The political leader of the Congress of the People says Monday’s budget failed to address urgent measures needed to transform the country's economy.
According to Carolyn Seepersad-Bachan, the fiscal measures announced only appear to achieve short term political gains, as opposed to sustainable development.
She said the government's macroeconomic position was out of sync with reality.
The Trinidad and Tobago Coalition of Services Industries (TTCSI) is calling for more details on Government's proposed interest bearing bonds for registered VAT businesses to meet arrears.
On Monday, the Finance Minister said as a solution to settle $4.5 billion in VAT refunds owed to businessmen, Government is offering $3 billion bonds for a period of five years, with an interest rate of 1.5 percent per annum.
[ARANGUEZ, October 10] — Following a preliminary review of the 2019/20 budget statement, the Employers’ Consultative Association of Trinidad and Tobago (ECA) sees this as a reasonable attempt to assuage the relative impact that successive austerity measures may have had on the country, given the recent trends associated with oil and gas prices over the last five (5) years and its relative impact on our country’s ability to earn related revenue.