materials and farm supplies to enhance productivity and training and capacity building for farmers. Mr Speaker, these activities in total will cost approximately $10 million over the life of the project. Under the U-BEC project, government is hopeful that this investment will positively impact many participants in these three sectors. Mr Speaker, I will now outline the measures my government intends to undertake to maintain the gains we have made and to stimulate further growth of the solution economy. Starting from July 4, 2023, we shall impose a health and security levy of 2.5% on goods and services except on food items, medicines, selected building materials, medical equipment and security equipment. The levy will be implemented to have a minimal inflationary impact and avoid any additional administrative burden and costs to businesses. Mr Speaker, let me be very clear, this levy will not be imposed on any food items. Let me be clear, this levy will not be imposed on any food items. Let me be clear, this levy will not be imposed on any food items. This levy will not be imposed on any food items. This means, Mr Speaker, that the cost of food should not change because of the levy unless prices increase from overseas. I am urging the private sector to work with the government to ensure that this measure is not used as a basis for increasing the price of food. We expect, Mr Speaker, that as freight charges come down, food prices and other imported items prices will also decrease. Mr Speaker, to stimulate activity in the housing and constructing sector, I propose to remove that of 12.5% on the following building materials for a period of 2 years. This means, Mr Speaker, that the retail price of these items should be reduced by 12.5% unless the imported price of these changes increase. To ensure compliance, government will engage in a price monitoring exercise. The exercise tax on tobacco products will be increased effective May 4, 2023 by 50%. This new health and security levy is also intended to allow every citizen to contribute to the pressing needs of the health and security of our nation. We anticipate that this levy will raise $33 million per annum to support the much needed requirements for these two important sectors. Last year, we initiated a tax amnesty programme offering taxpayers to settle tax arrears free from penalties, fines, interests if these taxes were paid by May 4, 2023. Mr Speaker, I am pleased to report that many taxpayers accepted the government's offer to settle their tax arrears. However, Mr Speaker, we understand that some businesses are still recovering from the Covid pandemic and will need to reinvent and retool. I am therefore proposing the extension of the tax amnesty programme under the same conditions for businesses and individuals for another year ending May 4, 2024. Last year, we committed to setting tax arrears. A total of 3,703 taxpayers will pay a total of $8.9 million in refunds. From these payments, 2,146 taxpayers received refunds of less than $2,000 and 1,557 taxpayers received over $2,000. This year, we intend to accelerate the payment of refunds to taxpayers by proposing the following. Allow employers to reduce PAYE deductions for the settlement of tax refunds due to employees by the government. This means, Mr Speaker, that the businesses will engage or the government or the government will engage the businesses so as to reduce deductions of PAYE from the employees. Once there is an agreement, so that they will pay less PAYE every month. We will allow taxpayers the right to offset tax arrears against amounts due to them from government. Mr Speaker, this is a measure that we have to look into in that the government will try to speak to the private sector to offset what is due to the private sector to offset it against taxes owed to the government. Other tax relief measures. Mr Speaker, 3,169 taxpayers, businesses, mostly businesses, owed $600 million in taxes, fines and penalties. It must be noted, Mr Speaker, that these taxes in the majority of cases have been collected on behalf of employees and the government or the government of Senusia. In this case, in the case of VAT, a total of $175 million is owed in VAT. And related penalties and interest due on VAT deductions. Mr Speaker, you will agree that this amount is unacceptably high and hinders the government's ability to meet its commitments. Consideration will be given to strengthen the government's ability to collect these taxes. As it relates to the following taxes, hotel accommodation tax, PAYE, hotel accommodation tax on inclusive withholding taxes, value added tax. I propose that all penalties, interest and fines will be waived if taxes are paid by the 1st of May 2024. Mr Speaker, we hope that these businesses that are in a raise will use this opportunity to settle all taxes to the government by May 4th 2024. Considering the fact that the businesses are keeping these taxes for the government, they have been deducted from the other sources. Withholding taxes, contracts below $10,000. Mr Speaker, effective July 1st 2023, there will be no withholding tax on payments on contracts of $10,000 and below. This exemption will apply to musicians. This exemption will also apply to musicians and other artists in the creative industries. Mr Speaker, the Ministry of Creative Industries in the process of preparing a comprehensive bill for the practice of the creative industries in Ternusia that will include issues related to taxes. Mr Speaker, in helping its debt management, the government will set aside some of the proceeds from the zero interest COVID bonds issued under the CIP program to settle high coupon interest bonds ranging from 5% to 7.5% when they become due in 6 to 10 years. The strategy will reduce the cost of servicing the government bonds. We knew about energy concessions. Mr Speaker, the threat of climate change is real. And while we are not in any way contributors, material contributors to that threat, we do have a moral responsibility to play our part by reducing our carbon footprint. Commencing June 2023, I intend to place selected PV components in the zero rated category for value added tax. The cost and installation of a PV system will be allowed as an income tax deductible expense claimable over a maximum two year period. Other relief. Mr Speaker, our economic policies go beyond revenue generation and are also intended to assist those who justly and deservedly require assistance. Mr Speaker, effective July 4th 2023, I propose the following, a rebate of $1 per gallon on fuel for all registered fishers. The modality will be finalized after discussions among representatives of the ministers of finance, agriculture and the fishing cooperatives. Two, a one-off payment of $600 for government pensioners, payable in November 2023. Three, a $600 increase in the one-time allowance to teachers bringing the amount to $1,100 to be paid in August 2023 to assist in the purchasing of teaching materials. Number four, an extension of duty rebate on vehicles which are available to frontline workers during COVID-19 to customs and correctional officers. I propose Mr Speaker, a one-year window for the local purchase or import of these vehicles which will end in July 2024. Mr Speaker, I now move to budget financing. Mr Speaker, recurrent expenditure of $1.264 billion, capital expenditure $302 million, principal repayment $112 million, total expenditure $1.856 billion. Less recurrent revenue, $1.413 billion, capital revenue $8 million, grant $147 million, total revenue $1.568 billion, net financing $288 million. Represented by bonds and Treasury bills, $32 million and loans, $256 million. Please note Mr Speaker that any additional borrowing is the reassurance of maturing securities and will not increase the debt stock. It's unfortunate Mr Speaker that in a budget in which my government has been able to achieve such a strong economic figure. Equally in a growth rate of 18% and a surplus on the major economic indicators, increased employment, strengthening social services. I had to spend so much time and allocate so many resources to the issue of citizen security. This is one of the saddest contradictions facing us as a government as we repair this budget. This budget has been presented with a mixture of pride and satisfaction at our economic management but is laced with sadness and disappointment that our efforts have been diverted and our results have been mired by the rise in gun violence and organized criminal disruptions in our otherwise peaceful community. Imagine Mr Speaker, how much stronger would be our economic performance had the international, regional and local news had not been carrying stories of senseless murders and gun-related violence in our communities. Imagine Mr Speaker, how much more we could allocate to our universities scholarship program and the youth economy if so much of our financial resources were not drawn towards strengthening our police services, our courts and our prison services. Sadly Mr Speaker, there is a small remnant of desperate political opportunities who have been trying to seize the situation in view for in the misguided belief that the infractions of some misguided youth in our communities will open a door to their hopes to achieving political office. They are dancing on the notion that the mark to return to economic growth which we announced in this budget will be drawn by the tongue in cheek celebrations of every news of crime in this country. In the early days, in the early days after the election, they were banking on the fact that my leadership would fail. Then they went silent when they sensed the resolve of the people to stand with their government and the tremendous level of goodwill of the population for the government of the Senusia Labour Party. Thankfully Mr Speaker, they are in the minority. They simply cannot accept that the vast majority of the population simply wants to work with the government to continue the country's recovery from the devastation it suffered between 2016 and 2021. Mr Speaker, this government has shown that despite the voices of the next years, we are a government that has kept its promises. We have shown that promises which we made in the last budget most of them have been fulfilled. We have shown that the management of the economy and the management of the country is in safe hands. In this budget presentation, we have shown that we have been able to manage this economy. We have navigated the country out of COVID and around the new global economic threats which have emerged since COVID. We have restored growth in our economy. We have reduced unemployment. We have provided tax relief and other benefits to workers and consumers. We have fulfilled our commitments to school children. We have returned the laptops to them, allowing them a better chance to participate in the new global economy. We have restored hope and purpose to the young people of this country. We are thankful Mr Speaker and confident that the vast majority of right thinking solutions will not allow themselves to be destroyed. We have been attracted by the agendas and noise of a self-interested minority. We are thankful for their goodwill and support. I invite all of us to continue to work with us and join us in our broad national transformational government. I want to thank the staff of the Ministry of Finance and all the other ministries, the Ministry of Economic Development that have worked with us in the preparation of this budget. I want to thank my cabinet colleagues for their support and the commitment and work they have shown to the development of SEMUSHA. I want to thank the staff of the parliament, the speaker, the deputy speaker and the members of the security forces for their work with us during this session. Mr Speaker, we invite all solutions to work with us as we pursue the policy objectives and programs outlined in this budget. I commend it to the people of SEMUSHA and I commend it to the Honourable House. I thank you.