Finance Minister Larry Howai says approximately $1 billion is to be expended on vulnerable young people. The disclosure was made following the mid-year budget review consultative meetings with the Bankers Association of Trinidad & Tobago, the Institute of Chartered Accountants of Trinidad & Tobago and the Association of Trinidad & Tobago Insurance Companies last week.
The minister assured stakeholders that the Government viewed the expenditure on vulnerable youth as an investment in sustainability, a view which gained broad agreement. A statement from Howai’s ministry said the meetings were part of a series of mid-year budget review meetings with stakeholders from the business and energy chambers, youth and women organisations, the Tobago House of Assembly, hotel and tourism stakeholders, as well as insurance, finance and banking and the labour movement.
“In response to concerns over youth and young adults who were graduating from the secondary school system without full certificates, Minister Howai said provisions through technical and vocational programmes, as well as apprenticeship training, community building and life-skills programmes and the Workforce Assessment Centres have been modified to ensure that no young person is left behind,” the statement said.
Howai said the meetings were to ensure that fiscal measures brought in the 2013 budget were having the intended impact and also to ensure that the Government maintained a good appreciation of the evolving needs of the major stakeholders in the economy.