Ministry of Finance Virtual Media Conference On COVID-19 Relief Measures - Monday May 10th 2021

The Minister of Finance, Colm Imbert, stated that almost $5 billion in relief was provided last year to citizens as a result of the pandemic, but Government is not able to provide this kind of relief this year. However, Income Support Grants in the sum of $1,500 will be distributed to persons who temporarily lost their jobs at the beginning of the month, and Salary Relief Grants in the sum of $1,000 will be given to those who lost their jobs over the last few days as a result of the recently-introduced restrictions. The Ministry anticipates that almost 20,000 people will be eligible for this type of assistance. The budgeted amount is between $25 million and $30 million.

Minister Imbert confirmed that the Ministry of Agriculture has committed to providing 25,000 food baskets filled with local vegetables and two chickens. These food baskets will be distributed to needy families in all 41 constituencies. The Food Basket initiative will be funded for the next three months and up to September if required.

Food cards will also be distributed to some citizens since it was noted that they do not have valid bank accounts.

There were instances of double-dipping during last year's distribution of Grants. The Ministry is therefore taking its time to ensure a full-proof system is in place this time around, by implementing a fully-online application system for the Grants. The system is expected to become operational by Friday at the earliest, or next Monday for the latest.

The Ministry of Finance will be working with banks and credit unions to make loans more accessible to Small and Medium Enterprises. The Ministry will also be working with NEDCO to encourage micro-entrepreneurs to access special Grants.

The Finance Minister confirmed that Government intends to order 1.5 million COVID-19 vaccines from various suppliers. He noted that there is no cost yet, since each supplier would sell at a different cost. He assured that, “Whatever money is required for the Ministry of Health, we will find it.”

Minister Imbert stated that taxes cannot be relaxed at this time. He said it is unreasonable for people to ask for tax relief and COVID-19 relief at the same time.

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