The Ministry of Finance is the central ministry of the Nevis Island Administration (NIA) responsible for securing a vibrant, diversified and resilient economy conducive to the betterment of the people of Nevis. As Permanent Secretary in this ministry, I am honored to be responsible for leading over 200 employees from various departments including Treasury, Customs, Inland Revenue, Statistics, Financial Services and Trade. Collectively, the ministry ensures the timely processing and payment of government cheques, the effective and fair collection of government revenue, the proficient regulation of the non-bank financial services sector and the facilitation of trade and development. Our goal is to maintain the status of the Federation of St. Kitts and Nevis as a progressive and high income country by implementing policies that induce investment and employment.
Mission: To take the leadership role in promoting and maintaining financial and economic stability through more effective management of debt and fiscal accounts, prudent management of limited resources and the development and implementation of sustainable programmes aimed at improving the quality of life for all Nevisians.
Vision: To provide strategic leadership across the public service on the financial and economic implications of policy decisions. In support of our vision we strive to enhance universal confidence in the economy of Nevis by cultivating a macro-economic environment that is firmly affixed upon the principles of sustainability, competitiveness and inclusive growth.
Values: At the Ministry of Finance we are committed to the following values:
- Strict adherence to the laws and regulations of the Federation of St. Kitts and Nevis.
- Fair and ethical review of all matters related to financial and economic transactions.
- Uphold the integrity of the office at all times, by maintaining transparency and the accountability of its officers to the citizens of Nevis.
Functions: Foster Economic Development, Diversification, Resilience and Stability
- Support starts ups through the processing and approval of new business license applications.
- Support the development and acceleration of small and medium sized businesses through training, marketing and tax relief.
- Support sectoral development such as:
- The tourism sector by providing tax concessions during the construction phase on building material, machinery, fixture, furniture and heavy equipment and during the operational phase on food and beverage.
- The agriculture sector by providing tax concessions on agricultural items including vehicles for transporting agricultural products, fishing gear and farm equipment.
- The manufacturing sector by providing tax concessions on startup equipment and machinery.
- The housing sector by providing tax concessions for first time home owners.
Provide sound policy advice to support macroeconomic stability
- Undertake debt sustainability analysis to monitor the evolution of the debt and its manageability over time.
- Produce annual debt bulleting.
- Undertake quarterly reports on fiscal and economic performance.
Promote efficiency and economy in the use of Public Resources
- Prepare and table in Parliament the Nevis Island Administration annual budget.
- Provide guideline to ministries and departments on the proper use and management of government resources.
- Monitor the execution of the budget to ensure the effective implementation of the plans and priorities approved by Parliament through quarterly Permanent Secretaries meetings and reports.
Provide updates to Cabinet on the financial status of the Administration and make recommendations for improvement.