| PM Answers PUP Deputy Espat |
| Mon, March 30, 2015 |
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| And while that was the budget debate - this year, the debate fireworks were saved up for the debate on the Petrocaribe Loans Bill. As we have reported, the legislation is to make special provisions for loan receipts from Petrocaribe. But the PUP says that the Bill seeks to circumvent the Finance and Audit Act and give superpowers to the Minister of Finance, in this case Prime Minister Dean Barrow. The man leading the charge has been PUP Deputy Leader Julius Espat. On Friday we broadcast a small portion of his address, but we couldn't get to the Prime Minister's rebuttal - since it happened at about 7:30. Tonight, we have those, where the Prime Minister says that the Opposition has deliberately misconstrued the intention of the Bill:..
Hon. Dean Barrow, Prime Minister
"What the bill is saying, notwithstanding anything contain in the Finance and Audit Reform Act. It shall be lawful for the government to borrow from ALBA Petrocaribe, in any amounts without the prior authorization of the National Assembly. Those are the operative words "without the prior authorization of the National Assembly." You still have to come back and get subsequent retrospective authorization because that's the only way to do it. You don't know what you are approving until you actually collect the money, in consequence of the peculiar arrangements. All the other provisions of the Finance and Audit Act remain enforced. You are only exempting Petrocaribe from that one provision that in the normal course, requires you to get prior authorization from the National Assembly to borrow upwards of 10 million. They say that that too is ominous. Sir, I am sorry to have to keep harping on your ignorance. All government monies go to the central bank. Where else would you keep it? In your back pocket?"
Of course that's not the end of it - far from it, actually, as the PUP will be taking it to court and will, apparently, build a media campaign around the Loans Bill.
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