Portia Simpson Miller explains new bank withdrawal taxes (or did she) !

A CVM reporter ( Garfield Burford) asked the Prime Minister on Tuesday, to provide an explanation of the new and now controversial bank withdrawal tax.

Try as she may, our Prime Minister fumbled and fumbled, before finally conceding that even she herself did not understand how the new system would work and referred the reporter instead to the finance minister saying

” I think the Finance Minister should explain this new tax so the people (including myself) can understand the tax. There is a lot of confusion as some people believe the bank has a tax and that people believe that if you go to the bank say4 times for the month you will have to pay a tax, err but that is not my understanding. The Finance Minster when he closes the debate will explain further the mechanism of the tax”.

The Prime Minister spoke like someone who had one drink to much, she started at least three sentences in her explanations, before truncating each one and moved unto another one. It was the most incoherent attempt at an explanation if there could have ever been one, clearly showing that even at the basic level, the Prime Minister lacks an understanding of the issues.

When the Prime Minister was done explaining her understanding of the tax, I could see she clearly had no idea what her Finance Minister had just presented and her explanation to the reporter was a clear and the pitch from the pitch lake in Trinidad and Tobago.

Again , I am not surprised as the Prime Minister has never told us we could expect any better from her and hence the reason she has always been running from the camera.



7 Responses

  1. Lol! Jay, did you really expect an intellectual discourse from Portia!! As for Roger, take him for who he is. A Clown. Sadly we are stuck with the bill.

  2. Actually , the PM is not at fault. How it was presented and how it is reported is confusing. First of all there is no withdrawal tax. So asking the PM the wrong question, will result in confusion.


    A bank customer should not expect .01 % of there money to be removed from each transaction as how the media makes it out to be.

    The PM was correct in her explanation.

    The PM should not be expected to explain the operational details of how the banks will go about the spread or other operational details of how the tax will be remitted.

    I always felt that we expect too much when we want PM to speak to operational details , let the relevant persons speak on that.

    You even see more confusion , when all the analysts give a different spin

    • You are such an apologist. You don’t expect the PM to know the operational details of this tax? Wasn’t this tax discussed with cabinet before being signed off on? The latitude that some of us are prepared to give this PM is simply astounding. It is as if PSM just simply being PM is good enough for some of us.

  3. No Man! The leader has a responsibility to be up to speed with such important developments!!

    • if the analysts can’t explain the tax, do you expect her to ?.

      She only know it from a high level. It is not a tax on Bank customers. She just stated the facts. The relevant persons with explain the mechanism.

      The media run and start saying it is a withdrawal tax on customers and creates confusions.

      it is in fact , a LEVY ON BANKS

  4. I even heard the JBA persons speak on it, and he said it is fairly complex, Different banks have different platforms, some may have to pass on a percentage of the levy to the customers.

    He spoke to credit cards, and remittances, plus the internet and all the attendant cost of implementing the mechanism.

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