At last Friday’s Sitting of the House of Representatives, four bills were introduced namely the General Revenue Supplementary Appropriation Bill, the amendment of the Treasury Bill, Income and Business Tax Amendment Bill and the Mutual Administrative Assistance in Tax Matters Amendment Bill. The amendment to Treasury Bills Bill was what stood out as the opposition had disapproved of the amendment accompanied by much debate against it. The Treasury Bills amendment speaks to raising the limit of principal sums to one point two million dollars from the five hundred million dollar limit where it currently stands. The matter came before the Senate today for ratification as it was rushed through its three readings in the last House Meeting. PUP Senator, Eamon Courtenay spoke of the concerns and dangers that come along with this amendment.
Notably the Government has raised the limit on two occasions; the first being from one hundred million dollars to five hundred million dollars within a one year period.