David Edwards, president of the Greater Tunapuna Chamber of Commerce, said Government has offered an “election budget full of goodies.” In an initial response to the Finance Minister Larry Howai’s reading of the budget for the fiscal year 2014-2015, Edwards said the organisation was also thankful for amnesties provided to corporations for VAT and income tax.
He said, however, he was unsure from where the revenue for some of the proposed increases for several social programmes would come.
Saying the Tunapuna chamber still had to meet to discuss the budget, Edwards explained he was only offering a personal view on the $500 grant to low-income single mothers, which he thought would exacerbate the problem, and felt the measure needed more deliberation before its implementation. “Responsible family planning does not necessarily need government intervention,” he said.
Edwards also had no problem with the increase in the minimum wage from $12.50 to $15. He also was glad pensions had been increased, as he believed senior citizens really needed the support. The pension has increased by $500. Previously it was $3,000.
Edwards expressed concern about the increases in non-energy sector revenues versus that of the energy sector, saying while this demonstrated in theory that diversification was happening, he wondered whether this was in fact happening in reality. He thought the reduction in the deficit was also another positive step which showed the economy was still moving in the right direction.