Marigot:-- Elected officials within the New Collectivity of St. Martin would have to see how they would replace the monies they lost this year from the Octroi de Mer. Already these officials knew there was a possibility that St. Martin would no longer receive the funding which is derived from tax revenues. In the past the State of France were the ones collecting the tax revenues from St. Martin while the island was governed as a commune but since the island received it's status change based on article 74 where St. Martin would be collecting all taxes they have lost the rights to the funds which amounts to some 12 million Euros. This amount represents some 15 percent of the local budget.
While there was ongoing negotiations regarding this funding President of the COM Frantz Gumbs who went to Paris late last year with a delegation had said they proposed to the State not to take away the entire amount immediately. However on Monday the Constitutional Council in Paris ruled that St. Martin is no longer entitled to these monies for the next three years. Octroi de mer is funds are disbursed annually.
Reports are that the President of the Regional Council Victorin Laurel had voted against the need to extend the funding until 2011for St. Martin and St. Barths since the island still has 18- months to prepare a fiscal plan.
Laurel had said the State Secretary of Overseas Territory did not consult with the departments prior to saying he was going to extend the cut off date, thus Laurel and sixty other socialist deputies managed to secure a redress on the matter.
Right now the French side of the island is suffering from an economic set back and it is clear with the lost of these funds will deal the COM a severe blow since the COM does not have excess monies. So far politicians locally have not addressed the matter locally but Senator Louis Constant Fleming in an interview with another media house had said that he would be content with the matter if State Secretary of Overseas Affairs would at least look at the matter one more time.