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.

Kamla: Economy dead under PNM

The econ­o­my has gone from be­ing on life sup­port to to­tal­ly dead un­der the Peo­ple’s Na­tion­al Move­ment.

This was how Op­po­si­tion Leader Kam­la Per­sad-Bisses­sar summed up Fi­nance Min­is­ter Colm Im­bert’s pre­sen­ta­tion on the Mid-Year Bud­get Re­view yes­ter­day in Par­lia­ment, adding he did not put for­ward any pol­i­cy or plans in place for the coun­try’s re­al de­vel­op­ment.

Finance Minister hits critics, commentators

Peren­ni­al­ly neg­a­tive com­men­ta­tors!

That’s how Fi­nance Min­is­ter Colm Im­bert dis­missed as­sort­ed com­ment on the econ­o­my dur­ing his Mid-Year Bud­get Re­view yes­ter­day.

De­tail­ing his de­fence of Gov­ern­ment’s eco­nom­ic man­age­ment via what he said was ac­tu­al da­ta, Im­bert main­tained T&T’s econ­o­my sus­tained three con­sec­u­tive quar­ters of growth in 2018

Young: Govt still negotiating Train 1

The Gov­ern­ment is still in ne­go­ti­a­tions con­cern­ing the fu­ture of At­lantic LNG Train 1, Min­is­ter of Com­mu­ni­ca­tions Stu­art Young said in Par­lia­ment on Monday.

The Port-of-Spain North/St Ann’s West MP said the Op­po­si­tion was us­ing the re­cent an­nounce­ment by BPTT con­cern­ing gas sup­ply to the Point Fortin plant, as a tool for fear mon­ger­ing.

“Yes, ob­vi­ous­ly this gov­ern­ment is go­ing to look at what hap­pens with Train 1.

There is no re­joic­ing, this gov­ern­ment is not hap­py about any set­back what­so­ev­er, in the en­er­gy sec­tor.

Not just one well fails to produce: BPTT to lose 15% of its production

BPTT’s pro­duc­tion will fall by up to 300 mil­lion stan­dard cu­bic feet per day in 2020 and 2021, ac­cord­ing to the en­er­gy ma­jor.

This is a 15 per cent drop in pro­duc­tion and con­flicts with the Mid-year Bud­get Re­view pre­sent­ed by Fi­nance Min­is­ter Colm Im­bert.

Im­bert tried to down­play the sig­nif­i­cance of the de­cline by say­ing he ex­pect­ed lit­tle im­pact on nat­ur­al gas pro­duc­tion.

Economist welcomes THA’s borrowing approval

The Gov­ern­ment’s move to fi­nal­ly grant ap­proval to the To­ba­go House of As­sem­bly (THA) to bor­row mon­ey on the lo­cal mar­ket to fi­nance To­ba­go’s de­vel­op­ment is “sat­is­fac­to­ry” says econ­o­mist Dr Vanus James.

James was re­act­ing to Fi­nance Min­is­ter Colm Im­bert’s 2019 Mid-year Bud­get Re­view, in Par­lia­ment on Mon­day, that the THA will soon be giv­en per­mis­sion to bor­row.

Imbert gives tax amnesty in feel-good review

Put your tax­es in or­der via Gov­ern­ment’s up­com­ing three-month tax amnesty, be­cause fu­ture amnesties are un­like­ly.

This was Fi­nance Min­is­ter Colm Im­bert’s warn­ing in his mid-year re­view yes­ter­day as he an­nounced the amnesty on all forms of tax­a­tion.

The mea­sure was the on­ly one an­nounced in Im­bert’s “good news” re­view, where he paint­ed a glow­ing pic­ture of the econ­o­my, gave as­sur­ances on re­cent con­cerns about BPTT’s gas sup­plies for At­lantic LNG’s Train One - and hit crit­ics and com­men­ta­tors.