Clarification on Peter Phillips’ US assets
THE EDITOR, Madam:
This is with reference to the article in Sunday Gleaner of October 18, 2020 headlined “Peter Phillips’ US assets plunge”, which derives comparison of the securities denoted in the US$ segment of the published summaries of my husband’s declarations for the years ending 2018 and 2019.
The article, however, does not present a comparison of the securities denoted in the Jamaican Dollar segment of those published summaries. Had he done so, it would show that the amount of the reduction in the US Dollar securities figure is offset by the corresponding increase in the Jamaican Dollar securities figure. In other words, the difference is one of currency, not value.
1. There is no difference in how the securities are held (the relevant institution having, this year, merely confirmed the value in Jamaican Dollars); and
2. The Integrity Commission’s published summaries do not show a reduction from 2018 in our overall financial position for the year ended 2019.