标签： Trinidad and Tobago

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.

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 United National Congress (UNC) government, led by Finance Minister Davendranath Tancoo, presented its inaugural national budget for 2025-2026, striking a balance between relief measures and revenue-generating policies. The budget, delivered in the House of Representatives on October 13, 2025, was framed as a ‘give and take’ fiscal package aimed at fulfilling election promises while addressing economic challenges. Key highlights include a $1 per litre reduction in super gasoline prices, a 10% wage increase for public servants, and the removal of VAT on essential food items—measures designed to ease the financial burden on citizens. However, the government also introduced new levies, such as increased customs duties on alcohol and tobacco, a 3% hike in National Insurance System (NIS) contributions, and a landlord surcharge, targeting big businesses and commercial entities. Tancoo emphasized that the budget reflects the UNC’s commitment to ‘putting the people of Trinidad and Tobago first,’ with a projected expenditure of $59.232 billion and revenue of $55.367 billion, resulting in a $3.865 billion deficit. The budget also allocated significant funds to Tobago ($3.724 billion) and prioritized sectors like education ($8.766 billion), health ($8.214 billion), and national security ($6.366 billion). Additionally, Prime Minister Kamla Persad-Bissessar will oversee a newly established Financial Oversight & Appropriations Committee (FOAC) to ensure transparent management of state resources. The budget debate is set to begin on October 17, with Opposition Leader Pennelope Beckles expected to respond.

Prime Minister Kamla Persad-Bissessar emphasized fairness and equality as the cornerstone of her UNC government’s 2025-2026 budget during a press briefing at the Red House rotunda on October 13. The fiscal package, presented by Finance Minister Davendranath Tancoo, introduced several measures aimed at rebalancing economic disparities and ensuring accountability. Among the key announcements was a 0.25% levy on the assets of banks and insurance companies, alongside a landlord business surcharge targeting undeclared rental properties. Persad-Bissessar clarified that the surcharge was not a property tax but a mechanism to protect both landlords and tenants while boosting public revenue. She also highlighted a reduction in the price of super gasoline by $1 per liter, which she estimated would save consumers $500,000 annually. Additionally, the removal of VAT on agricultural inputs was framed as a move to empower farmers. The Prime Minister contrasted her government’s $3 billion budget deficit with the former PNM administration’s $16-$18 billion deficits over a decade, attributing the improvement to diligent management. Other measures included a 3% increase in National Insurance Scheme (NIS) contributions, expected to raise the National Insurance Board’s annual collections by 23%. Persad-Bissessar also addressed the dire state of the NIS, warning that without immediate action, funds for pensions and benefits would soon be depleted. She praised Tancoo’s allocation of $2.96 billion for the Tobago House of Assembly’s development plan, which represents 5% of the national budget, and an additional $763 million through various ministries, bringing Tobago’s total allocation to $3.7 billion. In response to a reporter’s question, the PM identified 8,000 public sector vacancies, promising better job opportunities.