Princes Town MP Barry Padarath who is the opposition’s shadow minister for the Ministry of Youth Development says this year’s budget “should focus on youth development with respect to job creation, incentives for small business development and creating sustainable opportunities for young people.”
In a press release issued this afternoon, Padarath said that “the government’s budget presentation must address measures to stimulate growth for small businesses as well as measures to assist them in cushioning the effects of the pandemic.” The following is a press release from the office of the MP:
Princes Town MP, Barry Padarath is calling on the government to place focus on youth and small business development ahead of the 2022 budget.
Padarath who is the Opposition shadow Minister for the Ministry of Youth Development and National Service indicated that he wished for the government to place a focus on youth development with respect to job creation, incentives for small business development and creating sustainable opportunities for young people especially at a time when the pandemic has placed an additional burden and stumbling block in the way of the livelihoods and careers of many young people.
The MP further added that the Ministry of Youth Development and National Service needs to forge greater links with youth and business organizations to understand and address the challenges faced by young people in the world of work.
Additionally Padarath has called on the Ministry of Trade and Industry to indicate what steps have been taken ahead of the 2022 budget presentation to improve the ease of doing business in Trinidad and Tobago.
Padarath pointed out that in the past few years, despite the assurance from the Minister of Trade and Industry that the ease of doing business would get better under her tenure, it has gotten progressively worse. Therefore, this has been a major contributor to the destruction of small business development in the country affecting mostly young people.
Padarath indicated that the government’s budget presentation must address measures to stimulate growth for small businesses as well as measures to assist them in cushioning the effects of the pandemic. He added that all we have heard from the government is ways in which they intend to provide handouts when young people and small businesses are actually looking for a meaningful and long term solutions such as stimulus packages, incentives, vat returns and investments.
He stated that if government fails once more to address these matters with a focus on young people and small businesses, then the country would continue to see many young people looking for opportunities abroad and the closure of more small businesses.
Padarath said that recently the Minister of Trade disputed that thousands of businesses in the country closed down and called on the Minister to indicate how much of the 300M loan facility announced by the government has been accessed by small businesses to assist in their survival.