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16 cycles wrote:Who we borrowing money from and at what rate to finance the budget?
What going on with the stabalization fund?
eliteauto wrote:food inflation is/was calculated on what is known as a basket of goods, basically the basic groceries a home would need. This can be artificially skewered at the time of calculation by a temporary drop in prices of goods known to be in the basket...say you drop oil/rice/flour/grains for example, then the ROI would drop. Not that any good Gov't would offer subsidies on oil/rice/flour/grains during the time a budget is being prepared... impossible to see that happening
At least my non-degree in economics says so *shrugs*
88sins wrote:redmanjp wrote:some fines already heavy- $2000 for PBR usage, $8000 (i think) for DUI,
max fine for driving w/o insurance is 7000
proposed 50% increase would bring it to 10500
d average person, if handed the maximum penalty, go hadda take a friggin loan from d bank & pay interest just to pay a friggin traffic ticket or treat it like a hp agreement if possible & pay on installments.
like some ppl here ain't realize these goat fuggers done rape d treasury & sodomize the economy w/o even the courtesy of some spit fuh lube.
anywhich, zealous political puppets with hands up their arses never really use much free thought, common sense or logic
Crackpot wrote:kjaglal76v2 wrote:zoom rader wrote:Crackpot wrote:Nothing in this budget for the middle class who prop up this economy or the Public servant
You not middle class, just a lowlife
gouuuuuuud
Where in my post did I say that I was middle-class?
All kinda post after mine and you found mine to quoteIs man yuh looking for or what? I know allyuh UNC have some homosexuals ya'll doh wanna talk abt but I feel you is one ah dem
shake d livin wake d dead wrote:so allyuh comfortable with that huge food import bill?? comfortable with sending all we money to Guyana for rice and sugar(which we could produce here)..year after year agriculture get the smallest allocation..
UML wrote:for the misinformed PNMites among us
we had a $1,900,000,000 budget return/surplus (i think return was the term that was used) in June 2014.
rfari wrote:UML wrote:for the misinformed PNMites among us
we had a $1,900,000,000 budget return/surplus (i think return was the term that was used) in June 2014.
Source?
the fiscal deficit is on course to meet our 2016 objective of bringing the
fiscal accounts into balance; notwithstanding the budgeted deficit of
$6.357 billion for fiscal 2014, a surplus of $1.967 billion had been
realised as at the end of June 2014
desifemlove wrote:shake d livin wake d dead wrote:so allyuh comfortable with that huge food import bill?? comfortable with sending all we money to Guyana for rice and sugar(which we could produce here)..year after year agriculture get the smallest allocation..
as long dasheen and okro cheap...i ent balling....
rfari wrote:16 cycles wrote:Who we borrowing money from and at what rate to finance the budget?
What going on with the stabalization fund?
Hsf get a hardluckboidanboy
rfari wrote:UML wrote:for the misinformed PNMites among us
we had a $1,900,000,000 budget return/surplus (i think return was the term that was used) in June 2014.
Source?
Deficit budget records small surplus
Sunday, September 15 2013 @ 12:00 AM AST
Contributed by: AleemKhan
The fiscal year (FY) 2013/2014 budgeted deficit amounts to $6.357 billion or 3.6 per cent of gross domestic product (GDP), down from the $7.7billion or 4.6 per cent of GDP budgeted for FY2012/2013, RBC Caribbean said in its T&T budget report released on Tuesday. "The overall fiscal deficit budgeted up to Q3 FY2012/2013 was $5.75 billion, but in reality a surplus of $375 million was recorded for the period October 1, 2012 to June 30, 2013, being the first three quarters of the FY2012/13, on a pro rata basis. This result is based primarily on the combined effect of non-energy and capital revenues higher by $1.6 billion and $409 million respectively, and total expenditure $4.13 billion less than budgeted for the same period on a pro rate basis," the report said.
RBC noted that Finance Minister Larry Howai broke from tradition and gave status updates on various initiatives announced in previous budgets. "The minister acknowledged that many projects were not as far advanced, were still in the planning stage, or took longer to complete than expected. This acknowledgement in itself represents progress, alongside the goals of a balanced budget by 2016, and a top 30 ranking on the Global Competitiveness Index by 2018," RBC Caribbean said.
The bank said "the fiscal budget has grown almost steadily, from roughly $12.22 billion in 2000 to $61.4 billion budgeted for FY2013/2014, which represents an increase of 5.12 per cent over the FY2012/13 budget. Up to Q3 FY2012/13, total expenditure reached $39.67 billion, which is $4.14 billion lower than budgeted (for the period October 1, 2012 to June 30, 2013, being the first three quarters of the FY2012/13, on a pro rata basis)." RBC Caribbean Group Economist Marla Dukharan, who authored the report said said this was based mainly on capital expenditure coming in $1.98 billion below target, and spending on goods and services $2.5 billion below budget for the same pro-rated period.
With regard to revenues for FY2013/2014, RBC noted that total revenue is budgeted at around $55 billion - $23.4 billion from oil and $32.7 from non-oil.
"This represents an increase of roughly 8.5 per cent over the FY2012/13 budget. Most notably, the minister announced that property tax will be implemented on a phased basis from July 2014-2017. Up to Q3 FY2012/2013, total revenue reached $40 billion—almost $2 billion more than budgeted for the pro-rated period. Oil revenue was on target at roughly $20 billion, but non-oil revenue came in at $19.4 billion—about $1.6 billion above budget for the same pro-rated period. Capital revenues also exceeded targets, by $409 million over the same period.
Similar to previous budgets, the FY2013/2014 budget is based on an assumed oil price of US$80 per barrel and a natural gas price of US$2.75 per million British thermal units (MMBTU).
The bank noted that for FY2012/13 year-to-date, West Texas Intermediate (WTI) averaged $92 and the Henry Hub (natural gas price) averaged US$3.62.
RBC Capital Markets has forecasted an average WTI price of US$91 and Henry Hub at US$3.75 in 2013, and prices are set to increase further in 2014.
In the FY2013/2014 budget, a growth rate of 1.6 per cent is assumed for 2013, rising to 2.5 per cent in 2014 and throughout the medium term. In the FY2012/13 budget, GDP was projected to reach $166.7 billion in 2012, showing real growth of 1.2 per cent.
"GDP actually grew 0.2 per cent in 2012 to $153.5 billion, which is $13.2 billion short of the target. The economy is reported to have grown by 1.6 per cent year-on-year in Q1 2013, driven by a 2.5 per cent expansion in the non-energy sector, and 0.5% growth in energy output," the bank said.
On the fuel subsidy, the RBC Caribbean report said: "Incidentally, Norway (an oil producer with no fuel subsidy) has the highest premium gas price globally, but out of 148 coun-tries, ranks 11th on the Global Competitiveness Index, while T&T ranks 92nd despite our hefty fuel subsidy. Spending on the fuel subsidy should decline as Caribbean Airlines will no longer benefit from the subsidy for all non-domestic flights, effective October 1, 2013."
In addition, the leading economist wrote, the National Gas Company (NGC) will spend in excess of $2 billion during a five year period to construct over 22 new CNG fuelling stations and convert over 17,500 vehicles. Further, effective January 1, 2014, a tax credit of 100 per cent of the cost of conversion up to $40,000 per vehicle will be granted to individuals and companies. Finally, the bank noted that the penalties for illegal exporting of fuel have been increased substantially, and will also include seizure of the fuel and vessel in question.
http://news.co.tt/public_html/article.p ... 0194218173
rfari wrote:UML wrote:for the misinformed PNMites among us
we had a $1,900,000,000 budget return/surplus (i think return was the term that was used) in June 2014.
Source?
UML wrote:Page 5 of 92
the fiscal deficit is on course to meet our 2016 objective of bringing the
fiscal accounts into balance; notwithstanding the budgeted deficit of
$6.357 billion for fiscal 2014, a surplus of $1.967 billion had been
realised as at the end of June 2014;
http://www.trinidadexpress.com/news/The ... 73341.html
rfari wrote:UML wrote:kjaglal76v2 wrote:shake d livin wake d dead wrote:URP and CEPEP workers should be planting food all over the country...why do we continue to depend on Guyana...produce it here nuh....allyuh go eat oil and gas?
i agree, but how u propose gettin PNM ppl into gardening exactly? remember planting is actual hard honest work & that isnt the PNM.way of life. the only crop these ppl willing to plant is marijuana
den dey go say is new age slavery
btw we have the lowest food inflation of 3 % in 21 yearsssssUML wrote:leave dem nah yuh eh se rfari and rasc hiding from this thread...wah dey go criticize?!!
Was waiting for yuh yuh call meh name. Tell me more about the food inflation %. Where that figure come from? Like where the finance minister get the stats from?
rfari wrote:Maybe I not understanding the financial thing-a-majig but it seems to me like pp govt has 100$ revenue for the year but spent 90$ by the 6th month but at the end of the year spends a total of 140$ resulting in a deficit yet claim to have a surplus of 10$ by the end of the 2nd quarter? My thinking correct or nah?
Habit7 wrote:PNM $44B balanced budget = wastage
PP $64B deficit budget = best ever!
eliteauto wrote:rfari wrote:Maybe I not understanding the financial thing-a-majig but it seems to me like pp govt has 100$ revenue for the year but spent 90$ by the 6th month but at the end of the year spends a total of 140$ resulting in a deficit yet claim to have a surplus of 10$ by the end of the 2nd quarter? My thinking correct or nah?
me eh sure wha yuh saying yuhnno, cause is like yuh trying to say the budget for 2014 was $61,397.9 million and there was increase in expenditure by $3,820,601,879 in July (2 months ago) and the said surplus cam around the same time and it wasn't real and that is why it only had one line in the budget instead of being played from loudspeakers by the Gov't?
Nah man I know big words does tie up UML but you inferring numbers do too?
Trini Hookah wrote:They cutting down canefields to put HDC house....where u plan on growing that now?
RASC wrote:Welfare State Economics.
Anyone been paying attention to the price of oil and gas?
Notice: Crisis in Iraq, Crisis in Ukraine, Scotland looking to pull apart, Venezuela in turmoil...
Yet? Prices at 3 month lows...heading into winter with the renewed vigor of gulf drilling and North Dakota Frakking...look for it to drop even further.
Add to this let the middle east stabilize and Ukraine and Russia find a happy medium...look for it to drop even further.
Allyuh better PRAY for a harsh winter and continued conflicts in the middle east. This PP government has no plan for the future.
eliteauto wrote:UML when you go shopping has your food bill decreased?
shake d livin wake d dead wrote:eliteauto wrote:UML when you go shopping has your food bill decreased?
this!!!
man quoting sheit stats....
UML: you ever hear anyone made positive comments on food prices?? yuh jakarse
zoom rader wrote:
I don't give a chit if a person gets a 10500 ticket, what he doing driving without insurance. These fvukers cause all sorts problems for other road users.
If you did that chit in the UK they seize your car and crush it lambo or not
88sins wrote: zealous political puppets with hands up their arses never really use much free thought, common sense or logic
Maxi owners on $35m tax rebate: Wives already counting cash
Tweet
Gail Alexander
Published:
Wednesday, September 10, 2014
Maxi taxi operators who purchased 25-seater vehicles in previous years will be getting $35 million in rebates from the 2015 budget, as the People’s Partnership (PP) Government seeks to honour a tax-waiver commitment made by the former People’s National Movement (PNM) administration but which was outstanding for the last nine years.
Trade, Industry and Investment Minister, and Minister in the Ministry of Finance Vasant Bharath confirmed the situation yesterday, after Finance Minister Larry Howai announced the concession for such maxi operators in Monday’s budget speech. Howai had said the outstanding payment was owed to drivers since 2005 and would be made.
Allocation by the Finance Ministry of $35 million to make the payment is contained in the draft estimates of recurrent expenditure, one of several budget documents. The document states the payment is in lieu of remission of taxes. Bharath told T&T Guardian that a commitment had been made by the PNM government in 2005 to waive taxes and VAT on purchase of 25-seater maxi taxis.
However, Bharath said the Finance Ministry’s information was that the refunds owed to the operators of such vehicles had never been paid. He said the move to deal with the outstanding issue was made in response to representations by six maxi taxi associations.
Yesterday, the Finance Ministry received from Eon Hewitt, representing executive members of the Association of Maxi Taxi operators of all the routes, thanking Government for the rebate and seeking a meeting to work out the logistics of the payments.
In the e-mail Hewitt stated: “The last 48 hours has been a wonderful experience for us as executive members of the Association of Maxi Taxis in this bless (sic) twin island. The journey was long and bitter but as we come to the end, the roses start to bloom, hearts racing and wives counting.
“Gentlemen, can we look forward to sitting down and working out the matrix to bring this issue to a satisfactory conclusion in the near future? On behalf of all six routes and the association executives, we wish to thank you all for bringing nine years of uncertainty to this point of success. All the best for your future endeavors. Much thanks.”
Contacted yesterday on why the PNM, during its tenure, had not met the commitment to the maxi operators in 2005, former PNM Works Minister Colm Imbert said “a lot of things.” PNM deputy leader Marlene McDonald said she didn’t know anything about the arrangement the PNM had with the maxi owners in 2005 since she had entered the government in 2007.
Caribbean airlines gets $718M
Meanwhile, budget documents also lists transfers from the Finance Ministry for Caribbean Airlines to the tune of $718 million, a $465.2 million increase over the transfer level for 2014. Funds include $11.3 million for CAL’s debt servicing in 2015. Documents on draft estimates of development programmes list an allocation of $75.3 million for the Police Service, which has its own funding.
Recurrent expenditure for the National Operations Centre, which co-ordinates security operations, has also been placed under the Prime Minister’s Office. Its 2015 level is $355.6 million. Recurrent expenditure is also listed under National Security for the Implementation Agency for Crime and Security to the tune of $13 million and $135 million for the Strategic Services Agency. A new item, the Cyber Security Programme, is also being introduced in National Security with a $3.8 million injection.
New bodies being established in the budget for 2015 include the Finance Ministry’s supervisor of insolvency, with $669,000 for recurrent expenditure. A further $1.8 million and $1.5 million are listed for the office of the supervisor and equipment. Another being established in the Energy Ministry is a quarry authority to oversee activities on quarrying. Some $1.7 million is allocated as start-up funding. There are decreases in recurrent expenditure for all regional corporations.
http://www.guardian.co.tt/news/2014-09- ... nting-cash
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