00:00Two very different perspectives from Finance Minister Devindranath Tanku and Colmimbert, the MP who held the post previously.
00:08The Finance Bill 2026 is part of the work of keeping promises and making people's lives better.
00:16This finance bill is an attack on the poor people of this country.
00:23According to Tanku, police, prisons and fire officers who acted in a higher office for at least one year,
00:29but under three years right before retirement or going on annual leave, will be beneficiaries under the 31-closed bill.
00:37That officer will be eligible to have his pension, gratuity or other allowance calculated as though he had been substantively
00:45appointed to that higher office.
00:47Also in the bill, money donated under the Exchequer and Audit Act can be paid until a fund established under
00:54the Act.
00:54Income tax reduction for that is limited to 20% of the total income or $20,000, whichever is lower.
01:02And for companies, 15% of taxable profits or $100,000, whichever is lower.
01:10This is of direct benefit to women and girls exposed to period poverty
01:16and to the many civic-minded citizens, institutions and businesses that support this women's health fund.
01:24According to Tanku, among the other positives,
01:27a reduction in amusement gaming tax outside that of roulette machines from $25,000 to $12,000
01:34and $120,000 for roulette machines for bars, the same as applies for casinos.
01:42Also, an increase in the number of amusement games from 20 to 33
01:46and allowing operators to pay their taxes on a quarterly basis from April 1st to June 30th onward
01:54with any prior overpayment to be refunded.
01:57The finance minister admits to the sweeping fines under the bill for offences he states that the PNM implemented.
02:04These include the Gambling and Betting Act, the Registration of Clubs Act,
02:08the Pharmacy Board Act, the Pesticides and Toxic Chemicals Act,
02:12the Tobacco Control Act, the Motor Launchers Act,
02:16the Shipping Act, the Corporal Products Control Act,
02:19the Forest Act, the Sawmills Act, the Conservation of Wildlife Act,
02:24the Animal Disease Importation Health and Welfare Act,
02:27the Miscellaneous Taxes Act and the Spurts and Spurt Compounds Act.
02:33Increases are from 50 percent to 400 percent.
02:37But Tanku justifies it, calling it a law-breaking mitigation measure.
02:41Any standard one student will tell you that a fine is not a tax.
02:45A fine arises when a law is broken.
02:48But the former finance minister pulls from the archives of the UNC's pre-election statements.
02:55According to Ms. Passat-Besessa, traffic fines are just another form of tax.
03:04So I heard the minister say, promise made, promise kept.
03:10They never promised to increase taxes and increase fines and introduce new taxes.
03:16More than that, Imbert states that small businesses and entrepreneurs
03:21who are engaged in making vinegar and coconut products, including oil,
03:25will suffer because of the new fines and difficult processes to get registered.
03:32He goes further to say that many of them are from rural communities.
03:37Wiping out small businesses across this country,
03:39putting little people out of income,
03:43turning them to a life of crime.
03:45That is what this government is doing.
03:46Imbert is also questioning where is the promised exemption for public pensions.
03:51Tanku's accusation towards the PNM.
03:54They will stand in defense of lawbreakers
03:57and against penalties for breaking the law, Mr. Speaker.
04:00A 10% increase in fine was criminal under us,
04:04but a 400% increase in fine under them is okay.
04:08Alicia Boucher, TV6 News.
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