Regional News Roundup: Finance Row in T&T, Security Sweeps in Antigua, and UK Political Turmoil

By Antonio Dey | HGP Nightly News|

TRINIDAD & TOBAGO: Minister Tancoo Denies Link Between Bank Fees and Government Levy

PORT OF SPAIN – Minister of Finance Davendranath Tancoo has moved to quell public outcry regarding a massive fee hike at Republic Bank Ltd (RBL), dismissing attempts to link the price surge to government policy as “media mischief” and “deliberate ignorance.”

Effective May 1, 2026, RBL implemented a new fee structure that saw the cost of essential banking services jump by over 70%. The timing sparked immediate accusations—including suggestions from former Finance Minister Colm Imbert—that the bank was passing the cost of the government’s new 0.25% asset levy directly to consumers.

Minister Tancoo firmly rejected these claims in a statement to Guardian Media, noting that the bank has increased fees multiple times in the recent past independent of budget measures. “I appeal for responsible reporting,” Tancoo stated, adding that the bank’s leadership has been engaged by the appropriate authorities and is expected to issue a clarifying statement shortly.

Regulatory Oversight in Question

The Fair Trading Commission (FTC) has expressed a willingness to collaborate with the Central Bank to investigate potential competition gaps in the commercial banking sector. However, the FTC’s reach is currently limited by the Fair Trading Act, which traditionally excludes financial institutions falling under the Securities Act.

ANTIGUA & BARBUDA: Pre-Dawn Raids Lead to Arrests and Firearm Seizure

ST. JOHN’S – A joint security operation involving multiple specialized police units resulted in several arrests and the recovery of illicit items during a series of coordinated searches on Wednesday, May 6.

The raids targeted private premises in the Freetown area and a farm along Collins Road. Key outcomes of the operation included:

• Weaponry: Seizure of a modified flare gun and live ammunition.
• Contraband: Recovery of a camouflage shirt, which is restricted under local law.
• Arrests: Two individuals were detained at a private residence in Freetown. Additionally, two Venezuelan nationals (aged 70 and 39) were arrested for illegal firearm possession and immigration violations.

All suspects are currently being held at the St. John’s Police Station as investigations continue.

INTERNATIONAL: Starmer Vows Persistence After Labour’s Local Election Defeat

LONDON – British Prime Minister Keir Starmer faced a sobering political reality on Friday as results from local elections across England signaled a significant blow to his Labour government. Despite the losses, Starmer vowed to remain in office and continue his mandate to “deliver change.”

Less than two years after a landslide national victory, the Labour Party saw its traditional strongholds in the industrial regions of central and northern England crumble. The election results highlighted a dramatic shift in the UK’s political landscape:

• The Rise of Reform UK: Nigel Farage’s populist party was the night’s biggest winner, securing more than 400 council seats and positioning itself as a major opposition force in Scotland and Wales.
• Multi-Party Fracturing: The traditional two-party dominance of Labour and the Conservatives is under siege, with voters defecting to Reform UK on the right and the Green Party on the left.
• Nationalist Surges: Results in Scotland and Wales indicate a strengthening of nationalist movements, further complicating Starmer’s path to national stability.

Political analysts suggest these results indicate a “punishment” for the incumbent government, raising serious questions about Labour’s long-term grip on its working-class base.