Prime Minister Declares Assets and Income to the Media
Prime Minister Andrew Holness has reportedly declared his assets, liabilities and income to the Integrity Commission.
The PM also reportedly invited some media houses to peruse all the relevant documentation.
According to Loop News:
Between September 3, 2007 to February 2016, Holness acquired assets of US$415,2026 and J$99.4 million coming to a grand total of approximately J$151,21 million by today’s exchange rate.
His net income was $83 million between September 3,2007 to February 25,2015.
Between September 3, 2007 to February 2016, his liabilities grew from $3,425,215 in 2007 to $34,409,227 to the present period in 2016.
With his assets initially centred in stock and investment securities, he moved into real estate, using his income to acquire properties. It appears that in almost the last nine years, the young Prime Minister’s income averaged a little over $10 million a year.
In that period, he declared to the Integrity Commission that his income consists of earnings from parliamentary service, property rental and investment income. The filings for 2007 shows he owned one property in Kingston 6 where he now lives, which was purchased for $7 million and financed by mortgage.
The year 2008’s filings reveals he bought two properties: an apartment for $16 million and a parcel of land for $15.25 million. In 2011’s filing he declared hat he had purchased another parcel of land for US$300,000.
The following year, 2012, Holness now in opposition declared he had deployed $7,99,534 towards construction of his Beverly Hills home and this increased to $43,553,862 by the end of 2013.
By the end of 2015, the cumulative amount spent by Holness on the construction of his Beverley Hills home came to $60, 290,082 which when added to the cost of the land means that the house – not yet completed – has cost the Prime Minister, at this point in time $86,210, 082 by today’s exchange rate.
The Integrity Commission is bears the responsibility of ensuring public officials file annual reports disclosing their assets, liabilities and income.
Source: Loop Jamaica
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