What is the PNM's plan for the economy?

[drchaos]

Government should not be the primary force of diversification I think private sector needs to fill that role ... but they should at least incentivize it! Tax breaks are a good start for net forex earners.

Anyone else has any good ideas?

[eliteauto]

Government should not be the primary force of diversification I think private sector needs to fill that role ... but they should at least incentivize it! Tax breaks are a good start for net forex earners.

Anyone else has any good ideas?

Can you give some examples of the type of industries and tax breaks you would recommend?

[Dizzy28]

Between the Free Zones Legislation and the Fiscal Incentives Act I believe there is a fair amount of incentives for non oil and gas companies. This is also in addition to those, benefits allowed under the Customs Act for duty free import of parts and machinery used in export generating activities as well as the allowances under the Corporation Tax Act for accelerated depreciation/wear and tear allowances.

The Fiscal Incentives Act operates with a schedule of permitted activities and I think this should be revisited as it is fairly old and would omit many knowledge based activities now.

[Trinispougla]

Government should not be the primary force of diversification I think private sector needs to fill that role ... but they should at least incentivize it! Tax breaks are a good start for net forex earners.

Anyone else has any good ideas?

[Trinispougla]

[gfycat][/gfycat]

Government should not be the primary force of diversification I think private sector needs to fill that role ... but they should at least incentivize it! Tax breaks are a good start for net forex earners.

Anyone else has any good ideas?

Facts are that in a country where it is an accepted fact that the two universities produce only theoretical graduates, some of them unemployable as persons on the estate will tell you, the government has to take the lead in diversification. This is not Barbados where the private sector has been churning out solar power units since the 80s. This is an oil rich state where diversification in many instances were not pursued or in some cases stamped out because of politics. And our private sector must be the least creative in the entire Caribbean. They never had to. Oil and gas plus automation has maintained our dominance over the region and when things are good, no one sees the need to innovate

[Redman]

We running down the IFC but the rest of the Financial Sector is still in the 80s.

We need a Capital market that is willing to finance local projects to enable the diversification of the economy...

on one side we have 7B or so in deposits -read under utilized capital.
and on the other we we importing everything including the oil that we refine domestically for transport

Create some Angel Funds, set the standards, identify the exit strategy and get facking going.

but when yuh making billions in house and car loan-why bother.

[eliteauto]

We running down the IFC but the rest of the Financial Sector is still in the 80s.

We need a Capital market that is willing to finance local projects to enable the diversification of the economy...

on one side we have 7B or so in deposits -read under utilized capital.
and on the other we we importing everything including the oil that we refine domestically for transport

Create some Angel Funds, set the standards, identify the exit strategy and get facking going.

but when yuh making billions in house and car loan-why bother.

We already have that you just need to meet the standard local banking requirements such as yuh surname, yuh family ties, yuh political ties, yuh social status etc

Banks complain about excess liquidity but quick to lend you a 7 year illegal loan for a car to pump on De Haveneau, but will turn you down for a loan to grow/create a business. If you cannot get creative with sourcing funding is salt. Classism is worse than racism in T&T but ppl bogged down in "us and them"

[Dizzy28]

We running down the IFC but the rest of the Financial Sector is still in the 80s.

We need a Capital market that is willing to finance local projects to enable the diversification of the economy...

on one side we have 7B or so in deposits -read under utilized capital.
and on the other we we importing everything including the oil that we refine domestically for transport

Create some Angel Funds, set the standards, identify the exit strategy and get facking going.

but when yuh making billions in house and car loan-why bother.

We already have that you just need to meet the standard local banking requirements such as yuh surname, yuh family ties, yuh political ties, yuh social status etc

Banks complain about excess liquidity but quick to lend you a 7 year illegal loan for a car to pump on De Haveneau, but will turn you down for a loan to grow/create a business. If you cannot get creative with sourcing funding is salt. Classism is worse than racism in T&T but ppl bogged down in "us and them"

The irony is that should you hear any bank big wigs speak at public forums you would swear they willing to lend to businesses. They always speak of willingness to help and develop businesses.
In real life it always boils down to collateral and security.

[Redman]

it says tons when the financial sector will not finance onshore drilling.
yet almost every USD they get smells of the very same oil.

[De Dragon]

it says tons when the financial sector will not finance onshore drilling.
yet almost every USD they get smells of the very same oil.

With the ridiculous fees and interest charged on "safer" loans/investments, there is no incentive for banks to get into these risky ventures. Financial cowardice is the key, and when you declare hundreds of millions of profit every single year, what's going to move you from that position?

[drchaos]

"The Waterfront project went hundreds of millions of dollars over budget during the spending spree under Patrick Manning and Calder Hart, so to name it after him seems almost obscene, like naming the child of rape after one of the rapists.

I understand your need to sanitise your history and pretend that none what happened did in fact happen, but it did.

Manning's death does not undo the billion dollar cost overrun at Brian Lara Tsunami Academy, neither does it undo the six hundred million dollar overrun on NAPA and SAPA, it doesn't undo the six hundred million cost overrun on Scarborough hospital, and it certainly does not erase the CHOGM and the other billion dollar party orgy at the height of his free wheeling days including the government campus buildings and the billions spent in 'restoration' and other scandalously over priced projects.

Patrick Manning the man is dead and may his soul rest in peace, but Patrick Manning the Prime Minister was an arrogant ass, a dictator in the making, and responsible for some of the most challenging institutional abuses in our history, including the attempted arrest of a Chief Justice and the State of Emergency to place a House Speaker under arrest.

It may be impolite to speak ill of the dead and i have so far resisted, but don't expect me to stand idly by while some of you rewrite history to remake his legacy that of Gandhi and Jesus Christ.

Patrick Manning went to his grave with a lot to answer for.

Let us say rest in peace and leave it at that."

Most interesting rant by Phillip Edward Alexander yet.

[De Dragon]

Rambharat is the man! Innocent people losing their jobs just purely out of spite.
http://www.trinidadexpress.com/20160711/news/job-purge

[drchaos]

LOL Mary made the housing minister steups at her and now she is getting a house.

Great Housing Plan by the administration ....

[mrtrini45]

Stupes at the PNM maybe i will get one

[eliteauto]

LOL Mary made the housing minister steups at her and now she is getting a house.

Great Housing Plan by the administration ....

False

[drchaos]

LOL Mary made the housing minister steups at her and now she is getting a house.

Great Housing Plan by the administration ....

False

http://www.guardian.co.tt/news/2016-07- ... -new-house

Looks like the Minister back pedaled! HAHAHA

[De Dragon]

LOL Mary made the housing minister steups at her and now she is getting a house.

Great Housing Plan by the administration ....

False

http://www.guardian.co.tt/news/2016-07- ... -new-house

Looks like the Minister back pedaled! HAHAHA

Yuh see what public shine up does cause? HDC house brisk brisk!

[Lance]

Given the impending decision on gate. Has the task force report been released for public consumption?

[drchaos]

Very happy with the return to a similar dollar for dollar system. Rough for Post grad tho they have to pay full tuition fee's.

[Allergic2BunnyEars]

If this is really the case then I don't think anyone should complain about fuel price subsidies being reduced or speeding tickets anymore.

[drchaos]

Hopefully fuel subsidies should be completely gone by the next budget and we move to pricing gas on the price of oil, crossing my fingers that Colm follows thru.

[zoom rader]

Hopefully fuel subsidies should be completely gone by the next budget and we move to pricing gas on the price of oil, crossing my fingers that Colm follows thru.

Fuel subsidies will totally be removed but no pricing gas to oil prices. PNM what to make a mint.

[De Dragon]

Very happy with the return to a similar dollar for dollar system. Rough for Post grad tho they have to pay full tuition fee's.

What is the rationale behind recommending no GATE for over 50 though?

[drchaos]

Very happy with the return to a similar dollar for dollar system. Rough for Post grad tho they have to pay full tuition fee's.

What is the rationale behind recommending no GATE for over 50 though?

Probably has to do with value for money. On an individual level it sucks but from a government stand point the cost would outweigh the benefits.

[De Dragon]

Very happy with the return to a similar dollar for dollar system. Rough for Post grad tho they have to pay full tuition fee's.

What is the rationale behind recommending no GATE for over 50 though?

Probably has to do with value for money. On an individual level it sucks but from a government stand point the cost would outweigh the benefits.

Yes but many people with loads of experience are doing degrees to build their skill set even at 50.

[drchaos]

True but in 10 to 15 years these people will be of retirement age. So from a government stand point it's hard to justify spending alot of money on educating these individuals when the return might not be as much as they could retire or expire in a few years ... We seeing massive heart attacks in the 30's now.

I even think that these changes to funding education are soft. I think low interest loans is what we should be aiming for in terms of paying for tertiary education.

I have seen these OJT with their GATE degree's in action. They spend ridiculous amounts of money eating out every day, liming all the time and they are ready to walk off the job when someone asks a simple task.

[De Dragon]

True but in 10 to 15 years these people will be of retirement age. So from a government stand point it's hard to justify spending alot of money on educating these individuals when the return might not be as much as they could retire or expire in a few years ... We seeing massive heart attacks in the 30's now.

I even think that these changes to funding education are soft. I think low interest loans is what we should be aiming for in terms of paying for tertiary education.

I have seen these OJT with their GATE degree's in action. They spend ridiculous amounts of money eating out every day, liming all the time and they are ready to walk off the job when someone asks a simple task.

That is age discrimination. Only here would that sheit fly. Letting people remain because their tuition is more expensive? Discrimination. People doing certain degrees to get GATE? Discrimination again.
Where are all the pro bono, wanna be in the news lawyers when you need them?

[drchaos]

That's why student loans would be the most appropriate solution.

I think the two you looking for is Anand Ramlogan and Ramesh L. Maharaj to make some noise.

Ramesh to busy dealing with SIS and Anand enjoying the good life with all those kick backs he made ... he will return after the money runs out (unlikely) or his ego needs some press time (more likely).

[BRZ]

So you might have to buy local electronics juss now, hearing some talk now that in addition to the online sales being higher than originally planned there are plans to increase import Duty on Electronics to a whopping 75% on top of that too. Look how televisions now going to go up by almost 50% from now on.

[ADONI]

Just now we go be back to using pitch oil lamp!