Senate passes Finance Bill

At 10.47 pm on Thursday, the Senate passed the Finance Bill 2004. Coming from the Lower House, the Bill tied up loose ends in several areas.

The Bill gave more discretion to a tendering committee, increased tax breaks for pensioners, gave more tax deductions to companies sponsoring arts and sports, banned the import of armoured cars, and amended the administration of the Green Fund. This varied Bill produced wide debate on varied topics. UNC Senator Roy Augustus championed the underdogs of the music industry. He urged we follow the example of Canada which mandates 35 percent of radio airplay be given to local music. He also noted that the Government had been accused of racism for sponsoring certain calypso tents but not the tent of Nirmal “Massive” Gosein. Augustus, a retired school principal, said he and other retirees would be willing to voluntarily assist in children in schools if such avenues were made  available.

In reply, Minister of Community Development, Joan Yuille-Williams, said her Ministry already had a “Retired Experts Programme” which she hoped would soon be running at 21 community centres.  Replying to criticism of the recent walkabouts of Prime Minister Patrick Manning to various communities, she said local people had been glad for the visits. Blue Diamonds Steel Orchestra on Nelson Street, she recalled, had effused that Manning’s recent visit was the first from a Prime Minister since a visit by Dr Eric Williams. “They just wanted him to come. What’s the problem with a Prime Minister visiting his community?”

One Senator complained about the chaos caused by the failure to have the laws of Trinidad and Tobago consolidated into a single up-to-date document since 1980. In reply, Minister of Legal Affairs, Danny Montano, said the process of consolidation had begun. Consolidation would be completed for all the laws relevant to the Finance Act by September, he said, and completed for all the laws of the land in about two and a half years time. Montano replied to Opposition claims that people were sending their foreign exchange out of the country because of fears of kidnapping. He said such monies were leaving the country to seek out better investment options abroad, in a time of low local interest rates and low returns.

Opposition Senator Sadiq Baksh said that despite the Government collecting $50 million for the Green Fund this year, they had failed to adhere to a 1994 law which says they must account for the Fund to Parliament every six months. The Government, said Baksh, hadn’t reported for two years.  He said that under the National Constitution, it was illegal for any Government Minister to control the daily expenditure of the Fund. In reply, Junior Minister of Finance, Conrad Enill, said the Government had been unable to operate the Green Fund because it did not fulfil the accountability requirements of the Exchequer and Audit Act. “We should always have a system of transparency and accountability. We will attempt to do this through the regulations.”

Enill replied to speculation, both local and foreign, that Trinidad and Tobago could suffer a terrorist threat related to LNG shipments. “The consulting firm, TRW, the one I think which made the comment also identified tankers carrying Canadian oil or cruise liners carying hundreds of tourists as a possible security risk.” The senate passed the Bill.