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Volume No. 2 Issue No. 12 - Monday September 10, 2007
Million dollar assets, $5 000 salary
 Reprinted from the Times Newspaper
Prime minister Skeritt
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A special investigation by The Times newspaper reveals that there are a lot of questions about properties acquired by PM Roosevelt Skerrit over the last few years. There have been several eyebrows raised over what many perceive to be the sudden acquisition of wealth by Skerrit. However, he has always denied that there is any impropriety in his dealings since becoming Prime Minister in 2004.
In a surprise attack on the new leadership of the Dominica Freedom Party, Prime Minister Roosevelt Skerrit confirmed this week that he is building a three-bedroom dwelling house in Vielle Case at a cost of $400,000.00 dollars.
The disclosure came as he tried to dispel additional rumors that he claims would be coming from the new DFP leadership regarding its desire to have him disclose the source of his alleged wealth.
In a preemptive response to his predicted accusations of corruption, PM Skerrit highlighted overseas bank accounts and real estate property, which he claims he does not own. Citing some of the new DFP leaders as �Rebels,� Skerrit accused them of planning to engage in diversionary tactics that would seek to slander him and members of his Cabinet.
But while Skerrit remains adamant that he has nothing to hide, our investigations point to several issues that need clarification from the Prime Minister, particularly with respect to his acquisition of two parcels of land amounting to just over five acres and valued at more than one million dollars within a four-week period in 2005.
Our investigations reveal that on August 8th, 2005, Prime Minister Skerrit purchased a 2.06-acre portion of the Hartington Estate in Trafalgar. On September 1st, 2005, he purchased an additional 2.989 acres � part of the Wallhouse Estate. Indications are Skerrit paid cash in the Trafalgar transaction and secured bank financing for not more than 33% percent of the 2005 market price of the Wallhouse land.
Professionals in the field of land valuation indicate that at the time of purchase, fair market value for the Hartington Estate property was approximately $448,000.00 while the value estimate for the Wallhouse Property was $650,000.00. It however appears from the registration documents that the land was purchased for about $1.00 a square foot in the case of the Wall house property and $1.01 per square foot for the Trafalgar acquisition.
Since land in both areas have been sold at significantly higher rates, these suggested purchase prices raise questions about the land values used for the purpose of calculating taxes paid to the government for registration and the transfers of title to Skerrit.
Observers are noting that both acquisitions surfaced in the wake of the 2005 general election - an event characterized by the Dominica Labour Party�s lavish multi-million dollar spending at a time when it was burdening citizens with the most painful economic adjustment programme in the history of this country.
It is now widely expected that Mr. Skerrit will explain how he has been able to secure these and other personal assets conservatively valued at well over one million dollars on his legal income as a Minister of Government since February 2000.
When he bought the lands at Trafalgar and Wallhouse, and assuming he saves all of the money he receives in salary and allowances from the Treasury, Mr. Skerrit would have had at his disposal $235,000.00 for 47 months as a Minister of Government and $90,000.00 for 17 months as Prime Minister - a total of $325,000.00.
And so, according to one regular Talk Show contributor, �The question in terms of good governance is how did he do it? What are Mr. Skerrit�s other sources of legal income? Are there undisclosed family inheritances? Are there investments on Wall Street? And, perhaps most importantly, does the public have a right to know?�
One parliamentarian who spoke on the condition of anonymity believes, �This presents a case study of why the acquisition of personal wealth by a Minister of Government has attracted clear conduct and procedure standards with specific penalty provisions in the Integrity in Public Office Act.�
He told The Times: �It is going to be really interesting to see how this one plays out, especially given the Skerrit Administration�s failure to give effect to the Integrity Act of 2002 and this week�s call by the Prime Minister for discussions with the other political parties which can only be seen as a blatant delaying tactic.�
The annual declaration of assets provided for in the act allows ministers and other public officers to indicate the assets they own and the sources of funding for these assets so that the relevant authorities can satisfy themselves that there is no accumulation of wealth by public officers that cannot be explained by their legal incomes. The Act also provides for seizure of any asset held by a public official in the absence of a legal source of acquisition.
Notwithstanding the failure to implement that Act, PM Skerrit is now calling on all political parties to assist him in passing legislation that would require candidates to declare their assets prior to being elected.
One former parliamentarian says this is simply an effort by Skerrit to �pretend to be doing something about integrity in public office, while he remains unwilling to do what he already has the legal authority and the permission of parliament to do�.
He further states that if Skerrit was really serious about integrity in public office, he would �disclose the assets that he entered politics with in 2000 and provide a clear and distinct explanation of the wealth he has since acquired and stop taking the people of
Dominica for fools�.
With the help of a banking institution, The Times attempted to determine the repayment terms in the event the properties were acquired through loan financing. We were advised that even at the most conservative repayment rate, the monthly installment would be well in excess of Skerrit�s monthly take home pay throughout his tenure in politics.
It is clear that many questions still await answers that can only be provided in a full disclosure of, or public inquiry into, the financial affairs of the PM since taking ministerial office in keeping with his stated desire for integrity in public office.
Read related articles
Prime Minister responds to allegations
Attorney weighs in on land transfer
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