While Opposition Leader Kamla Persad-Bissessar yesterday expressed delight with Finance Minister Colm Imbert’s proposal to increase the minimum wage from $15 to $17.50 an hour for 194,000 low income workers across the country, she feels the pay hike was insufficient as it should have been $20 an hour instead.
This was how Persad-Bissessar responded at a press conference at the Parliament Building, Port-of-Spain, minutes after Imbert delivered his $53 billion 2019/20120 budget presentation in the House of Representatives.
Finance Minister Colm Imbert read the 2020 Budget in the House of Representatives Monday.
The theme of the 2020 Budget was 'Stability, Strength and Growth'.
The Minister announced an estimated revenue of $47.749 billion and total expenditure of $53.036 billion, resulting in a fiscal deficit of $5.287 billion.
The budget was based on a projected oil price of US$60 and a gas price of US$3 per MMBtu.
Expect an ‘election’ Budget when Minister of Finance Colm Imbert delivers the 2020 Budget on Monday, October 7, so said the experts as well as the Opposition.
The projections came yesterday after Imbert announced the budget’s delivery date during a brief statement in Parliament yesterday.
Minister of Finance and MP for Diego Martin North/ East Colm Imbert has announced that budget day is Monday 7th October.
As the sitting of Parliament resumed today, the AG made the announcement that the 2018/2019 budget will be read on that day.
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.
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.