The 2025-2026 national budget, titled “T&T First: Building Economic Fairness through Accountable Fiscal Policies,” presented by Finance Minister Davendranath Tancoo and the United National Congress (UNC) government, has garnered widespread acclaim for its bold and people-centric approach. The budget strikes a balance between fiscal discipline and compassionate governance, focusing on restoring public confidence, rebuilding institutions, and safeguarding citizens through strategic social investments. Within just 150 days, the government has taken decisive steps, including justice for former Caroni workers, the revival of the Couva Children’s Hospital, and reducing the price of super gas, alongside modernising key agencies like the Inland Revenue Division and Customs and Excise Division. These initiatives underscore a commitment to transparent governance and sound economic management. The budget also emphasises diversification in agriculture, manufacturing, tourism, and renewable energy, paving the way for a more resilient economy. Additionally, measures to protect the elderly, youth, and vulnerable populations, coupled with modernising healthcare, infrastructure, and digital services, reflect a holistic vision for national development. However, the writer proposes regularising Venezuelan migrants as a strategic move to transform a humanitarian challenge into an economic opportunity. Granting legal work status would expand the tax base, increase national insurance contributions, and formalise informal jobs, benefiting both local and migrant workers. This approach could stimulate consumer spending, support small businesses, and inject new skills into critical industries like agriculture, construction, and hospitality. Drawing inspiration from countries like Colombia and Costa Rica, which have successfully integrated migrant workers into their formal economies, Trinidad and Tobago has the opportunity to strengthen its economy while upholding its tradition of compassion and regional solidarity. The budget is not merely a financial plan but a blueprint for hope, accountability, inclusion, and transformation.
