As a public figure, I have a duty to ensure that my affairs meet legal and ethical standards, recognising as well that we are now in an election campaign where there is a concerted effort by the PNP to distract from the plans that the Jamaica Labour Party has put forward in our 10-Point
Plan for the benefit and prosperity of the people of Jamaica.
I will answer these questions but, first, for the sake of completeness and transparency, we too have questions to ask Dr Phillips and the PNP:
Dr Phillips, as a Parliamentarian earning practically the same salary as the Leader of the Opposition, how did you afford the house you presently live in which is valued at multiple times your salary?
Were you apart of the Cabinet of Jamaica which created FINSAC, and which took away the property of many hard-working Jamaicans and decimated the entrepreneurial class?
If the answer to question 2 is yes, did you acquire any of the properties taken over by FINSAC, or benefit in any way whatsoever.
Did members of the Cabinet that created FINSAC acquired properties taken over by FINSAC.
Does the answer to questions 2, 3 and 4 explain your unwillingness to complete and release the FINSAC report?
Do you own or have a beneficial interest in a house in Beverly Hills?
Are there members in the Cabinet who have offshore companies?
Will you declare any assets you have overseas?
Will the officers of the PNP, including yourself, testify and come clean about Trafigura?
The above questions are pertinent to the electorate, particularly those relating to Finsac. Those who lost their properties due to government policy have a right to know if their ministers of Government benefited from their loss.
Now, I will take the opportunity to dispose of the smear campaign and innuendoes of illicit funding initiated by the PNP.
Upon becoming a minister and also having regard to the fact that I had a young family, I took legal and accounting advice as to how I should structure my personal affairs.
Consequent on that advice, I incorporated an international business company in St Lucia.
This course of action is common practice, particularly for estate planning purposes. The name of the company ADMAT is a combination of the names of my two sons Adam and Matthew.
I am the sole director of the company and the company has three shareholders being my sons and myself.
The company was registered in 2008 and declared to the Integrity Commission that year.
Everything I own is physically in Jamaica.
In late 2010, I started negotiations to purchase a piece of land to construct my family home.
In January 2011, I made the first of four payments on the land.
Payments were completed in August 2011.
The title was transferred in July 2011. At the time of signing I did not write any statement saying, “signed while on a visit to Jamaica”.
Funds from my accounts at JMMB and Stocks and Securities were used to finance the purchase of the property.
In September 2012, we began preparation of the site for construction which involved excavation of boulders and fragmentation of rocks.
The resulting stones from this process were used to construct retaining, facing and boundary walls. This initial phase was financed from my savings, salary and supplier’s credit of approximately J$3.8 million.
This initial phase cost approximately J$8.6 million.
The second phase was the actual erection of the structure, this happened during 2013 at a cost of approximately J$35 million, which was financed by a J$10-million home improvement loan from Scotiabank, a J$3-million mortgage from Jamaica National and supplier’s credit of approximately J$15.6 million. My wife being a real estate developer, has established credit lines for the supply of construction and building material and equipment rental. The suppliers’ credit came from this source.
In 2014 we completed all major construction and in that year spent approximately J$9 million financed by salary, savings and supplier’s credit.
In 2015, there was no significant construction activity as the project was substantially complete.
To date the total cost of land preparation, construction and landscaping is approximately J$52 million spent over a period of four years, financed by savings, salary, bank loans, and suppliers credit.
Currently I am servicing debt repayments to the banks and to suppliers.
All of this has been declared in my annual integrity reports, which have been filed within the statutory time frame.
My report for the year 2015 will be filed by March 31, 2016 as required by law.
So, in the interest of transparency and integrity in public life, I have disclosed an unprecedented amount of personal financial affairs. Furthermore, our government will be committed to transparency. In the coming days we will be publishing the Jamaica Labour Party’s plan to address corruption.
I have now met the demands of the People’s National Party. I look forward to debating Mrs Simpson Miller soon.
Big gut Peter come talk to the man
Rayyy. Peter busy a try remember him assests since a lonnnnnng years him a plunda out a imf funds.
He can’t ask Dr Phillips those questions as Phillips is much older,from a rich family and have been part of the political landscape since 1989.
Nothing was disclosed in this disclosure.
Still extremely shady.
Loo all if him shit out the disclosure you would have a problem same way.
What a excuse you have fi phillips wealth…so rich people no thief to? His fat ass need fi ansa the questions of course.
Peter Phillips rich or not is taking pay from the people for service. He has a right to ask him the same questions he asked him. They are public servants. It would be a double standard. I personally don’t care however, they took the same oath and are indebted to Jamaica. No pun intended.
The real big man..Intelligent and transparent…true leader….
All dem foolery yah bout can’t ask Peter Phillips question because him older and richer. Government officials ah guh rob unuh blind. Wah kinda ignorance dis man?
I swear me did ago bed when me read that ish! :ngakak :ngakak what a brown nose comment :ngakak
I wonda if defender of the RICH know say a ‘dutty black gal’ phillips social class and family style Portia, or that Holiness coming from Ensom and go school a Spanish Town too low class fi dem.
Portia and Andrew know it which goes along with that ‘mother son’ ribbing.
Tsk, tsk, tsk. Onu go vote fi the best qualities a candidate have to offer and PHUCK party commitment.
This is disgusting. For one earlier last year he claimed he bought the land in 2008 and now he’s saying it was actually 2011. This guy is trying to avoid taxes, scrutiny of his funds and money laundering.
It’s quite sad to see this to be honest. And it’s even sadder to see his supporters blindly cheering him on instead of asking for him to step down. This guy has been in politics to enrich his pockets. The paper reports he was minister of finance when he made the first payment for this land in 2011. Think about the possibility of him actually stealing money from education to build mansion for himself ?
Copy, paste and cite your source.
Andrew Holness was never Minister of Finance.
mr hollness you are jamaicas future.
Why substantiate proof and it will not change the extreme cost of living in JAMAICA? We a worry and focus on the wrong thing! PNP need to stop stalk the opposition’s spendings and the opposition should do the same cuz di whole a dem a live lavishly while people a live in a squalah still a eat dumpling and butter!!! Di whole a dem greedy nuh BC!! Si one nex one deh a build a bigger house up PLANTATION heights yyy build these elaborate homes?? Di whole a dem need to put their homes in the gleaner for the die-hearted commerades and laborites who living like roaches and rats to open their eyes and see these people are for themselves, friends and families not for the poor only for the poor’s votes!
Big up uself Mr Holness
Proof of him giving a totally different story. Him get ketch and honestly Shaw and others have been trying to take him out of this leadership role for a reason. They know his file his nasty and obviously it would come back around to bite him. Now the PNP is saying they’re getting documents from JLP members. The party expect to lose and right now it seems like they just want to ensure they can remove him. Wignall even suggest that Patrick Roberts might beat Holness. Two different scenarios he described, last year he claimed to purchase the land years ago when it turns out that he actually just purchased it recently and began spending millions instantly in 2012. And the f**ka is so smart that he made it seem like it was a struggle to come up with the funds. I feel sorry for his supporters because he’s only betraying them. Good Luck to Jamaica’s tax payers. Them have it real rough.
http://www.jamaicaobserver.com/news/Andrew-s-house-fuels-unease_19153220
Jamaica Observer is the same as wikipedia- perfect for lazy people including the reporters and editors. Me a pay taxes and doing just fine except fi de potholes. Apparently, you have zero stakes in Jamaica, so keep it moving.
So you guys believe 52 mil was spent to make a house worth 300mil?
Why aren’t investors knocking down Andrew’s door?
There are many stupid labourites on Met’s site who could easily be led to believe that he spent $52 Million to build a $300 million house. It doesn’t take much to mislead the uniformed among us.
Wow!!
Sounds like he is in debt up to his eyeballs. Around 3 different loan
.How much shares were sold initially ?Company has your sons as shareholders.Is that away of saying some the money belong to your sons or are they eqaul investors in this property. Obviously his govt salary cannot afford that huge endeavor.Loan on top of loan..Damn.
I wonder what the interest rate.
How much is the line of credit for the said company that they are able to obtain multiple loans running at the same time or pay them off and take out new ones.This is not transparency but a good attempt.It still looking shady
Them think people a fool.
Where that money coming from ..smh
Good luck sir.
Yes Shaw want out him looong time for he knows it wud come to this saga @lol
The disclosure isn’t really a disclosure but it allows further research. Of course, he doesn’t have to disclos his personal affairs such as his family home. Is business and business interest only and than would have been done long time. Is it in the interest of the public to know how every stone this man move for his family home was paid for? NO.RIGHT TO PRIVACY AND FAMILY LIFE. That is some grassroots politics attitude where people find irrelevant ish fi ask. Did anyone ask Portia if she wear wig and if she buy her glasses downtown . Did she buy her wig from ChineyAli or any a the awesome hair technician or it was bought on Ali like Apple CHANEL bag?
Keep it real man and go out and put the X next to the bell.
People just interested and fass not public interest IMO.
I commend him for attempting to be transparent and allow the general public more access to his info. I am sure those dosclosure were made prior to now as it is required. We may be ignorant of some things but we can find out. Dem nuh Hatfi put everything on Social media or in the newspaper but we can find out. Just pay the money or make the request.
WHAT DOES THe MAN PERSONAL DEBT HAVE TO DO WITH HIM BEING PRIME MINISTER? As mi sey people should know what is in the public interest different from what the public is interested in.
Another imbecile speaks!! Why are labourites dumb by default? I have never met an intelligent labourite in my entire life, and most of the dumb ones seem to visit this site frequently (prime example, Ms.B from Tivoli Gardens).
Met free up di posting, can’t see my last so im trying another name/email.
Why the fk the PAIN-P don’t answer questions about the big mansions owned by Phillips, Pickersgill, Paulwell (4 or 5 benz inna yard), ETC.
Its a know fact that most politicans have assets that far exceed what a ‘ministers’ salary would allow.
And MET, why you don’t go source out some pictures of the other BIG MAN dem house. Show the bloggers who no live a yaard what really a gwaan.
Holness is a liar. You mean he couldnt say all this a long time ago.
When ppl attacked damion crawford about his land he issued a statement the next day stating he got money from nht and scotia and told us his salary and his deductions.
Only a fool will believe holness built that house for 52 million dollars and only a fool will believe his source now after more than a year.
I bet you he will regret telling a lie.
De man say him pardna and round robins too.
Andrew response to the question is baseless, first he said that he got a home improvement loan from the bank,(home improvement loan requires a house), there are no mortgages registered on the title indicating that he borrowed the money from these institutions and how can a structure of that magnitude cost 53 million in total…not buying it at all.
Why are you people so gullible and where is your critical thinking? Utter rubbish, an ‘overseas’ company that was incorporated and is wholly owned by Jamaicans–Andrew Holiness and his two sons. If this is not a sham, I don’t know what is. If this man does not have faith in Jamaica, why is he seeking to lead Jamaica and how does he expect Jamaicans to believe in him?
Call it what you may, these actions are the antithesis of integrity. How does a public figure get away with these type of things? This is different from the government screwing up, actually, I think it is worst. This reeks of greed and underhandedness–this man and his actions are dubious at best.
I don’t care if others have used this form of investment vehicle, the next Prime Minister should not. Where did the seed money come from to form this trust/company, how much is this entity worth and what kind of funds did this entity use to purchase the land in question?
Before Andrew answer anymore pertinent question mi waah fi see the PNP dem declare supn to. Then mi will be at Andrew throat fi more.
Make the request; it is as simple as that…
Mi nuh waah hear nutten more bout it til mi see some disclosure from the PNP. Dem a loose my vote little by little. There were so many issues during dem tenure that we the ppl beg fi more info all a now but dem a come chat bout transp…dem mumma. An a nuff f@ckery mi see a write pon ya n mi affi laugh im well connect with both party via family and unless unnu name Manley, patterson or simpson u cant chat to me. If u nuh name shearer, seaga or coke u cant chat to mi either. So unnu gwaan peddle bull crap. A true if mi talk dem ago know a who.
You notice the sh#t peddlers too? One a dem remind me a one woman who use to walk on Wednesdays and sell sprat and all when dem stink her regulars customers would buy just because she was the sprat seller :hammer
we need a debate!!!!