PwC releases its report, Linton's calculation seems preposterous

Days after the budget of Commonwealth of Dominica was presented in the parliament by the Prime Minister Dr Roosevelt Skerrit, the leader of opposition Lennox Linton came up with his calculations of CBI money asking the PM where the 1.2 billion dollars went. However, Linton’s calculation seems preposterous given the information contained in PwC’s expert report.

PwC’s master report states that a total of 2,059 applications were approved in 2018. This includes both applications made under the fund option and the real estate option of the Programme.

Concerning PwC’s report, SKN News reported that the minimum contribution for a single applicant is US$100,000. However, the cost is reduced for families – for example, a family of four would need to contribute a total of US$200,000 (not US$400,000). Additionally, the Government provides agents with a commission on each of its fund applications, amounting to 10 percent of the contribution paid.

News reported by SKN states that under the real estate option, applicants must invest at least US$200,000 in pre-approved real estate. This investment goes to the real estate developer to build the real estate, not the Government. Also, a ‘Government Fee’ must be paid, commencing with US$25,000 for a single applicant, and increasing with the number of applicants. However, the fee does not increase proportionally. A family of four need only pay US$35,000 (not US$100,000), and a family of six need only pay US$50,000 (not US$150,000).

Not long ago, Linton demonstrated his disappointment that the Financial Secretary should demand appropriate methodology before consenting to his solicitation for a breakdown of the utilization of CBI assets in Dominica. Given Linton's number juggling, be that as it may, Dominica ought to be happy that the data was given to PwC – a non-political substance with no motivator to distort information – and not politically-roused, inadequate lawmakers.