分类： politics

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.

Tobago has been allocated a substantial $3.72 billion in the 2025-2026 national budget, a development hailed as a “step in the right direction” by Chief Secretary Farley Augustine of the Tobago House of Assembly (THA). Speaking after the budget was presented in the House of Representatives on Monday, Augustine emphasized that this allocation signifies that for every $100 spent on national development, $5 will be directed to Tobago. This marks a significant increase from previous budgets, where the highest allocation was $4.37. Augustine noted that the THA had requested 5.9% of the national budget in June, and while the current allocation falls slightly short at 5%, it reflects improved communication and cooperation with the central government. Augustine commended the government for its willingness to engage in dialogue, even in times of disagreement, and for considering Tobago’s needs in national policy. He described the allocation as a tangible demonstration of the central government’s commitment to Tobago’s development. THA Secretary of Finance, Trade, and the Economy, Petal Ann Roberts, expressed excitement about the budget, stating that it provides an opportunity to accelerate Tobago’s progress and transform it into “the greatest little island on the planet.” The allocation of $3.72 billion, close to the $3.71 billion requested in June, is expected to enable significant advancements in Tobago’s development, marking a new momentum for the island.

In a landmark decision, the Government of Trinidad and Tobago has allocated a historic $3.72 billion to Tobago for fiscal year 2026, marking the largest financial injection the island has ever received. The announcement was made by Finance Minister Davendranath Tancoo during the $59 billion budget presentation in the House of Representatives on October 13. This allocation fulfills the Tobago House of Assembly’s (THA) request of $3.71 billion, a stark contrast to previous years when the THA’s budgetary demands were consistently unmet under the former administration. In 2024, for instance, the THA requested $3.956 billion but received only $2.599 billion. Tancoo emphasized that the $2.96 billion allocated to the THA represents 5% of the national budget, with an additional $763 million earmarked for various ministries, bringing the total to $3.72 billion, or 6.3% of the national budget. The announcement was met with jubilation from Tobago East MP David Thomas and Tobago West MP Joel Sampson, who joined Government MPs in a spirited show of approval. The Tobago Chamber of Industry and Commerce expressed gratitude for the allocation, with President Curtis Williams highlighting the importance of transparent and efficient spending. Williams also welcomed plans for direct US-Tobago flights, the opening of the ANR Robinson International Airport’s new terminal, and the development of Marriott-brand hotels and the Elephant Tree project. However, he urged the THA to address existing financial challenges, such as unpaid vendors and contractors. Martin George, Chairman of the Tobago Business Chamber, remained cautiously optimistic, stressing the need for proper fiscal management to ensure Tobago’s economic growth.

The Ministry of Public Administration and Artificial Intelligence has officially inaugurated a new board of directors for the Telecommunications Authority of Trinidad and Tobago (TATT). The installation ceremony, held on October 10 in Port of Spain, marked a significant step in advancing the nation’s telecommunications and broadcasting sectors. The newly appointed board is led by Chairman Chris Seecharanm and Deputy Chairman Jerome Khan, alongside members Mentor Baptiste, Dr. Justin Koo, Avanti Supersad, Russel Romero, Suresh Boodoo, Dion Khan, and Danielle Pounder. Each member brings extensive expertise in telecommunications, law, entrepreneurship, and education, ensuring a diverse and capable leadership team. Minister Dominic Smith emphasized TATT’s critical role in ensuring equitable access to technological advancements for all citizens. He urged the board to focus on core regulatory functions, leverage artificial intelligence to enhance operations, and prioritize empathy in addressing citizens’ challenges. Drawing inspiration from Steve Jobs’ ‘signal versus noise’ theory, Smith encouraged the board to dedicate 80% of their efforts to purposeful execution while fostering innovation and agility. He stressed that technology must serve humanity, aligning with the government’s commitment to people-centered progress. TATT, as an independent regulatory body, is tasked with managing spectrum and numbering resources, setting service standards, promoting sector liberalization, and fostering investment to ensure nationwide access to reliable and affordable communications services. The ministry expressed confidence that the new board will uphold transparency, fairness, and excellence, driving innovation and sustainable growth in a sector vital to Trinidad and Tobago’s national development.

The 2025-2026 national budget, presented by Finance Minister Davendranath Tancoo, has been met with fierce criticism from the opposition People’s National Movement (PNM), who labeled it as ‘fake and fraudulent.’ Central to the controversy is the government’s decision to peg the budget to an oil price of US$73.25 per barrel and a natural gas price of US$4.35 per mmbtu, figures that have been deemed unrealistic by critics. Current market prices for WTI crude and Brent crude stand at approximately US$60 and US$63.50 per barrel, respectively, while natural gas is priced at US$3.09 per mmbtu. Former Finance Minister Colm Imbert accused the government of deliberately inflating revenue estimates to access funds from the Heritage and Stabilisation Fund (HSF), a claim Prime Minister Kamla Persad-Bissessar vehemently denied. Opposition Leader Pennelope Beckles criticized the budget for ‘giving with one hand and taking away with the other,’ citing increased taxes and insufficient measures to stimulate the economy. Former Energy Minister Stuart Young echoed these concerns, warning that higher electricity rates and taxes would ultimately burden citizens. The opposition also accused the government of neglecting critical issues such as crime and education, with Port of Spain East MP Keith Scotland questioning the logic behind policies aimed at increasing revenue through traffic fines. Despite the backlash, Tancoo defended the budget, asserting that the figures were realistic and based on a ‘basket price’ approach rather than individual crude benchmarks.

Public Service Association (PSA) President Felisha Thomas has announced the union’s goal to finalize public sector wage negotiations by Christmas, ensuring workers receive long-awaited payments. Speaking during a live Facebook media conference on October 14, Thomas addressed what she termed ‘misinformation from the Opposition’ regarding the recent ten per cent wage offer proposed by Finance Minister Davendranath Tancoo during the October 13 budget presentation. Thomas emphasized the PSA’s commitment to resolving negotiations swiftly, stating, ‘We are serious about your business. Our aim is to have your negotiation settled by Christmas so that your money will be in your pockets.’

Thomas criticized former Finance Ministry official Brian Manning for his public call for clarification on the government’s offer, urging him to ‘stay quiet, sit down, and stay out of public servants’ business.’ She accused the Opposition of spreading ‘lies’ to undermine the PSA’s recent achievements on behalf of civil servants, statutory authority workers, and Tobago House of Assembly (THA) employees. Thomas referenced a May 19, 2022, memorandum of agreement from the chief personnel officer (CPO), highlighting past wage proposals under the previous government, which she described as ‘disrespectful.’

She condemned the Opposition’s claims of a nine per cent offer during the same period, calling it an attempt to minimize the PSA’s victories. Thomas also recalled the previous government’s decision to refer the matter to a special tribunal, which she viewed as an effort to impose an inadequate four per cent wage increase. She praised civil servants as ‘the backbone of this nation,’ crediting them for sustaining the country during the COVID-19 pandemic. Thomas hailed the revised ten per cent offer as a turning point, restoring dignity to the negotiation process and marking a victory for workers.

Thomas confirmed that the CPO has acknowledged the PSA’s request to meet, and the union awaits a formal response to begin talks. She urged workers to rely solely on the PSA for accurate information on negotiations, warning against the Opposition’s attempts to ‘create mischief.’ During the budget presentation, Tancoo confirmed that Prime Minister Kamla Persad-Bissessar SC had instructed the CPO to submit the revised offer covering the periods 2014-2016 and 2017-2019 for civil servants, statutory authorities, and THA employees.