Talk to the Opposition on FATCA, not the Government!That is what Minister in the Office of the Prime Minister Stuart Young has told the Bankers' Association of T&T, the T&T Chamber and other groups who want Foreign Account Tax Compliance (FATCA) legislation passed.
Young offered that advice in a no-nonsense tone during yesterday's 2017 Budget debate in Parliament where he stressed Government's commitment to passage of the legislation.He, however, noted statements from the BATT and its president Anya Schnoor calling for the FATCA debate to start right after the Budget.
"I find it a little strange the BATT has suddenly found their voice. It should have been done since 2010," he said, adding that the PNM is willing to vote for the Bill.
"We have 23 votes. It's those on the other side they need to go and have conversations with," he said.
Young said between now and start of the debate on the Bill, the BATT should engage the Opposition.
"We've done what we need to do. The BATT and others should note the UNC didn't propose a single amendment to the bill last time."
The minister said statements by Opposition MP Roodal Moonilal on whether Government could pass special majority legislation might see hampering of legislation for the Revenue Authority which BATT and other business groups support.
Young also rebuked Republic Bank managing director Nigel Baptiste for statements in a recent newspaper interview about perceived Budget overspending. He said he would advise "commentators to read the Budget documents before commenting, especially if they hold positions of responsibility."
Young said Government is doing exactly as Baptiste advised–cutting expenditure.On Government's planned Tobago hotel development venture, Young said conversations had been started with the Sandals Group and going very well. He said Government would get to the negotiations on "terms best for T&T."
He said Sandals indicated it would source 85 per cent of foodstock from Tobago and Trinidad and would use local tour operators. Sandals' involvement in Grenada and Barbados have boosted their respective economies, he added.
To Opposition interjections about issues with Sandals in Antigua, Young said that matter is a dispute in arbitration.
"This government will not tolerate any fear-mongering or attacking of those who want to invest in Trinidad and tobago," he said.