Finance Minister Davendranath Tancoo has launched a scathing critique of the previous government’s handling of Caribbean Airlines Ltd (CAL), labeling it as ‘criminal negligence.’ During his 2025/2026 budget presentation in Parliament on October 13, Tancoo revealed that CAL had spent over $60 million on audits conducted by international firms Ernst & Young and PriceWaterhouseCoopers (PwC) but failed to submit any audited financial statements for nearly a decade. Despite this lack of transparency, the former finance minister repeatedly approved funding for CAL in 2017, 2018, 2019, and as recently as March 2025 to address operational pressures. Tancoo condemned this oversight, stating that the former administration turned a blind eye as CAL descended into inefficiency, non-compliance, and fiscal indiscipline. To address these issues, Tancoo announced the appointment of a new board tasked with making the tough decisions necessary to restore accountability and efficiency in the national airline. Additionally, the Ministry of Finance is updating the ‘obsolete’ State Enterprise Performance Monitoring Manual, replacing outdated frameworks with modern governance standards to ensure corporate governance, transparency, and value for taxpayers’ money.
标签： Trinidad and Tobago
特立尼达和多巴哥
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Tancoo reveals $59b budget, $3.8b deficit
On October 13, Trinidad and Tobago’s Finance Minister Davendranath Tancoo presented the national budget for the 2025-2026 fiscal year in the House of Representatives. The government has outlined a planned expenditure of $59.232 billion, based on projected oil prices of US$73.25 per barrel and natural gas prices of US$4.35 per mmbtu. However, current market prices stand at approximately US$60 for WTI crude, US$63.50 for Brent crude, and US$3.09 per mmbtu for natural gas, indicating potential revenue challenges. Minister Tancoo projected total revenues of $55.367 billion, resulting in a fiscal deficit of $3.865 billion, which equates to about 2% of the country’s GDP. This deficit remains within the internationally accepted benchmark of 3%. The budget prioritizes key sectors, with education and training receiving the largest allocation of $8.76 billion, followed by health ($8.21 billion), national security ($6.36 billion), public utilities ($3.39 billion), and infrastructure ($1.94 billion). Tancoo emphasized the government’s commitment to inclusive growth, stating, ‘When the UNC wins, everybody wins,’ and expressed pride in the budget’s figures.
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Men and breast cancer: breaking the silence
When breast cancer is mentioned, the conversation often centers on women. However, clinical oncologist Dr. Nazreen Bhim emphasizes that breast cancer can affect anyone with breast tissue—including men. Globally, male breast cancer accounts for less than one percent of all cases, but its impact is equally profound. In Trinidad and Tobago (TT), the numbers are similarly small, yet the challenges are significant. Dr. Bhim, who practices at Medical Associates Hospital, highlights that breast cancer is the leading cancer in TT, with male cases forming a minimal fraction of the total. Between 2015 and 2020, the national breast cancer incidence was around 75 per 100,000, with male cases making up less than one percent by international standards. Despite the low prevalence, male breast cancer presents unique challenges, including delayed diagnoses and societal stigma, making awareness crucial. Dr. Bhim, trained at the University of Cape Town and MD Anderson Cancer Center, specializes in advanced radiation therapies and palliative care. She explains that male breast cancer typically affects older men, with a median diagnosis age of 69. Symptoms often include a painless lump near the nipple, nipple retraction, or discharge. Genetic factors, particularly BRCA2 mutations, significantly increase the risk. Unlike women, male breast cancers are more often hormone-receptor positive and less likely to be triple-negative, a more aggressive form. Diagnosis involves mammography, ultrasound, and biopsy, with treatments mirroring those for women, including surgery, systemic therapy, and radiation. Dr. Bhim advocates for increased awareness, genetic testing for high-risk individuals, and rapid-access clinics to reduce diagnostic delays. She also stresses the importance of strengthening data collection to improve outcomes. While TT’s healthcare system has the core capabilities to manage male breast cancer, challenges like wait times and drug access persist. Early detection remains key, as most cases are treatable when caught early.
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Furillo Narine wants to end breast cancer stigma: ‘Men can get this too’
Furillo Narine, a 39-year-old from Couva, Trinidad, never imagined that a small lump in his chest would change his life forever. Initially dismissing it as insignificant, it was only after a playful moment with his son and his wife’s insistence that he sought medical advice. In August 2022, Narine was diagnosed with stage 2 breast cancer, a condition he didn’t believe could affect men. His disbelief turned to shock when the diagnosis escalated to stage 3A after the cancer spread to his lymph nodes. Undergoing surgery, chemotherapy, radiation, and hormone therapy, Narine’s battle was grueling. The emotional toll of losing his hair and a near-fatal sepsis episode during his final chemotherapy session marked the darkest moments of his journey. Yet, through it all, his wife Joanne Sinanansingh remained his pillar of strength. Post-recovery, Narine left his corporate career to start his own business, The Mac Man TT, focusing on online sales and tech support. More importantly, he prioritized his health and family, reclaiming precious moments with his loved ones. Narine now uses his story to raise awareness that breast cancer is not exclusive to women, urging men to seek medical attention if they notice unusual symptoms. His journey is a testament to resilience, love, and the importance of redefining life’s priorities.
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BIR & Customs to embark on recruitment drive
In a significant move to enhance tax collection and streamline government revenue, Trinidad and Tobago’s Finance Minister Davendranath Tancoo has announced a comprehensive hiring initiative for the Board of Inland Revenue (BIR) and the Customs and Excise Division (CED). The announcement was made during the presentation of the 2025/2026 national budget, with the aim of optimizing revenue collection and improving the ease of doing business.
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Tancoo: 0.25 % asset levy for banks, insurance companies
In a significant fiscal move, Trinidad and Tobago’s Finance Minister, Davendranath Tancoo, announced the introduction of a 0.25% asset levy on commercial banks and insurance companies operating in the country. The announcement was made during the presentation of the 2025/2026 national budget at the Red House on October 13. Minister Tancoo highlighted that these institutions, due to their substantial size, profitability, and strong asset bases, have consistently reported high earnings and liquidity ratios. He attributed these outcomes to conservative lending practices and favorable monetary conditions. However, he noted that the average citizen continues to face exorbitant fees and negligible returns on savings and investments. The proposed levy, which excludes institutions operating under the Special Economic Zones Act, is set to take effect on January 1, 2026, and is projected to generate approximately $575 million annually for the national revenue.
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Problem of politicising crime
In 2010, Debbie Jacob faced a pivotal moment in her career as an educator at the Youth Training Centre (YTC). Overwhelmed by the fear of failing her students—teenagers incarcerated for violent crimes—she sought advice from Sgt. Roger Alexander, now the Minister of Homeland Security. His encouragement to continue teaching proved invaluable. Jacob’s experiences, documented in her book *Wishing for Wings*, highlight the transformative power of education and the importance of societal acceptance for troubled youth. She emphasizes that many of her students lacked positive male role models and felt abandoned by society, factors that often led them into crime. Jacob’s work at YTC and later at Port of Spain (PoS) Prison revealed a recurring pattern: minors involved in crimes were frequently influenced by older, more experienced criminals. Despite this, Jacob argues that treating young offenders as adults is not the solution. She criticizes Minister Alexander’s stance on trying minors as adults, pointing out that such measures fail to address the root causes of crime. Jacob calls for a focus on social reform and education, rather than punitive measures, to break the cycle of crime. She believes that many young offenders are redeemable and that society must take responsibility for its failures in providing adequate support and guidance to at-risk youth.
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Caribbean cryptocurrency concerns
At a recent webinar on October 2, hosted by the Caribbean Digital Finance Alliance (CDFA), fintech professionals across the Caribbean convened to discuss the pressing issue of cryptocurrency regulation. The event, set to formally launch in November, was prompted by Trinidad and Tobago’s (TT) recent proposal to ban virtual assets, sparking a broader regional dialogue on the matter. Moderator Dennis Augustine emphasized that the discussion aimed to explore fundamental policy questions rather than critique specific legislation. He posed a critical question: Should the Caribbean adopt a cautious approach to virtual assets, or is outright prohibition the more prudent stance? Mark Pereira of ZLabs highlighted TT’s forex constraints, noting that the Central Bank’s opaque distribution of US dollars has led individuals to seek alternative methods, including cryptocurrency. Pereira advocated for regulated use of stablecoins to improve forex accessibility. Annie Bertrand of the CDFA underscored the influence of the Financial Action Task Force (FATF) in shaping regional financial compliance, while Prof Louis De Koker warned against the pitfalls of both pausing and banning virtual assets. Pereira proposed a public-private partnership framework, suggesting a regulatory sandbox to allow the Central Bank to test its systems. He emphasized that collaboration between the government and private sector could lead to a progressive virtual asset bill. De Koker echoed this sentiment, highlighting the private sector’s market insights as invaluable to regulators. With the global crypto market now valued at $4 trillion, the consensus was clear: all countries must adapt to this evolving financial landscape.
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Tancoo: Republic Bank board to be appointed
In a significant move to enhance economic fairness and regional representation, Finance Minister Davendranath Tancoo announced that the government will soon appoint a majority of directors at Republic Bank Ltd. This announcement was made during the presentation of the 2025/2026 national budget at the Red House on October 13. Minister Tancoo emphasized the government’s commitment to ensuring that Tobago’s interests are represented on the boards of major financial institutions, including Republic Bank Ltd, First Citizens Bank, and Eximbank. He proudly stated that each of these boards will include a Tobago union-based presence, reflecting the government’s dedication to regional inclusivity. Currently, Republic Bank Ltd’s board includes chairman Vincent Pereira, president and managing director Nigel Baptiste, and directors Trevor Gomez, Edward Ince, Jacqueline HC Quamina, Caroline Toni Sirju-Ramnarine, Kristine Thompson, and Gregory Thomson. Republic Bank Ltd is a subsidiary of Republic Financial Holdings Ltd (RFHL), which recently saw the resignation of two directors: Shameer Ronnie Mohammed on October 3 and Waltnel Sosa on October 7. This strategic move by the government aims to strengthen governance and ensure equitable representation across the nation’s financial sector.
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Cool It, Xclusive win in Big Ballers Football League
The Big Ballers Football League witnessed another thrilling round of matches on October 11, with Cool It FC and Xclusive FC delivering standout performances. Cool It FC continued their unbeaten streak with a hard-fought 1-0 victory over 1st Engineer Battalion at the Northeastern Regional Multipurpose Sporting Facility in Sangre Grande. The decisive moment came in the second half when Ryan ‘Frye’ Stewart showcased his brilliance with a perfectly executed free kick, securing the win and maintaining their reputation as the league’s most formidable defense.
Meanwhile, Xclusive FC bounced back from their previous defeat with an emphatic 5-1 triumph over Boys Town Strikers. Despite a competitive first half, Xclusive capitalized on a turnover to score the opening goal. Boys Town briefly equalized after the break, but Xclusive quickly regained control, netting three more goals in rapid succession to seal their dominance.
In other league action, Manzanilla Challengers Rebirth defeated Dream Team 3-1, with Jerry Williams, Josimar Belgrave, and Darkeil Ferreira finding the net. Seed of Greatness Biche also impressed, overpowering Eastern County 4-2 with an early goal surge led by Shirvin Charles, Derrick Ali, and Nicholas Lanes.
The league continues on October 17 and 18, with key matchups including Cool It FC vs Dream Team and Seed of Greatness vs Xclusive FC, promising more excitement for football enthusiasts.