$273.5M Green Fund money lying idle in Central Bank

Government (via the Inland Board of Revenue) has collected some $273.5 million on behalf of the Green Fund Agency. But because the Agency was not fully operational, the money has not been handed over to it, and is just sitting in an account at the Central Bank. This was disclosed by Minister in the Ministry of Finance, Conrad Enill in response to a question from UNC Senator Wade Mark. Enill stated that Government, which had established a committee to comprehensively review the policy for establishing the Green Fund, found that the Finance Act 2000 (under which the Fund was established) did not adequately provide for proper accountability, transparency and management of the resources of the Green Fund. He said the committee suggested that legislative changes be made to the operation and administration of the Fund. He said Cabinet had therefore  agreed to bring by January 31, 2004, a bill to establish the Green Fund in accordance with the Exchequer and Audit Act. But the bulk of the debate in the Senate focused on the Community Mediation Bill.
 
Attorney General John Jeremie patted himself and others on the back as well as got pips from one member of the Opposition, Senator Carolyn Seepersad-Bachan. Seepersad-Bachan congratulated the AG on his “fine chairmanship” of the Special Select Committee of the Senate to consider and report on the Mediation Bill in the Senate yesterday. Jeremie earlier complimented members of the committee on their diligence and noted that it was the third time in as many weeks (since his taking office) that Government and Opposition had achieved consensus on an issue of public interest. He noted that the Report of the Commitee was signed by all members of the Committee, which included Government, Opposition and Independent members. The other two measures in which Government had secured consensus was the Report of the Joint Select Committee to consider the declaration forms required by the Integrity in Public Life Act and the Occupational Health and Safety Bill. However despite the consensus on the Report of the Joint Select Commitee on the Mediation Bill, Seepersad-Bachan expressed concerns about the fact that the new bill contained a clause repealing the Community Mediation Act of 1998.

She said one of the shortcomings of the proposed bill was that it did not provide for criminal matters to be referred for mediation. With the repeal of the 1998 Act, a void would be left, she noted. She expressed particular concern over the plight of young offenders who (through mediation) could be taken out of the criminal justice and prison system and not allowed to mix with hardened criminals. This is what led to the corruption of many young offenders, she said. Seepersad-Bachan suggested that until the recommendations of the Committee (that a package of penal reform measures to provide for mediation in criminal matters be brought to Parliament) the 1998 Act (which allows for mediation in criminal matters) not be repealed.