As part of an initiative called “Independence 40 Reset”, other measures, were introduced by Prime Minister, Dr. Terrance Drew, aimed at revitalizing the nation and expressing gratitude to its hardworking citizens.

The Independence 40 Reset programme consists of six (6) initiatives, namely Workers’ Reset (where workers who contribute to the Social Security will receive $1000 EC), Electricity Arrears Reset, Water Services Arrears Reset, Housing Arrears Reset, L.A.N.D Reset, and the Building Materials Reset or Build and Thrive Incentive.

Electricity Arrears Reset: immediate reconnection will be granted to all residential SKELEC customers currently disconnected. Water Services Reset: Residential Water Services Department customers currently disconnected will also benefit from immediate reconnection under the initiative. The Water Services Department is prepared to assist with payment plans.

Housing Arrears Reset: this is significant relief for housing-related arrears and all penalties on arrears from the National Housing Corporation (NHC) will be eliminated. Effective September 30, 2023, under the L.A.N.D Reset, the interest rate on residential lands has been reduced significantly from 12% per annum to 6% per annum.

The Building Materials Reset is also dubbed the Build and Thrive Incentive. Under this initiative, first-time homeowners with a mortgage of up to EC$500,000 and homeowners wanting to renovate their homes will benefit greatly.