Economist and former senator Taharqa Obika has delivered a scathing assessment of the United National Congress (UNC) administration’s inaugural $59.2 billion national budget, labeling it as “heavy in rhyme but hollow in economic reason.” Obika, who once served as a UNC senator before defecting to the People’s National Movement (PNM), criticized Finance Minister Davendranath Tancoo’s budget presentation for its lack of substantive economic direction despite its rhetorical flair. Speaking to Newsday via WhatsApp, Obika remarked that while Tancoo’s delivery was energetic and even poetic, it failed to address critical economic challenges. He argued that the budget missed the opportunity to establish a robust foundation for the country’s recovery over the next five years, leaving “gaping holes” in areas such as revenue generation, pension reform, and taxation policy. Obika, who holds an MBA in Finance and a BSc in Economics, highlighted the absence of concrete strategies to meet expenditure targets, particularly in revenue collection. He warned that the lack of detail could indicate the government’s inability to balance the books without resorting to devaluing the TT dollar. Obika also criticized the proposed replacement of the Value Added Tax (VAT) system with a sales tax, calling it “a mere statement rather than a well-developed policy intervention.” He cautioned that tampering with VAT, which accounts for over 10% of government spending, without a clear replacement plan is “fiscally reckless.” Additionally, he condemned the decision to raise the National Insurance System (NIS) pension age from 60 to 65, phased between 2028 and 2036, which he said would place undue strain on workers. Obika also predicted that the new landlord tax would lead to rent increases of at least 3.6%, further burdening citizens. He concluded that the budget, rather than inspiring confidence and guiding investment, “reads more like a poem than a plan.”