Penny knocks Finance 2025 Bill, which is passed by simple majority

Opposition Leader Pennelope Beckles during sitting of the House of Representatives on Friday for debate on the Finance Bill, 2025. PHOTO BY AYANNA KINSALE - Ayanna Kinsale

THE Finance Bill, 2025 was passed by simple majority shortly before 9 pm on Friday following a marathon sitting in the House of Representatives. The Bill provides for the amendment of 21 pieces of legislation.

Provisions of the bill includes:

* Introduction of new frameworks for taxation.

* Increased penalties for the commission of offences or infractions under various legislative frameworks, which concern the safety and health of the population.

* Revisions to the laws and regulations concerning the entry and departure of persons into

and out of TT.

* Amended regulations pertaining to the declaration of goods entering TT and the provision for certain disclosures to be made to safeguard the health and safety of TT.

The bill was considered in committee stage and was passed with amendments. The bill was read a third time and passed. No division (of votes of MPs) was called for.

Debate saw seven speakers including the mover of the bill, Finance Minister Davendranath Tancoo, San Fernando East MP Brian Manning, Caroni Central MP David Lee, Oropouche West MP Dr Lackram Bodoe, Laventille East/Morvant MP Christian Birchwood and Opposition Leader and Arima MP Pennelope Beckles.

In her contribution, Beckles said the bill will have the opposite effect of what it is intended to do – that is, make legislative changes to give effect to proposed policies laid out in the October 13 budget.

“Mr speaker, a number of the measures are ill-conceived and are designed to inflict further pain to the people of TT. It is true to say that over the next couple of months we will see unfolding that these measures will actually bring more hardship to the people of TT,” Beckles said.

“There are actually no measures in place for the people of TT to feel that this government is governing with any kind of equity. The finance bill is not a revenue plan, it reads more like a punishment plan. It is designed to squeeze water out of stone and place a heavy and extreme burden on the people of TT.”

She reminded the House of statements made by the prime pinister against taxation while in opposition.

She started with the commercial tax and landlord surcharge which requires every landlord to register the property and provide the description of properties and it purpose.

She also asked how the added five per cent surcharge interacted with the business levy that currently exists.

She knocked the surcharge saying: “it matters not if it is a surcharge or whatever they call it, it is a tax on homes.”

“Who will pay that tax? It is simple to say that these people are in business and that tax is going to be passed on to every member of the public.”

She also called on the Finance Minister to let the public know when they can ask for their property tax refunds.

She accused the government of being untruthful when it claimed that since it took office, everything had been running smoothly.

The Summary Offences Amendment Bill 2025, in the name of the Attorney General, will be debated on December 9 at 1.30 pm. The House was later adjourned to this date.