House of Representatives

Motions

Increase the Borrowing Limit under the Development Loans Act

Both - 4th Session - 12th Republican Parliament

WHEREAS it is provided by section 3(1) of the Development Loans Act that the Government is authorised, for the purpose of —
(a) financing general development in Trinidad and Tobago;
(b) repayment of borrowings effected for such general development; or
(c) repayment of borrowings effected for general development —
(i) by a statutory authority within the meaning of the Statutory Authorities Act;
(ii) by an enterprise that is controlled by or on behalf of the State; or
(iii) by the University of the West Indies,
from time to time to borrow money externally or internally in a sum or sums not exceeding in the aggregate sixty-five 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 authorised to borrow money externally or internally in a further sum or in further sums not exceeding in the aggregate ten thousand million dollars in the currency of Trinidad and Tobago.

(By the Minister of Finance)

15 Mar 2024
Approved
House Debate - Day 1Hansard
15 speakersShow Speakers
1.The Honourable Colm Imbert [Diego Martin North/East] [Minister of Finance]
2.The Honourable Kamla Persad-Bissessar SC [Siparia] [Leader of the Opposition]
3.The Honourable Stuart Young [Port-of-Spain North/St. Ann’s West] [Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister]
4.Mr. Davendranath Tancoo [Oropouche West] [Opposition Member]
5.The Honourable Brian Manning [San Fernando East] [Minister in the Ministry of Finance]
6.Mr. Rushton Paray [Mayaro] [Opposition Member]
7.The Honourable Marvin Gonzales [Lopinot/Bon Air West] [Minister of Public Utilities]
8.Mr. Barry Padarath [Princes Town] [Opposition Member]
9.The Honourable Stephen Mc Clashie [La Brea] [Minister of Labour]
10.Mr. Rudranath Indarsingh [Couva South] [Opposition Member]
11.The Honourable Symon de Nobriga [Diego Martin Central] [Minister in the Office of the Prime Minister – Communications]
12.Mrs. Anita Haynes-Alleyne [Tabaquite] [Opposition Member]
13.The Honourable Shamfa Cudjoe-Lewis [Tobago West] [Minister of Sport and Community Development]
14.Ms. Vandana Mohit [Chaguanas East] [Opposition Member]
15.The Honourable Colm Imbert [Diego Martin North/East] [Minister of Finance]
19 Mar 2024
Approved
Senate Debate - Day 1Hansard

22 votes for, 6 votes against, no abstentions

14 speakersShow Speakers
1.The Honourable Colm Imbert [Diego Martin North/East] [Minister of Finance]
2.Senator Wade Mark [Opposition Senator]
3.Senator Sunity Maharaj [Independent Senator]
4.Senator Laurel Lezama-Lee Sing [Government Senator]
5.Senator Jearlean John [Opposition Senator]
6.Senator Hazel Thompson-Ahye [Independent Senator]
7.Senator the Honourable Rohan Sinanan [Minister of Works and Transport]
8.Senator Anil Roberts [Opposition Senator]
9.Senator Dr. Paul Richards [Independent Senator]
10.Senator the Honourable Dr. Amery Browne [Minister of Foreign and CARICOM Affairs]
11.Senator Dr. Tim Gopeesingh [Opposition Senator (Temporary)]
13.Senator David Nakhid [Opposition Senator]
14.The Honourable Colm Imbert [Diego Martin North/East] [Minister of Finance]