NEWS
WATCH YOUR MOUTH, COLM *: Speaker pulls up Finance Minister for using the word ‘idiot’ in Parliament
House Speaker Bridgid Annisette-George had cause to reprimand Finance Minister Colm Imbert yesterday for his use of the word “idiot” during the contribution of Caroni Central MP Dr Bhoe Tewarie. Speaking on the Motor Vehicle and Road Traffic Amendment Order and the Customs Amendment Order in Parliament, Tewarie said the increases in the motor vehicle tax and import duties for luxury cars represented “a complete and utter failure” as a revenue-earning measure. Read more here…
Imbert: Drive smaller cars
Government wants to “push” people to drive smaller cars, Finance Minister Colm Imbert said yesterday. He said Government also needed to encourage people to use fuel-efficient vehicles.
He said the “favourite vehicle of (the members of) the former administration”, the Toyota Prado, has moved from an on-the-road price of $739,000 to $877,583 with the increase in taxes on luxury cars.
“I am not sure who can afford a vehicle for $739,000, but it is now $877,000,” he said. Read more here…
Petrotrin slammed for refusal to submit documents
The Joint Select Committee (JSC) on State Enterprises yesterday reprimanded State-owned Petrotrin for refusing to submit critical documents it relied on in making its controversial decision to drop the lawsuit against former executive chairman Malcolm Jones. Read more here…
Fired steelworkers demand severance payment
Pointedly wearing a red People’s National Movement (PNM)T-shirt, former ArcelorMittal port coordinator Joanette Pariag stood at the Point Lisas roundabout yesterday to send a clear message to Prime Minister Dr Keith Rowley: “This is not what we voted for.”“How many more must die Dr Rowley? Our lives are in your hands. Act now!!! This is not what we voted for,” her banner stated. Read more here…
BUSINESS
BIR must clear severance payment
Director at Bhagwansingh Hardware & Steel Industry Ltd (BHSIL) Vinoo Ramoutar says while Central Trinidad Steel Ltd (Centrin) owes vacation and severance pay to its retrenched workforce, the company cannot release funds until it gets clearance from the Board of Inland Revenue (BIR).Responding to a protest by the Steel Workers Union (SWUTT) in the aftermath of former Centrin operator David Francis’ suicide last week, Ramoutar said he has called a meeting to discuss the payment to the workers. Read more here…
TCL moves from loss to profit
Less than a year after completing a major debt restructuring exercise, the Trinidad Cement Ltd (TCL) Group has recorded its highest revenue of $2.1 billion. Financial results just released by the group also show profit after tax of $428.8 million—a significant turnaround from losses of $211 million in 2014. Read more here…
REGIONAL
Former PM rejects calls for T&T trade boycott
Jamaica Opposition Leader Portia Simpson-Million has rejected calls for a boycott of goods and services from T&T over the alleged maltreatment of Jamaicans by immigration authorities at Piarco International Airport. The former prime minister said the boycott is not necessary because there can be diplomatic solutions. However, Simpson-Miller is insisting that the rights to free movement for Jamaicans under the Treaty of Chaguaramas must be upheld. The Jamaica Chamber of Commerce (JCC) has also rejected calls for a boycott witj JCC president Warren McDonald calling for other avenues need to be explored. However, president of the Private Sector Organisation of Jamaica (PSOJ) William Mahfood said Jamaica should consider using its influence within Caricom until T&T honours its obligations for free movement of goods, skills, labour and services. President of the Jamaica Manufacturers’ Association (JMA) Metry Seaga is also calling for a re-examination of the CSME. Read more here…
INTERNATIONAL
Luxleaks whistleblowers trial begins in Luxembourg
The LuxLeaks scandal cast light on how the small country helped giant companies slash their global tax bills. Two ex-employees of accounting giant PricewaterhouseCoopers (PwC) and a journalist are on trial. They could face up to 10 years in jail. The government and companies named say their tax practices are not illegal. It was the biggest leak of its kind until the Panama Papers this year showed how the rich and powerful use tax havens to hide their wealth. Read more here…
26th April 2016