Financial Complex opening

Workmen putting the final touches to the Victor E Bruce Financial Complex in Scarborough, Tobago.
The controversial financial complex in downtown Scarborough will be officially opened on June 18 at a ceremony hosted by the Secretary of Finance and Enterprise Development Dr Anselm London.

THA Chief Secretary Orville London will cut the ribbon and unveil a plaque to commemorate the event. The building will be named the Victor E Bruce Financial Complex after the first local governor of the T&T Central Bank, Tobagonian Victor E Bruce.

The complex has been the talking point on political platforms of the Minority TOP for most of its five-year period of construction by H. Lewis Construction of Carapichaima in Central Trinidad. The project of which State owned UdeCOTT was the project manager cost approximately $103 million of which the Central Government’s contribution was $16.7 million.

Controversy arose two weeks ago over the handing over of the keys to the building by UdeCOTT’s line Minister of Housing Roodal Moonilal at a ceremony carded for June 1. However, Chief Secretary London and Finance Secretary Dr London stoutly objected claiming that it was a THA project for which UdeCOTT was paid a fee for its services. The ceremony was eventually cancelled.

The four storey complex will house all departments of the Finance and Enterprise Division and the Finance Ministry’s Inland Revenue Department from Monday.

Meanwhile Dr London will present the Assembly’s revenue and expenditure budget for fiscal 2013 at a special sitting of the House of Assembly on June 25 at 10 a.m. The debate on the budget will take place on June 28.

This will be the final budget in this session of the Assembly since elections must be held by the third week in May 2013.

The THA has until June 30 to submit its budget proposals to the Central Government for inclusion in the 2013 national budget.

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