Former Energy Minister Stuart Young has sharply criticized the 2025/2026 budget presented by Finance Minister Davendranath Tancoo, labeling it as a ‘smoke and mirrors’ strategy. Young expressed concerns over the government’s potential raid on the Heritage and Stabilisation Fund to cover revenue shortfalls. The $59.232 billion budget, announced on October 13, is projected to fall short by $3.865 billion in revenue. Key measures include a $1 per litre reduction in super gasoline prices, a revised 10% salary increase for public servants, an electricity surcharge for commercial and industrial customers, a landlord tax, and an asset levy on banks and insurance companies. Young, in a Facebook post on October 14, supported the gasoline price cut but condemned the budget as ‘populist’ and warned of rising inflation and job losses. He questioned the government’s optimistic oil price projection of US$73.25 per barrel, which is 40% higher than global forecasts, and predicted serious revenue shortfalls. Young also criticized the lack of new energy initiatives, the closure of employment programs like URP and CEPEP, and the potential economic impact of new taxes on banks, insurance companies, and landlords, which he argued would lead to higher costs for consumers. Additionally, he raised concerns about the government’s plan to appoint majority directors at Republic Bank, warning against interference in critical financial institutions.