Opposition spokesman questions why Finance Minister did not reveal possibility of SSL receiving insurance payout

Opposition Spokesman on Finance, Julian Robinson says he is a little astounded that Finance Minister Dr. Nigel Clarke had not revealed the possibility of fraud-hit Stocks and Securities Limited (SSL) receiving an insurance payout.

Dr. Clarke announced yesterday (September 19) that the company was in receipt of US$1 million, following the settlement of an insurance claim made by its temporary manager in April of this year to SSL’s insurers in England.

According to Dr. Clarke, the payout means that it is no longer necessary for the Government to provide support for the salaries of SSL’s staff.

The burden on taxpayers would have amounted to an estimated $15 million monthly. The revelation had sparked public concern.

However, with the news of the payout, Mr. Robinson queried why Dr. Clarke did not alert the public that an insurance claim could have been settled.

Despite being relieved that Jamaicans are no longer required to foot SSL’s staff salary bill, Mr. Robinson said more questions must be answered.


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