‘It is time UK get a new loan for reparations’- Hon Julian Fraser RA - Urges VI to be reminded of true meaning & relevance of emancipation even while having fun

ROAD TOWN, Tortola, VI- Leader of Her Majesty’s Loyal Opposition, Honourable Julian Fraser RA (R3) has called for reparations from the United Kingdom (UK) for the descendants of slaves, while noting that this must be captured in the pending reformed Constitution of the Virgin Islands.

‘Reparation is the word’- Hon Fraser

Honourable Fraser was at the time giving official remarks at the official opening of the Bernard ‘Yampi’ Nibbs Festiville at Festival Grounds, Tortola on July 27, 2022, when he sought to leave the word ‘Reparation’ as a takeaway for those present.

“But the one word I want to leave with you this evening is reparation. Reparation is a word I want you to remember. Reparation means whatever we were emancipated from we are going to be compensated for.”

‘Uk should get a loan for reparations’

According to the Opposition Leader, the British Government recently finished off paying off a loan that they used to compensate slave masters and plantation owners at the time of emancipation and can now seek a loan for reparations.

“It is time they get a new loan for reparations,” Hon Fraser said.

The British government in 1835 borrowed 20 million pounds – the equivalent of around 17 billion pounds today – to compensate slave owners for the lost capital associated with freeing slaves. This payout was a massive 40% of the government's budget and required many bonds to slave owners to effectuate the law.

The loan was one of the largest in history and was paid off by the UK government only in 2015.