 Thank you, Mr. Speaker. Mr. Speaker, this morning my statement is on our cannabis regime to be implemented in St. Lucia. And today I rise to provide an update on the cannabis regime to be implemented in St. Lucia. Mr. Speaker, the path to developing a long-awaited legislative regime and rolling out an industry surrounding it has not been easy. What many may perceive as a rather simple undertaking has been arduous and as a responsible government necessitated that we be cautious and meticulous with every step. Mr. Speaker, I have often said that the only way to eat an elephant is to have one bite at a time. I wish to assure you and the general public that our caution should not be viewed as inaction. Behind the scene, Mr. Speaker, we have been working feverishly as eating away at the issues and complexities that this elephant of a task has presented us. Our appetite and our intent has not wavered. Nonetheless, as we continue to achieve milestones along the process and approach the finish line, we remain wary of critical missteps which we note that other jurisdictions have fallen free too. Mr. Speaker, I wish to take this opportunity to thank the members who have served on the Cannabis Commission, the Cannabis Task Force, and the current steering committee who have with each passing of the baton played the role in their own way to progress the regime and the development. Mr. Speaker, in the coming weeks, we intend to introduce to this honorable House a bill called Regulated Substance Authority Bill. This bill will, upon its enactment, create a statutory body charged with the regulation and oversight of a number of regulated substances which will include cannabis and cannabis products. The enactment of that legislation will spell another pivotal achievement in the process of cannabis reform as it will allow for that entity to receive the baton from the hard-working members of the steering committee who have facilitated the review of the Regulated Substance Authority Bill and the Cannabis Bill, which we also intend to introduce shortly after the mobilization of the regulated substance authority. Mr. Speaker, to ensure that momentum has not been lost while we seek to establish this authority as an inclusive government, we have sought to ensure that stakeholders have been afforded an opportunity to review the cannabis bill. Over the last few months, we have engaged a myriad of stakeholders from the following sectors, agriculture, tourism and entertainment, health, banking and finance, and the judicial sector, to name a few. It was necessary to obtain the multi-sectoral perspective to refine the initial draft bill. Thereafter, further engagement with stakeholders is planned along the process and we wish to assure the general public that there will be ample opportunity to dissect the various legislative portions of this regime ahead of its ruling out and we will be better equipped to answer the questions and quail all fears. So I want to tell the public to look out for the public service announcements and discussions on the various talk shows and forums. Mr. Speaker, appreciating the need for a robust regulatory framework to support the proposed legislation, we have proactively commenced the preparation of regulations for the regime. With the assistance of the Canadian Caricom Expert Deployment Mechanism out of Canada, we have obtained the services of consultants to assist in the development of the framework for the regulations. We eagerly await the submission which we expect in the coming weeks. Mr. Speaker, noting as well the need to achieve a unified thinking regarding cannabis and appreciating that many other Caricom nations have taken steps to revise the position regarding cannabis. I am pleased to inform that this government is currently planning to host a regional cannabis symposium to ensure that matters of concern come into our attention during stakeholder engagements adequately ventilated at the original level. Mr. Speaker, this SLP government led by our Honourable Prime Minister, Honourable Philip J.P.A., has been clear in its intent to revise draconian criminal restrictions surrounding cannabis and has developed robust, modern, inclusive, wholesome and bespoke industry surrounding the hub. Mr. Speaker, I wish to reference page 16 of the SLP manifesto wherein we promise the following with respect to cannabis. And I quote, in dialogue and consultation with health officials, education officials and advocates for marijuana legislation, we shall develop a medicinal and recreational cannabis industry. End of quote. Mr. Speaker, I wish to confirm that it has been a consultative process and we are well on our way to develop a medicinal and industrial cannabis industry as promised. I wish to encourage stakeholders to embrace opportunities for dialogue when we reach out to them. Mr. Speaker, we further promise and again I'm quoting from the manifesto, we shall undertake to do the following. Provide the necessary resources to create and maintain a sustainable and vibrant market for cannabis regionally and internationally. Mr. Speaker, within DCS budget and allocation of $500,000 was made for the establishment of the control substance regulatory authority. Again, Mr. Speaker, within the manifesto and I read again, we shall expand the records of crimes relating to possession of small quantities of cannabis as well as we shall decriminalize the use of marijuana to be followed by its eventual legislation. As indicated earlier, Mr. Speaker, this process is well advanced and the passage of the regulatory substance authority bill and the cannabis bill will give rise to the eventual legislation. Mr. Speaker, many may have noted the recent formation of the herbal cooperative, the THC. I have been informed that this cooperative, as the name suggests, will be involved in the production and processing of all medicinal herb. It will act as a central purchasing agency for all of its members produced. It will provide members with all inputs and technical assistance. It will be involved in community development and national education regarding sustainable agriculture. As well, it will create pathways for social upward mobility for its members, most of whom for decades have been associated with cannabis. So, Mr. Speaker, the THC is indicative of the interest that our people have in benefiting from the cannabis industry. I take this opportunity to applaud the members of the THC for being proactive and seeking to organize and put structures in place in preparation for the industry which will no doubt require time and resources. Mr. Speaker, while we encourage these and similar initiatives, we urge persons not to overstep the bonds of the current law and temper the eagerness in cases where the actions will fall a foul of current laws. Mr. Speaker, the work is far from complete, but our energy, determination and passion to till what we perceive as fertile soil will not fail and will yield much fruit in due season. Mr. Speaker, we know that the people deserve better than the status quo and remain resolute in our promise to develop a vibrant cannabis industry in St. Lucien. I thank you. Mr. Speaker, with your permission, I will make a statement on the zero rating of facts. Mr. Speaker, in early July this year, my government presented to this honorable house and the entire nation a motion for the zero rating of value added tax on various items, including sanitary napkins and similar articles and two select billing material, namely lumber, cement, galvanized, steel and plywood. The back reduction, Mr. Speaker, from 12.5 percent to zero percent took effect from the second of August this year for a period of two years. Mr. Speaker, I must point out that it has always been the ethos of my government to seek to alleviate the burden brought over by the ever increasing cost of living on our populace, even as we are faced with countless repeated external shocks. Our policies have been and will continue to be strategic, targeted and guided by our mantra of putting people first. For us as a government, Mr. Speaker, this is not merely a catchphrase. It is truly it is truly our overarching mission. We also firmly believe that public policy must be rooted in scientific data and at the Ministry of Commerce we are intent on achieving this much. Mr. Speaker, the Ministry of Commerce was charged with the responsibility to monitor the administration and effectiveness of these measures to provide guidance to business community, to facilitate compliance and ensure consumers rip the benefit of the VAT reduction. I wish to present a timely report to the Parliament of Sanctucia based on our findings since the introduction of the zero rated VAT. Mr. Speaker, we fully anticipated that the 12.5 percent reduction aimed at improving consumer spending power would have almost immediately been reflected in the reduced cost of these supplies. Once all other factors remained constant including the cost of importing these goods and related inputs. I also made it clear in subsequent interviews with the local media that the government would set about the implementation and enforcement of this new measure collaboratively. The olive branch have been extended. I emphasize that we were not setting any stage for war with the business community despite our many options for dealing with persistent non-compliance. The reality, Mr. Speaker, this did not go as smoothly as planned. Initially we noted some resistance and non-compliance on the part of several VAT related businesses to the newly installed tax measure. Upon further enquiry we discovered that much of the non-compliance stemmed from the misconception that the 12.5 percent reduction would only be applied to new stock. Indeed the most frequently asked question with respect to old stock was whether the goods purchased for resale prior to August the second 2023 would be subject to the reduction. To illustrate, Mr. Speaker, businesses that are VAT related are eligible to claim the VAT paid at the ports when filing the VAT return for the respective year for the respective month. For sanitary napkins imported in June the 12.5 percent VAT paid to customs would have been claimed as input VAT by the registered business when the return is filed for the following month and that is July. That stock should be sold if a zero VAT from August second and it didn't impact the VAT registered businesses. The only impact is the 12.5 percent reduction in government revenue. For the small VAT unregistered businesses Mr. Speaker the difference or impact of the VAT reduction may be seen when they purchase new stock from August the second as the VAT will be reduced to zero by the whole seller and the suggested retail price will be lower. I want to state categorically that once the government of St. Lucia has implemented a revised tax measure it is to be applied immediately. Let me reiterate with immediate effect on all relevant goods or services there ought to be no delays. In other words business owners claim not to have known about this tax revision notwithstanding that the inland revenue department conformed that all VAT registered businesses were contacted several weeks in advance of this implementation. Mr. Speaker to ensure a multi-prong approach a VAT relief monitoring committee was established it is chaired by the director of consumer affairs and comprises representatives from the various relevant arms and agencies of government including the ministry of commerce the department of finance the inland revenue department customs and excise the 60s department and the government information service to tackle pertinent issues relating to the dissemination of public information we are fully committed to maintaining this multi-prong approach to ensure compliance with the new policy measure and to mitigate against any possible speculation and misinformation since its establishment the committee has sought to produce a steady stream of new news releases and interviews as well as public service announcements in support of this measure more will follow in the coming weeks in addition Mr. Speaker the department of finance has deployed additional resources to enhance the monitoring of the prices of these goods compliance and observations as it relates to sanitary napkins in order to assess the effectiveness of this policy measure within the last few weeks the ministry of commerce through the consumer affairs department commenced a project to obtain baseline prices of the aforementioned VAT related products and has been monitoring the importation and retail prices to be clear the baseline price and the review are the prices that were in place prior to august the second through commercial cooperation we have been able to obtain this data and have noted with some disappointment non-compliance in certain instances from our database which contained most of the VAT related businesses engaged in the supply of sanitary products 80 submitted baseline data for analysis out of that only 25 percent are in compliance meaning they have implemented the measure and reduced the prices to reflect the VAT reduction and whereas there has been reduction in some measure in most cases the full 12.5 percent reduction has not been realized Mr. Speaker for retailers that are not VAT registered as indicated earlier the reduction should be seen when they purchase new stock from august the second as the VAT will be reduced to zero by the wholesaler and the suggested retail price will be lower again it is worth noting that even among the compliant businesses the full 12.5 percent reduction has not been passed on to the consumer based on data extrapolated from the analysis conducted by our department markups on sanitary products range from a whopping 90 percent to 155 percent Mr. Speaker in light of this Mr. Speaker i should point out that my government is considering adding these essential items to the list of price control goods the ministry of commerce on august the 28th had some candid discussions with the private sector particularly the chamber of commerce industry and agriculture while those present acknowledge that this product the sanitary products were basic necessities they felt a distinction needed to be made between teen specific products and those of general wider usage the recommendation was made to the chamber to seek ways to lower prices by examining what is offered to students and women facing vulnerability then submitting a proposal for consideration during this meeting Mr. Speaker we agreed two things that the chamber of commerce would put a mechanism in place so that discussion could be held on the wider pricing mechanism that impacts consumers generally and secondly that the chamber of commerce would present a proposal on sanitary products within two weeks and yesterday was two weeks Mr. Speaker so we still expecting that while i acknowledge the chamber's concern with respect to proposed price control mechanism i want to take the opportunity to echo the sentiments of senator Lisa Jawa here when she quoted that period poverty is real end of quote this government however remains open to dialogue and is grateful for the level of professionalism and cooperation exhibited so far thus far in the area of building materials Mr. Speaker regarding the expected reduction on selected material the reality is slightly is less big there has been greater compliance more so because the process is not entirely new to some of those businesses Mr. Speaker the ministry of commerce through the consumer affairs department in keeping with its mandate to promote and protect the rights of all consumers in centrucia will continue to monitor the trend to advise government on any changes to implementation of the policy measures to ensure the benefits are passed on to the consumer in closing Mr. Speaker i want to encourage consumers to remain vigilant and to monitor prices and contact the consumer affairs department at 468-4293 or 468-4226 or visit our complaints and investigation officers on our miku street office i repeat the numbers 468-4293 and 468-4226 i also want to thank the business owners who have made every effort to comply and who are committed to cooperating with this government during this stage of implementation of this very critical tax measure we take this opportunity to thank the importers distributors and retailers of these supplies for their cooperation to date and forward to their continued support the ministry of commerce remains committed to providing guidance to the business community to facilitate further compliance and to ensure that our consumers receive relevant and timely timely information to make informed purchasing decisions i thank you Mr. Speaker