11th REPUBLICAN PARLIAMENT: 5th SESSION

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House of Representatives

Motions

1st Session of the 11th Republican Parliament

Increase of Loan Ceiling under the Development Loans Act

WHEREAS it is provided by section 3(1) of Development Loans Act that the Government is authorized, for the purpose of:

  1. financing general development in Trinidad and Tobago;
  2. repayment of borrowings effected for such general development; or
  3. repayment of borrowings effected for general development;
  • by a statutory authority within the meaning of the Statutory Authorities Act;
  • by an enterprise that is controlled by or on behalf of the State; or
  • by the University of the West Indies,
  • to borrow from time to time money externally or internally in a sum or sums not exceeding in the aggregate thirty thousand million dollars in the currency of Trinidad and Tobago:

    AND WHEREAS it is also provided in the said section 3(1), that thereafter such sum in such currency may from time to time be specified by Resolution passed by the Senate and the House of Representatives:

    AND WHEREAS it is necessary for the Government to borrow further sums of money for the purposes stated in the said section:

    BE IT RESOLVED that for the purposes stated in the said section, the Government is hereby authorized to borrow money externally or internally in a further sum or in further sums not exceeding in the aggregate fifteen thousand million dollars in the currency of Trinidad and Tobago.

    (By the Minister of Finance)

    First Debated: 04-Dec-2015
    Approved on: 4-Dec-2015
    8-Dec-2015
    Speakers in the:
    House of Representatives
    04-Dec-2015 House of Representatives Debate Day 1 - View Resolution here PDF icon (34.5 kb) | Hansard PDF icon (791.0 kb)
    Hon. Colm Imbert, MP [Diego Martin North/East] [Minister of Finance]
    Dr. Bhoendradatt Tewarie, MP [Caroni Central] [Opposition Member]
    Hon. Marlene McDonald, MP [Port-of-Spain South] [Minister of Housing and Urban Development]
    Dr. Surujrattan Rambachan, MP [Tabaquite] [Opposition Member]
    Hon. Anthony Garcia, MP [Arima] [Minister of Education]
    Mr. Prakash Ramadhar, MP [St. Augustine] [Opposition Member]
    Hon. Maj. Gen. Edmund Dillon, MP [Point Fortin] [Minister of National Security]
    Mr. Rodney Charles, MP [Naparima] [Opposition Member]
    Hon. Terrence Deyalsingh, MP [St. Joseph] [Minister of Health]
    Mr. Barry Padarath, MP [Princes Town] [Opposition Member]
    Senate
    08-Dec-2015 Senate Debate Day 1 | Hansard PDF icon (1,082.0 kb)
    Hon. Colm Imbert, MP [Diego Martin North/East] [Minister of Finance]
    Sen. Wade Mark [Opposition Senator]
    Sen. Stephen Creese [Independent Senator]
    Sen. Dr. Lester Henry [Government Senator]
    Sen. Khadijah Ameen [Opposition Senator]
    Sen. H.R. Ian Roach [Independent Senator]
    Sen. the Hon. Franklin Khan [Minister of Rural Development and Local Government]
    Sen. Wayne Munro [Opposition Senator (Temporary)]
    Sen. Paul Richards [Independent Senator]
    Sen. Taurel Shrikissoon [Independent Senator]
    Sen. Wayne Sturge [Opposition Senator]
    Sen. the Hon. Clarence Rambharat [Minister of Agriculture, Land and Fisheries]
    Sen. Melissa Ramkissoon [Independent Senator]
    Sen. Jennifer Raffoul [Independent Senator]
    Sen. Gerald Hadeed [Opposition Senator]
    Sen. David Small [Independent Senator]
    Sen. Rodger Samuel [Opposition Senator]
    Sen. Dr. Dhanayshar Mahabir [Independent Senator]
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