Government’s mid-year review statement will be delivered next week Wednesday, Finance Minister Colm Imbert revealed yesterday.
Imbert confirmed the date in reply to a T&T Guardian query following yesterday’s post-Cabinet media conference.
He’d said last month the review would have been in the first half of May. The People’s National Movement (PNM) Government has, since its first budget, had a review of the budget six months after presentation. Its last budget was in October 2016.
The review is done to give an account of the financial situation, state any changes to the last budget and make any announcements needed concerning fiscal or other measures, including any new ones.
Opposition MP Dr Bhoe Tewarie has said the public would expect Imbert to give facts on T&T’s finances and the state of the economy, as well as the extent of loan contracts entered into. He also called for Imbert to list specific projects initiated for this budgetary cycle and how they will be paid for.
Tewarie added, “There should also be some hint on where the minister is heading with the 2018 budget. He should account on what’s been achieved so far in the 2017 budget and what’s likely to be achieved by the end of this budget cycle.”
In view of T&T’s current tight economic situation, Opposition MP Rudy Indarsingh also said Government’s review must obviously inform the country of the up to date official number of those who have been retrenched and lost jobs in T&T.
“With continuing job losses, Government’s review must come clean on the current figure,” Indarsingh added.
“In tandem with that, Mr Imbert must say what is Government’s plan to create employment and any proposed legislative amendments to offer people a softer landing following job loss, such as amending the Retrenchment And Severance Benefits Act and possibly creation of an Unemployment Insurance Fund.”
