Last Updated on June 16, 2021, 5:57 AM AST by Anthony Morris
Trinidad and Tobago: Finance Minister Colm Imbert continues to engage in statistical deception at the expense of citizens of our nation. That is the view of MP for Oropouche West Dave Tancoo commenting on today’s press conference held by the Minister of Finance titled “Financial Matters and Covid-19 Relief Programmes.”
Incredibly, the Minister boasted that the economy had stabilised, even as he admitted to have not spent billions allocated in the last budget and with revenues having fallen by over $3 billion to date. With regional corporations and many government agencies underfunded and unable to pay their bills, and the closure of hundreds of businesses, some permanently, it is obvious that this is a statistical illusion. In the same breath that Minister Imbert boasted about having decreased government expenditure he also admitted increasing expenditure by $3 billion in the supplementary variation approved last week.
Once again, the Minister of Finance failed to provide any hope to individuals and businesses in urgent need of support. There was no update on initiatives promised in Budget 2021, including promises to engage financial institutions to provide relief to persons and businesses with outstanding loans, who would have found themselves in great difficulty when government shut down the economy.
After more than one year, Minister Imbert again failed to provide any specific details regarding desperately needed initiatives including rental support or assistance to construction workers and bar owners, or even specifics about urgently needed support to micro, small and medium sized business.
MP Tancoo noted in the last Budget, the Minister of Finance allocated $200 million to his own Ministry for the provision of Covid19 relief to Households. Of this sum, the Minister has provided $10 million to ecclesiastical bodies and $40 million to be used for an Income Support Grant at the Ministry of Social Development. The Oropouche West MP noted that while our citizens are being buried under social and financial crises as a result of government policy, it is shocking that Minister Imbert has refused to spend any of the remaining $150 million sitting in his Ministry, despite the fact that it was already approved by the Parliament for Covid-19 relief.
Further, there is an additional $443 million allocated for creation of fiscal incentives to farmers which the Minister has refused to spend despite the known challenges of the agricultural sector.
With almost $600 million already approved for spending being held in the Minister of Finance’s hand, there is absolutely no reason for citizens to be forced into the crisis of poverty so many are facing today.
MP Tancoo said “I believe that the government is fully aware of the level of desperation that citizens are facing in providing food for their families. As such, this calculated strategic policy of impoverishing the lower and middle income segments of the population while claiming economic stability, is a deliberate deception.
Anthony Morris covers stories related to politics and regional developments. His in-depth reporting about governance and reforms makes him stand out in regional journalism, with a deep analysis of political trends and their impact on Caribbean communities.
