AG: Economy ruined by PP

ATTORNEY General Faris Al-Rawi yesterday slammed “massively, radically insane financial decisions” by the former People’s Partnership (PP) government for the current state of TT’s economy. Al-Rawi made this condemnation as he rejected allegations from the Opposition during debate on the Valuation of Land (Amendment) Bill 2018 in the Senate.

After he dismissed Opposition Senator Wade Mark’s claim that the 2009 Valuation of Land Act was oppressive, Al-Rawi reminded senators that the PP used that same law as the basis to implement property tax from 2014-2017. He quoted former finance minister Larry Howai’s statement in Parliament on September 9, 2013 to support his argument.

Al-Rawi said decisions taken by the PP, including tax deferral, have “ruined” the economy.

He said TT will see returns from the energy sector in 2024.

Government senators thumped their desks as Al-Rawi spoke about Prime Minister Dr Keith Rowley’s meeting with energy companies in London to recover revenue lost under the PP and salvage the economy. On claims that the valuation tribunal proposed in the bill was improper, Al-Rawi said a Court of Appeal judgement on December 9, 2014 rejected that argument. He identified President Paula-Mae Weekes as one of the Appeal Court judges who heard that matter.

Al-Rawi said there were several pieces of legislation which allow the existence of similar tribunals in other entities. He told senators that any court may not be right on a particular matter and recalled that while one judge ruled in favour of former minister Devant Maharaj in one case against the Commissioner of Valuations, another judge and the Court of Appeal overturned that ruling.

Earlier in the sitting, Mark warned the Government the bill “will be the end of you.” He said former prime minister Patrick Manning tried unsuccessfully to implement this law in 2009 and lost a snap general election a year later.

Mark slammed a proposal to increase the penalty, for failing to file a land value return, from $500 to $5,000. He said Government appeared confused as to whether the bill was a revenue-raising measure or intended to promote equity.