In the wake of the 2025/2026 budget presentation, Dianne Joseph, President of the TT Coalition of Services Industries (TTCSI), emphasized the need for the government to prioritize implementation over mere promises. While applauding initiatives such as the removal of VAT on basic food items and the establishment of a $1 billion National Investment Fund Holding Company Ltd, Joseph cautioned that past governments have struggled with execution. She stressed that without the right teams and strategies in place, the budget’s ambitious goals may remain unfulfilled. Joseph highlighted ongoing issues with online business registration, noting that despite promises, many members still face bureaucratic hurdles. She called for accountability and strategic planning to ensure the budget’s success. The American Chamber of Commerce of TT (Amcham TT) and other business associations welcomed aspects of the budget, particularly enhancements to the Customs and Excise Division and potential reforms to the VAT system. However, they emphasized the importance of inter-agency coordination and the establishment of oversight mechanisms to ensure lasting impact. Kiran Singh, President of the San Fernando Chamber of Commerce, praised the reduction in super gas prices, which he said would benefit the MSME sector by reducing transportation costs. However, concerns were raised about proposed rental taxes and electrical surcharges, which could increase costs for landlords and tenants. The TT Chamber of Industry and Commerce also highlighted measures to boost non-energy exports, including investment in agriculture and the establishment of an Export Academy. Overall, while the budget has been well-received, business leaders are calling for effective implementation to translate promises into tangible benefits.
