budget

Kamla: Budget was the final rites to bury the economy

While Op­po­si­tion Leader Kam­la Per­sad-Bisses­sar yes­ter­day ex­pressed de­light with Fi­nance Min­is­ter Colm Im­bert’s pro­pos­al to in­crease the min­i­mum wage from $15 to $17.50 an hour for 194,000 low in­come work­ers across the coun­try, she feels the pay hike was in­suf­fi­cient as it should have been $20 an hour in­stead.

This was how Per­sad-Bisses­sar re­spond­ed at a press con­fer­ence at the Par­lia­ment Build­ing, Port-of-Spain, min­utes af­ter Im­bert de­liv­ered his $53 bil­lion 2019/20120 bud­get pre­sen­ta­tion in the House of Rep­re­sen­ta­tives.

Sweetheart Package - Highlights of 2020 Budget

Finance Minister Colm Imbert read the 2020 Budget in the House of Representatives Monday.

The theme of the 2020 Budget was 'Stability, Strength and Growth'.

The Minister announced an estimated revenue of $47.749 billion and total expenditure of $53.036 billion, resulting in a fiscal deficit of $5.287 billion.

The budget was based on a projected oil price of US$60 and a gas price of US$3 per MMBtu.

Opposition, experts expect ‘election’ goodies in budget

Ex­pect an ‘elec­tion’ Bud­get when Min­is­ter of Fi­nance Colm Im­bert de­liv­ers the 2020 Bud­get on Mon­day, Oc­to­ber 7, so said the ex­perts as well as the Op­po­si­tion.

The pro­jec­tions came yes­ter­day af­ter Im­bert an­nounced the bud­get’s de­liv­ery date dur­ing a brief state­ment in Par­lia­ment yes­ter­day.

Duke gives budget a failing grade

The To­ba­go House of As­sem­bly’s (THA) Mi­nor­i­ty Coun­cil says the THA’s draft es­ti­mates for rev­enue and ex­pen­di­ture for fis­cal 2020 pre­sent­ed by Fi­nance and Econ­o­my Sec­re­tary Joel Jack yes­ter­day are “a colos­sal fail­ure.”

In an im­me­di­ate re­ac­tion just af­ter Jack pre­sent­ed the over two-hour long $4.72 bil­lion bud­get, Mi­nor­i­ty Leader Wat­son Duke gave the bud­get a fail­ing grade.

Driver: Gas shortfall could affect growth

The fate of T&T’s con­tin­ued eco­nom­ic growth could be par­tial­ly hinged on the suc­cess of BPTT and At­lantic find­ing a so­lu­tion to the short­fall in gas sup­ply that is pro­ject­ed in 2020/2021, as fail­ure could hurt the coun­try’s rev­enue stream.

Asked about the worst-case sce­nario fol­low­ing BPTT’s re­cent dis­ap­point­ing drilling at two in­fill wells yes­ter­day, En­er­gy Cham­ber CEO Dr Thack­wray Dri­ver told Guardian Me­dia that it could lead to At­lantic’s Train 1 be­ing moth­balled.

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