Caption: Finance Minister Colm Imbert delivering the 2025 Budget. Photo: T&T Parliament
AZP News Commentary
By Alicia Chamely
BEFORE I dive into my commonsense thoughts on the 2025 National Budget: “Steadfast and Resolute: Forging Pathways to Prosperity”, there is something I desperately need to get off my chest.
Folks if the political leader/activist/conspiracy theorist/ sociopolitical guru, of your choice only calls on you to mobilise when there is a guaranteed heavy press presence, then you are probably being taken for a ride.
I am all for protesting and if you are dissatisfied with the government and the decisions they have made, then 100% hit the road, open your mouth and demand better. If your protests are loud enough, clear enough, and consistent, they will draw attention to your plight, they will be heard.
But if you show up outside of the Red House on the day of the reading of budget, after being prompted by your leader, with 12 different complaints, demanding the prime minister stepdown, you will be easily dismissed and not be taken seriously.
In the game of politics, behind the smiles and promises of everyone who says they care, there is most often a sharp dose of disingenuity. One must always be careful they are not being used as a pawn in the dirty race to the Red House.
Consistency, timing, right place, right time and clarity of concern… let your voices be yours and let them matter.
That being said…the 2025 National Budget, I was impressed, unimpressed and confused by some plans and policies outlined by our Minister of Finance Colm Imbert.
Let’s start with the good.
Imbert announced to introduce legislation to have all energy taxes paid to the government in US dollars.
He later explained at Trinidad and Tobago Manufacturers Association’s (TTMA) post-Budget Discussion, that currently T&T misses out on US$2 billion in tax revenue due to taxes being in paid in T&T, with energy companies changing their US outside of the governmental system.
Hot damn Colm! Way to impose some measures of taxation that no one can be vex about.
If you, an energy sector company, especially a multinational, are earning US on your exports, that come from our natural resources, you should be paying your tax in US. Hopefully once this legislation is passed, we will see more access to foreign exchange… if we don’t, there better be a good reason, and if there isn’t, then that’s a good reason to protest.
The unimpressive aspects of the budget are those that are equally confusing. Firstly, why are we going to buy more coast guard vessels? We cannot even maintain the ones we have! Did the Government really think that decision through? We haven’t gotten value for money on the ones we have already purchased, and you just going to jump and buy new ones?
It doesn’t make sense! And planes and drones! Who is pulling these ideas out of their…? I would fully support these purchases as an effective addition to our system of border security if we had a track record of maintaining and maximising the use of our security assets. Which we don’t!
Unless you, me and the mango tree can see a tangible plan that ensures all these new boats, planes and drones will be properly maintained and utilised in a manner that justifies their costs, along with a system that holds those in charge of these assets accountable if they all turn into rust buckets, then we might as well be flushing money down the drain.
Speaking of rust buckets, the same can be said of the decision to purchase more police vehicles. Again, the ones we have are abused, not maintained and are left to rot.
It’s a good thing that $91 million from property taxes came in.
What I would have liked to have seen is a greater allocation towards apprenticeship programmes and the development of public and private sector internship programmes. These would allow youth who are not academically inclined or those who would like to gain experience in various sectors, develop the skills and confidence needed to gain employment and make them less likely to be sucked into a life of crime.
Knowing that there are systems in place to help youth, especially those without any “connections,” get into the work force in meaningful way, will encourage them to investigate the tutoring programmes and vocational programmes offered by the government.
This not only creates a more empowered work force, but by giving these young people a leg up in life, you are keeping them off the streets… and, hence reducing crime.
The budget was not terrible, we are seeing growth, and we are seeing small steps towards diversification. People will complain, because I have long realised that no one will be happy with a national budget unless our MoF stands up and screams Oprah style, “You get a house! And you get a house! And no taxes for anyone!”
The Good and the Bad of Budget 2024/2025
Caption: Finance Minister Colm Imbert delivering the 2025 Budget. Photo: T&T Parliament
AZP News Commentary
BEFORE I dive into my commonsense thoughts on the 2025 National Budget: “Steadfast and Resolute: Forging Pathways to Prosperity”, there is something I desperately need to get off my chest.
Folks if the political leader/activist/conspiracy theorist/ sociopolitical guru, of your choice only calls on you to mobilise when there is a guaranteed heavy press presence, then you are probably being taken for a ride.
I am all for protesting and if you are dissatisfied with the government and the decisions they have made, then 100% hit the road, open your mouth and demand better. If your protests are loud enough, clear enough, and consistent, they will draw attention to your plight, they will be heard.
But if you show up outside of the Red House on the day of the reading of budget, after being prompted by your leader, with 12 different complaints, demanding the prime minister stepdown, you will be easily dismissed and not be taken seriously.
In the game of politics, behind the smiles and promises of everyone who says they care, there is most often a sharp dose of disingenuity. One must always be careful they are not being used as a pawn in the dirty race to the Red House.
Consistency, timing, right place, right time and clarity of concern… let your voices be yours and let them matter.
That being said…the 2025 National Budget, I was impressed, unimpressed and confused by some plans and policies outlined by our Minister of Finance Colm Imbert.
Let’s start with the good.
Imbert announced to introduce legislation to have all energy taxes paid to the government in US dollars.
He later explained at Trinidad and Tobago Manufacturers Association’s (TTMA) post-Budget Discussion, that currently T&T misses out on US$2 billion in tax revenue due to taxes being in paid in T&T, with energy companies changing their US outside of the governmental system.
Hot damn Colm! Way to impose some measures of taxation that no one can be vex about.
If you, an energy sector company, especially a multinational, are earning US on your exports, that come from our natural resources, you should be paying your tax in US. Hopefully once this legislation is passed, we will see more access to foreign exchange… if we don’t, there better be a good reason, and if there isn’t, then that’s a good reason to protest.
The unimpressive aspects of the budget are those that are equally confusing. Firstly, why are we going to buy more coast guard vessels? We cannot even maintain the ones we have! Did the Government really think that decision through? We haven’t gotten value for money on the ones we have already purchased, and you just going to jump and buy new ones?
It doesn’t make sense! And planes and drones! Who is pulling these ideas out of their…? I would fully support these purchases as an effective addition to our system of border security if we had a track
record of maintaining and maximising the use of our security assets. Which we don’t!
Unless you, me and the mango tree can see a tangible plan that ensures all these new boats, planes and drones will be properly maintained and utilised in a manner that justifies their costs, along with a system that holds those in charge of these assets accountable if they all turn into rust buckets, then we might as well be flushing money down the drain.
Speaking of rust buckets, the same can be said of the decision to purchase more police vehicles. Again, the ones we have are abused, not maintained and are left to rot.
It’s a good thing that $91 million from property taxes came in.
What I would have liked to have seen is a greater allocation towards apprenticeship programmes and the development of public and private sector internship programmes. These would allow youth who are not academically inclined or those who would like to gain experience in various sectors, develop the skills and confidence needed to gain employment and make them less likely to be sucked into a life of crime.
Knowing that there are systems in place to help youth, especially those without any “connections,” get into the work force in meaningful way, will encourage them to investigate the tutoring programmes and vocational programmes offered by the government.
This not only creates a more empowered work force, but by giving these young people a leg up in life, you are keeping them off the streets… and, hence reducing crime.
The budget was not terrible, we are seeing growth, and we are seeing small steps towards diversification. People will complain, because I have long realised that no one will be happy with a national budget unless our MoF stands up and screams Oprah style, “You get a house! And
you get a house! And no taxes for anyone!”