The leader of the opposition asked some questions of me. Attached are the answers.
Q1. Dr Phillips, as a parliamentarian earning practically the same salary as the leader of the opposition, how did you afford the house you currently live in, which is valued at multiple times your salary?
A: My house was purchased by me and my wife (a practising attorney-at-law) on the open market on June 21, 1991, for J$1,500,000 with mortgage funding from Victoria Mutual Building Society, repayable over 20 years and repaid via monthly payments over that period in accordance with the mortgage terms.
Q2. Were you part of the Cabinet of Jamaica which created FINSAC and which took away the property of many hard-working Jamaicans and decimated the entrepreneurial class?
A: FINSAC Limited was incorporated on January 29, 1997, by the PNP administration, of which I was a part, to rescue the savings of many thousands of ordinary Jamaican depositors and policy holders whose savings were loaned by those institutions to entrepreneurs (borrowers) who were unable, unwilling, or forgot to repay the money they had borrowed. That rescue was funded with taxpayers’ money, which expenditure was recouped by realising the property voluntarily mortgaged by the borrowers to the institutions as security for the money they borrowed.
Q3. 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?
A: No.
Q4. Did any members of the Cabinet that created FINSAC acquire properties taken over by FINSAC?
A: I am unable to speak for individual members of the Cabinet of the day but expect that each individual is able to speak for himself or herself.
Q5. Do the answers to questions 2, 3, and 4 explain your unwillingness to complete and release the FINSAC report?
A: It is the FINSAC commissioners, not me, who are to complete the report (having already been paid millions for their services). They have not done so, or, if they have, they have not sent it to me. I am not withholding the FINSAC report from release. I cannot release something I have not received.
Q6. Do you own or have any beneficial interest in a house in Beverly Hills?
A: No.
Q7. Are there members of the Cabinet who have offshore companies?
A: I do not have one. I have no knowledge of whether any other Cabinet member has one. They can speak for themselves.
Q8. Will you declare any assets you have overseas.
A: I have no assets overseas, and all my assets (and the assets of my spouse) have been declared annually in accordance with the law since 1989.
Q9. Will the officers of the PNP, including you, testify and come clean about Trafigura?
A: I have not been asked to testify. I believe that those who do testify will do so truthfully.
– Peter D. Phillips
Wap wapppp
FACT CHECK PLEASE!!!!!
This proves Andrew holness is totally not ready to be the PM! Look how easy the man bat whey him foolishness!!
you have got to be the most gullible person. you just accept what the man say as gospel, when the pnp and its child FINSAC are responsible for the state of the jamaican economy. you know how many businesses were destroyed? how many persons lost their homes and life savings? before you jump on the pnp wagon open your eyes before you applaud the ramblings a man who was in partly in charge during what was a very corrupt period in jamaican history
Before you start calling people gullible. The PNP (or its child LOL) had nothing to do with businesses being destroyed, people losing their homes, etc. It also had nothing to do with high interest rate. The sum it up succinctly, it was the greedy bankers who loan out their depositors money recklessly (sometime to their business friends without collateral), built large corporate offices, hotels and other entities without proper due diligence.
That is why that Pink Elephant is still perching on top of the Hill up Constant Spring road and no one knows what to do with it. I could school you on the whole FINSAC, but it would be a wasted effort…yuh head tuff.
This gamesmanship thing is crazy. Look how Andrew Holiness all the man fi come back and crush him. With the exception of Peter’s answer to question five, I am pleased with his response.
Why isn’t the government not pressuring the FINSAC commissioners to furnish the requisite report–especially given the fact that he or she has already been paid?
Other than Question five, the Rastaman, hit the questions for 6 runs. Do the ones know that Peter Phillips was a practicing Rastaman back in the day?
Immaculate answers!!! Now what did Andrew expected to hear or better yet gain? This was so uncalled for and unecessary! This is PETER PHILLIPS! Andrew seem to forget! Unlike Andrew his and on how he aquired his house is and still a mystery cuz a pure loop holes in his answers!!!
Very true!
This is what the U.S embassy had to say about Peter Phillips…¶9. (C) Comment: Phillips can be both incredibly brilliant and devious when it suits his purposes and his comments against MacMillan and Golding should to be taken in context. It is troubling, however, that he accepted without protest the notion of the “Haitinization” of Jamaica, something that most Jamaicans would dismiss as a highly insulting and unlikely comparison.
Andrew should have done his homework before asking Peter Phillips those question….had he done his homework he would have found out that of all the politicians Peter Phillips is the cleanest of them all
Peter Phillips is so clean so why him not the prime minister of Jamaica ..painp dem need to go and take several seats and stand up to a debate painp cabnet is all dunce
If they are all dunce AS U SAY how is it that they executed an impressive debate then? LISA, PRYCE AND ROBINSON?? JLP team with MALAHOO LEFT LIKE WOUNDED DOGS! PERTER PHILLIPS IS NOT PM MATERIAL! THE SAME LIKE HOW JLP SUPPORTERS DDNT WANT AUDLEY SHAW!