Economic Policy Advisor Rolando Brison talks about Govt. broad policy agenda

GREAT BAY--The Government of St. Maarten has set out a broad policy agenda aimed at strengthening consumer rights, modernizing financial oversight, diversifying tax collection, and building resilience across key economic sectors.

Former Member of Parliament Rolando Brison, now serving as a Senior Policy Advisor in the Ministry of Tourism, Economic Affairs, Transport and Telecommunication (TEATT), outlined these issues in an extensive radio interview on Monday on The Breakfast Lounge with Lady Grace.

𝐁𝐚𝐧𝐤𝐢𝐧𝐠 𝐑𝐞𝐟𝐨𝐫𝐦 𝐚𝐧𝐝 𝐂𝐞𝐧𝐭𝐫𝐚𝐥 𝐁𝐚𝐧𝐤 𝐎𝐯𝐞𝐫𝐬𝐢𝐠𝐡𝐭

Brison stressed that the Central Bank of Curaçao and Sint Maarten (CBCS) has historically operated with Curaçao’s priorities in mind, leaving Sint Maarten’s specific challenges inadequately addressed. This imbalance, he said, has left consumers exposed to high fees, arbitrary account closures, and weak regulatory recourse.

Brison also expressed disappointment with the version of the banking legislation that was advanced after his initial draft. He explained that key consumer protections had been stripped away, leaving a “watered-down” law that failed to address Sint Maarten’s core problems with fees and access.

According to Brison, one glaring omission was the absence of a cap on monthly bank fees, a measure that exists in many other jurisdictions and was part of his original proposal. “You cannot expect consumers to have any real relief when banks remain free to charge what they want without limit,” he said.

He was equally critical of the process, noting that responsibility for the legislation had effectively been handed over to the Central Bank, the same institution he argued has been unresponsive to Sint Maarten’s needs. “You cannot ask the entity that has already failed consumers to design the solution for those consumers,” Brison argued.

As an example of how far the revised law fell short, Brison pointed to the “basic bank account” provision. In its current form, he said, the account caps customer savings at NAf 5,000, effectively forcing people to live paycheck to paycheck. “What is the point of telling our people they can have an account, but not letting them save beyond two or three paychecks? That is not empowerment, that is entrapment,” he stated.

Brison underscored that a meaningful law must include strong fee caps, transparency, and genuine access to accounts that allow residents to build savings and stability, not remain permanently on the edge of financial insecurity.

He praised Finance Minister Marinka Gumbs for pursuing legislation that restores stronger consumer protections in banking, including caps on monthly fees, mandatory transparency through published “league tables” of bank charges, and the enshrining of a legal right to hold a bank account. In other words, Gumbs will have to amened the current proposed banking legislation originally drafted by Brison, followed by official submission (the new version) by MP Ardwell Irion.

Brison added that proposed reforms would also flip the burden of proof in account closures: instead of consumers having to go to court to challenge a bank’s decision, banks themselves would need judicial approval before closing accounts.

He further proposed the creation of a consumer banking agency, similar to an ombudsman’s office, where citizens could file complaints about excessive fees, unauthorized deductions, or sudden account terminations.

Reflecting on the rollout of the Caribbean guilder, Brison criticized the NAf 15 million process as “a costly change of paper” that missed an opportunity to modernize the banking system with a digital payment option. He suggested that a government-backed digital wallet or mobile app could have improved financial inclusion and reduced dependence on banks.

𝐑𝐞𝐭𝐡𝐢𝐧𝐤𝐢𝐧𝐠 𝐓𝐚𝐱𝐚𝐭𝐢𝐨𝐧: 𝐅𝐫𝐨𝐦 𝐁𝐮𝐫𝐝𝐞𝐧 𝐨𝐧 𝐋𝐨𝐜𝐚𝐥𝐬 𝐭𝐨 𝐅𝐚𝐢𝐫 𝐒𝐡𝐚𝐫𝐞 𝐟𝐫𝐨𝐦 𝐓𝐨𝐮𝐫𝐢𝐬𝐭𝐬

Brison argued that Sint Maarten’s current tax system is fundamentally unbalanced, with the weight of government revenue borne almost entirely by residents. Wage taxes, income taxes, AOV/AWW contributions, and social premiums fall squarely on local workers and employers, with effective rates climbing as high as 40 to 50 percent. By contrast, tourists, who represent the largest share of the economy’s activity, contribute only a fraction of that through a 5 percent hotel occupancy tax.

He pointed out that even this limited tax is inconsistently collected, as a growing share of visitors use short-term rentals such as Airbnb, where occupancy tax collection is spotty or non-existent. “When a tourist spends a week in a hotel, government collects the room tax. But when that same visitor books an Airbnb, government often collects nothing,” Brison noted, adding that this loophole disadvantages hotels that comply with the law while denying the country needed revenue.

To correct this imbalance, Brison said government is actively studying a shift away from taxing income and wages toward a broad-based transaction tax. Under such a system, every purchase, whether by a local or a tourist, would include a small levy, ensuring that visitors contribute directly to maintaining the island’s infrastructure, environment, and public services.

He explained that this model is particularly well suited to Sint Maarten, where the economy is almost entirely import-driven. Unlike manufacturing economies, where transaction taxes can compound at every stage of production, Sint Maarten imports finished goods. “When a transaction tax applies in a country like Sint Maarten, there is no long supply chain for the tax to multiply across. That makes it far more efficient and fair,” Brison said.

He added that exemptions could be designed into the system for future local manufacturing or agricultural output, ensuring that any domestic industries are protected from the distortions that transaction taxes can create.

Brison stressed that this approach would not only reduce the tax burden on local workers but also align government revenue more closely with the sectors of the economy that benefit most from the island’s services. “A tourist who drives on our roads, uses our utilities, and contributes to waste and environmental costs must also help pay to maintain them,” he said.

Alongside the transaction tax, Brison highlighted ongoing work to tighten compliance for Airbnb and other short-term rentals, which would create a level playing field with hotels already collecting the 5 percent room tax. This, he noted, is part of a broader effort to ensure fairness in how revenue is collected across the tourism industry.

𝐔.𝐒. 𝐓𝐚𝐫𝐢𝐟𝐟𝐬, 𝐏𝐫𝐢𝐜𝐞 𝐂𝐨𝐧𝐭𝐫𝐨𝐥 𝐄𝐧𝐟𝐨𝐫𝐜𝐞𝐦𝐞𝐧𝐭, 𝐚𝐧𝐝 𝐃𝐮𝐭𝐲-𝐅𝐫𝐞𝐞 𝐀𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞

Brison described the global trade environment as unstable, noting that U.S. tariff policy under successive administrations has been characterized by rolling announcements, contradictions, and frequent adjustments. He said this created enormous uncertainty for small economies like Sint Maarten that rely on imports, particularly because almost all goods are shipped through Miami or other U.S. ports.

“In the beginning, we feared the worst, that everything entering Sint Maarten via the United States would be taxed, from food to building materials. That would have driven prices up overnight,” Brison explained.

However, he highlighted a key exemption that protected Sint Maarten: goods in transit, passing through U.S. ports without entering domestic circulation, are not subject to U.S. tariffs. “That exemption saved us. It meant that while the goods touch Miami, if they go straight into transshipment warehouses and continue to Sint Maarten, they are not taxed. Without it, the impact here would have been devastating,” he said.

He explained that the government carefully analyzed the official U.S. executive orders, hundreds of pages of fine print, to ensure Sint Maarten understood the legal nuances and could push back against inflated shipping costs.

Turning to local enforcement, Brison underlined that TEATT is actively policing price controls. Maximum retail prices for key goods are set by government and displayed at supermarket cashiers through QR codes, which consumers can scan to verify. He said enforcement teams have already encountered cases where stores were charging above the limit, and in those instances, prices were corrected on the spot. “It is not perfect, but it is having an effect, consumers now know they can check, and stores know they can be held accountable,” he said.

On Sint Maarten’s duty-free position, Brison said global trade shifts have opened a new opportunity. With liquor tariffs in overseas markets driving up the cost of champagne, wine, and cognac, Sint Maarten has become even more competitive. He pointed to recent reports of American visitors deliberately choosing Sint Maarten as a shopping destination because the savings on high-end liquor covered the cost of their airfare.

“Think about it, in the U.S., a bottle of Hennessy can run $100 or more. Here, that same bottle might cost $30. When five friends travel together and each buy several bottles, they’ve effectively paid for their plane tickets in savings,” Brison said.

He added that government intends to seize on this advantage by strengthening promotion of Sint Maarten as the Caribbean’s leading duty-free shopping hub. “This is one of our strongest selling points in today’s market, and with proper promotion, it can attract more stay-over visitors in addition to cruise passengers,” he concluded.

𝐀𝐠𝐫𝐢𝐜𝐮𝐥𝐭𝐮𝐫𝐚𝐥 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭 𝐚𝐧𝐝 𝐅𝐨𝐨𝐝 𝐒𝐞𝐜𝐮𝐫𝐢𝐭𝐲

On agriculture, Brison explained that government is advancing a policy framework that provides subsidies and guaranteed purchase agreements by linking farmers directly with hotels and restaurants.

He illustrated the concept with an example: large resorts that consume tens of thousands of eggs annually could commit to purchasing from local farmers, ensuring farmers have a stable market and reducing imports. He said this mirrors successful public-private coordination models in Latin America, where crops are effectively sold before planting, giving farmers certainty and reducing spoilage.

Brison underscored the importance of continuity across governments. Instead of discarding previous plans, ministries should adapt and improve them. He cited the Philipsburg Marketplace as an example, where reusing the previous design sped up delivery after years of delays.

“Whether it is banking reform, agriculture, or tourism development, Sint Maarten cannot afford to reset every four years,” Brison said. “Policies must evolve, but they must also continue. That is how lasting results are delivered.”

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