Bunting recants - Apologises to Shaw
published: Thursday | May 22, 2008

Edmond Campbell, Senior News Coordinator

Bunting

PETER BUNTING, Member of Parliament for Central Manchester, yesterday retracted statements he made last week accusing Finance and the Public Service Minister Audley Shaw of misleading the House with his claims about a so-called "sweetheart deal".

In a statement to the House, Bunting said there was a "misunderstanding on my part as to the transaction the minister was referring to".

In that regard, the People's National Party (PNP) general secretary said he was withdrawing his earlier claims that "no such transaction occurred", and that the minister had misled the House.

Bunting told his colleagues he regretted any confusion his pronouncements had caused, adding that he had not intentionally set out to mislead the House.

Earlier this month, lines were drawn when Bunting rebuffed Shaw's claims that the company he previously chaired was involved in a sweetheart deal with the former PNP government. At that time, he said Shaw had breached the Standing Orders of the House and demanded he withdraw his remarks or face sanctions.

Documentary evidence

However, Shaw returned to the House with documentary evidence of the transaction between DB&G and the then government.

In attempting to explain the misunderstanding yesterday, Bunting said: "The minister's words were fairly interpreted by me as referring to the outright sale by FINSAC (Financial Sector Adjustment Company Limited) of its residual share of the collections from the bad loan portfolio administered by the Jamaica Redevelopment Foundation (JRF)."

Both MPs had earlier accused each other of misleading the House, an offence that could attract sanctions from the Privileges Committee of Parliament.

But a motion was moved in the House on Tuesday, which paved the way for the neighbouring MPs to resolve the row on the floor of Parliament, without having to refer the matter to the Privileges Committee.

Sweetheart deals

Shaw

In closing the Budget Debate last month, Shaw charged that Bunting had benefited from sweetheart deals in the sale of assets acquired by FINSAC.

Yesterday, Bunting said the transaction which occurred was a short-term financing arrangement which showed full repayment of US$29.6 million by the Ministry of Finance to DB&G within 120 days.

However, the Central Manchester MP made it clear he believed the transaction with the previous administration was above board.

"Further evidence that the receivables were not sold to DB&G is the fact that FINSAC retains, to this day, ownership of its share of the bad loan portfolio, administered by the Jamaica Redevelopment Foundation," Bunting said.

Government MP Everald Warmington rejected the manner in which Bunting withdrew the statement, arguing that the MP should apologise to all the members for misleading the House.

However, in intervening, Andrew Gallimore, acting leader of Government business, said Shaw, Bunting and House Speaker Delroy Chuck had agreed the withdrawal would signal an end to the matter.

He said the members should therefore respect the agreement reached between the parties concerned, and the motion was passed with Warmington's dissent.