What is the PNM's plan for the economy?

[Dizzy28]

the question is where in the excess going? Liquidity is dropping whist the same is happening with loan rates which suggests that liquidity is not being mopped up by loan portfolios, so is it that ppl are investing their own cash into whatever they're doing now? That would make sense in the current climate where cash is king and there is a lot of wiggle room on prices when you come with cash esp in the upper end of the real estate market

The liquidity has gone into to purchase of US $ whenever CBTT injects into the system. There has been no increase in loans for productive purposes.

When US$ has been purchased in it largely for imports of consumable goods.

[Redman]

overall, generally, its the same thing being said there, with a noticeable point being that they have to cut some salaries. in this country, they raising taxes and cutting back on social systems, gate, cdap, school books etc. all in all, is tighten your belt, and gears up to look for a wuk.

Whose salaries got cut??

The Nigerians, they said they cut a lot of public service jobs.
Here, we got some oil/gas jobs cut.

Good thing is the inflation is steady and at a low rate. Thing is, I don't see it reflected in the real world.

Depends on what inputs they use for their statistics.

Like Unemployment the formulas can be changed under the same headline number....so 'Average' selling price of X... the formula can be changed from Simple to Weighted.
Expressed as a numeric value
Each tells a story and can be mis used if the user is unaware.

http://www.shadowstats.com/alternate_da ... ent-charts

So IMHO its probable that the inflation rate was massaged a while back.
Like the other stats that are political headliners but make no sense

The Rate of Inflation has been declining-does this match with what we see in the real market?

Its like saying you have your grand fathers Axe...cept your father changed the handle...and you changed the Head.

[dude2014]

An ecconomist was making the point that improvement in the ecconomy will come from collective efforts of individuals. That is Ketch hell as The PNM does not have a clue. I am still awaiting a proper plan.

My plan is to make sure my chain link wire fence has seim carille bodi and the backyard has Baigan, Hot peppers podena tomatoes etc.

Will be trying out some aloo onion garlic. A certain relative very mischieviously commented on 'my aloo idea'.

[Redman]

Improvement in the economy will come when and if oil prices move higher.

We can't expect that any 'diversification ' measures taken now will be able to move the needle on the economy any time soon.

[drchaos]

Improvement in the economy will come when and if oil prices move higher.

We can't expect that any 'diversification ' measures taken now will be able to move the needle on the economy any time soon.

I have no ill will against people who are suffering from a slow economy due to low oil prices BUT!

I sincerely hope the prices stay low for a long time. We need as a country some time to adjust our economy without the bolster of the oil and gas industry.

If oil and gas jumps next year to a favorable price then the easy money will flow again, the country will get addicted again and the drive for diversification will be dead again.


Its like going into a rehab center and offering the patients crack and heroin.

[De Dragon]

Improvement in the economy will come when and if oil prices move higher.

We can't expect that any 'diversification ' measures taken now will be able to move the needle on the economy any time soon.

I have no ill will against people who are suffering from a slow economy due to low oil prices BUT!

I sincerely hope the prices stay low for a long time. We need as a country some time to adjust our economy without the bolster of the oil and gas industry.

If oil and gas jumps next year to a favorable price then the easy money will flow again, the country will get addicted again and the drive for diversification will be dead again.


Its like going into a rehab center and offering the patients crack and heroin.

And jackarse Governments will restore the status quo once oil/gas prices do rebound.

[Redman]

well is it govts job to maintain the status quo?-
whatever you define that to be?

Invariably in a 2 party system the SQ is 'fix us fus before we get vote out'
We saw that 2010-2015.

GORTT regardless of which party is in power are price takers.....like a Commercial pilot reacting to weather.
They are not rain makers.

Dont mistake good weather for a skillful pilot..nor bad weather for a bad one.

[zoom rader]

One year gone and nothing

[BRZ]

THIS sort of bullsh1t has to STOP- someone has to be JAILED!

[BRZ]

Allyuh aint hear this bald headed d1ckhead colder heart? our justice system is not fair.
Will we see his return to Trinidad now that his Guardian Angel(peeneme) is in power? will he be allowed to come and relieve us of more of our tax paying millions and then leave to MIA yet again?

[Redman]

Didnt he and Rowley cross thread??

[Miguel000]

Allyuh aint hear this bald headed d1ckhead colder heart? our justice system is not fair.
Will we see his return to Trinidad now that his Guardian Angel(peeneme) is in power? will he be allowed to come and relieve us of more of our tax paying millions and then leave to MIA yet again?

more tax than was previously stated coming.

[hong kong phooey]

why would he come back .
he already made enough money(your hard earned money) for his family , their families and about 2 unborn generations to like like royals .

[Miguel000]

Allyuh aint hear this bald headed d1ckhead colder heart? our justice system is not fair.
Will we see his return to Trinidad now that his Guardian Angel(peeneme) is in power? will he be allowed to come and relieve us of more of our tax paying millions and then leave to MIA yet again?

only a matter of time....

[De Dragon]

Didnt he and Rowley cross thread??

Yes he tried to imps up Hart to get Manning out of the way but only when his own position was under threat, yet to this day he keeps that fairy tale alive about how he spoke out against corruption in the PNM

[Redman]

Well he did
He just did it what he was ready.

[Numb3r4]

Anybody interested in making Budget prediction?

[baigan]

James Corden on the late show just mentioned Trinidad and Keith rowley lol will post it later

[dude2014]

to ruin it

[desifemlove]

probably dr. williams put some tonic in the water that for 100 years or more nobody will diversify the economy and people will thief. PNM's plan is to say Kamla theif for five years.

[Numb3r4]

James Corden on the late show just mentioned Trinidad and Keith rowley lol will post it later

Saw it as it aired didn't mean much.

Made the Office of PM for Trinidad & Tobago look inconsequential.

https://www.youtube.com/watch?v=ELwaTmF7AKg

[drchaos]

James Corden on the late show just mentioned Trinidad and Keith rowley lol will post it later

Saw it as it aired didn't mean much.

Made the Office of PM for Trinidad & Tobago look inconsequential.

https://www.youtube.com/watch?v=ELwaTmF7AKg

But we are inconsequential ... Tiny little island nation with so much potential but contributing next to nothing.

[De Dragon]

Smoke and mirrors. Creating all kinds of red herrings with the President, and FATCA while raping us, and still with no plan to generate revenues. Taxing people into national prosperity cannot, and will never work, but Scarfy and Short Tunts like dem brighter than everybody else in the recorded history of the world.

[bluesclues]

Taxin ppl over 1million in profit 30% was a smart and also absolutely necessary move. Is just that.. all of a sudden, nobody will make 1million and more a year and all of them will only make $999,000 a year lol.

[Lance]

Taxin ppl over 1million in profit 30% was a smart and also absolutely necessary move. Is just that.. all of a sudden, nobody will make 1million and more a year and all of them will only make $999,000 a year lol.

This is where the revenue authority has to step in and strengthen their auditing capabilities.

[Slartibartfast]

Taxin ppl over 1million in profit 30% was a smart and also absolutely necessary move. Is just that.. all of a sudden, nobody will make 1million and more a year and all of them will only make $999,000 a year lol.

This is where the revenue authority has to step in and strengthen their auditing capabilities.

Or impose an additional 7% tax for some arbitrary reason.

[Daran]

Taxin ppl over 1million in profit 30% was a smart and also absolutely necessary move. Is just that.. all of a sudden, nobody will make 1million and more a year and all of them will only make $999,000 a year lol.

Which would be totally legal. When you have money you pay accountants to find a way to pay he least taxes possible.

It's called being smart.

[De Dragon]

Taxin ppl over 1million in profit 30% was a smart and also absolutely necessary move. Is just that.. all of a sudden, nobody will make 1million and more a year and all of them will only make $999,000 a year lol.

Which would be totally legal. When you have money you pay accountants to find a way to pay he least taxes possible.

It's called being smart.

No its called trying to look tough on rich people, while knowing that they are your friends and financiers and must not be harmed at all costs. Thus your mostly ketch arse base feel appeased, and could say "PNM taxing dem rich people dem" while your owners are likewise unaffected, because they already have advance notice, and have set up the tax shelters.

[sMASH]

^^ DIS, DIS!
U all really feel them fellas will let their padnahs take the hit?
Be real.
Go and hold ur hand in the grocery.

[Allergic2BunnyEars]

http://www.guardian.co.tt/news/2016-10- ... opping-tax



In spite of petition by Stand Up T&T...
Colm not budging on online shopping tax


Sharlene Rampersad
Published:
Wednesday, October 5, 2016


Anita Gokool, left, shows her colleague the charges incurred for a camera using shipping agent Web Source Ltd. PHOTO: KRISTIAN DE SILVA
Finance Minister Colm Imbert is not budging from his intention to impose a seven per cent tax for online shopping.

This in spite of a petition by the group, Stand Up T&T, which has garnered some support and is now planning to take the campaign to the public, targeting concerned citizens, the business community and civil society.

As support builds for the petition, Imbert declined to comment on record but promised to gauge public feedback on the issue.

In a interview with the T&T Guardian yesterday, Stand Up T&T’s Phillip Alexander said the new tax would affect all consumers, not just those who shop directly online.

“We are trying to get people to understand that even though you might not use your credit card to shop online, this tax targets the middle class business owners and that cost is going to be passed on to you.

“Middle class business owners are going to be forced to pass on the cost to the average citizen because they can’t absorb it,” Alexander said.

He said while he had announced via social media yesterday a meeting would be held, a date and time had not yet been set.

“We had a preliminary meeting with the members of Stand Up T&T today and we are currently in the contact phase, reaching out to civil society groups, business groups and the average citizens.”

During the interview, Alexander remained adamant the tax must be removed.

He said the group did not want to go head-to-head with Government and he hoped the Finance Minister would see the “error in his ways.”

He added: “We have no interest in fighting any government. This can all stop if the Finance Minister decides to repeal this tax.

“He has all the cards. He can realise the error in his ways and repeal the tax or dig his heels in and we the people of T&T will respond in such a way, that he may very well lose his job.”

Recalling the public outcry to remove then Port-of-Spain Mayor Raymond Tim Kee earlier this year, Alexander said:

“In the same way the Prime Minister reversed his support for Tim Kee, I am hoping he will reverse his thinking on this online tax or this may very well be the straw that breaks the camel’s back.”

Tim Kee resigned last February 15 after scores of concerned citizens and human rights activists staged a protest at Woodford Square, Port-of-Spain, calling for his resignation over comments he made on the discovery of Japanese pannist Asami Nagakiya’s body at the Queen’s Park Savannah on February 10.

On that day a petition calling for Tim Kee’s resignation started by the group WomanTra TT quickly gathered over 10,000 signatures.

Alexander said yesterday Stand Up T&T was hoping to gather 20,000 signatures. He said the group also hoped to host its public meeting before the October 20 implementation date of the tax.

What will it cost you?

While the public waits to see whether Government will go ahead with the implementation of a seven per cent online tax, online shopper Anita Gokool says the tax would not deter her.

Gokool, who is employed with KMP Music Lab, San Fernando, says shopping online keeps her in the latest fashion while saving her big bucks.

“I recently bought a leather bodycon dress from Amazon, the total cost was about $280 including shipping and taxes.

“A dress similar to that in a store in San Fernando costs $450, which is almost twice the cost,” she said yesterday.

A pair of suede multi-strap heels that match her dress is priced at US$24.99 on Amazon. With her calculator in hand, Gokool took to Websource TT’s website to calculate the shipping, taxes and the new online tax.

The shoes and packaging are estimated to weigh approximately three pounds. If she decides to purchase the shoes, Gokool will pay TT$48.61 in duties, TT$36.46 in VAT, TT$73.63 in freight, TT$6.78 on insurance and TT$0.63 on VAT on local handling.

With all the charges before the new tax, Gokool will pay TT$346.99. If the new tax is calculated before local charges apply, she will pay TT$11.78 extra. If it is calculated after local duties and charges, she will pay TT$24.28 extra.

The prices will vary based on the price of the product and the cost for shipping and handling locally.

For Gokool, the new tax is not a deterrent.

“At the end of the day, I am able to get the things I want, which sometimes aren’t available here or I am able to get things at a much cheaper cost.

“I would like to not to have to pay an additional tax but it’s still a win-win situation for me,” she added.