Nov 18 - Opposition to Press for Credit Finance Answers in Parliament
The Opposition will press the Government for details of the activities of Credit Finance Company Limited in Thursday’s Parliament session. All of the GSD’s oral questions will be centred around Credit Finance and the money invested in it by the Gibraltar Savings Bank.
Commenting on the matter Opposition Leader Daniel Feetham insisted that the Government, who pledged to be the most transparent in ‘our political history’ has thus far refused to answer questions on the company’s loans and investments ‘despite the fact that it is using £344 million of savers’ and taxpayers’ monies, backed up by a guarantee from the taxpayer’.
He added, ‘the Chief Minister has refused to answer questions about Credit Finance last month so we are concentrating on this issue and seeking detailed information from him. It cannot be right, and is not right, that £344 million is placed beyond the reach of Parliamentary scrutiny by simply incorporating a Government owned company and using it to provide loans and payments to third parties. The Opposition is going to continue to pursue this matter whatever attempts the Government makes to keep it secret.’
