2012 Budget

[TriP]

Huge cuts in 2012 budget

FINANCE MINISTER Winston Dookeran will present the 2012 Budget at 1.30 pm on October 10 at Tower D of the Port-of-Spain International Waterfront Centre

FINANCE Minister Winston Dookeran has slashed the $28 billion requested by government ministries to $7.6 billion under the Public Sector Investment Programme (PSIP) in the 2011/2012 fiscal package.

A government source said all the ministries received major cuts on last year’s allocations and requests for this year.

Housing and the Environment will get the biggest allocation of $860 million under the PSIP.

Part of the allocation will go towards the Urban Development Corporation of Trinidad and Tobago (UDeCOTT) for major projects to create more jobs.
Works and Infrastructure’s allocation has been reduced to $761 million for drains, roads and bridges.

Works Minister Jack Warner said earlier this week that he wanted “plenty, plenty money” – about $1.3 billion – for PURE (Programme for Upgrading Roads Efficiency)..

Warner said in August that Cabinet had allocated $1.5 billion for road works but he only received $750 million.

Last week he said that his Ministry wanted $1.3 billion in this fiscal year but if he does not get it, he will have to work with what is allocated to him.

National Security will get $505 million, while Education is listed for $574 million, Health $580 million and Sports $155 million...

In July this year Education Minister Dr Tim Gopeesingh had requested $400 million more for upgrading of some schools since the $608 million allocated under the PSIP in the last budget was already exhausted.

A source said that the budget for Tobago is expected to increase by $100 million from the $2.85 billion which was allocated to the Tobago House of Assembly (THA) in the last budget.

Finance Minister Dookeran has already increased the PSIP allocation to Tobago by some $12 million from $308.4 million in the 2010/2011 budget.

Reports are that the Government intends to spend more money in the Sister Isle in the early part of next year, with the hope that the Tobago Organisation of the People (TOP), one of the coalition parties in the People’s Partnership government, could take control of the PNM-led THA.

Some political observers are predicting an “election” budget for Tobago.

Dookeran is expected to present the budget, estimated to be around $50 billion, next week in the House of Representatives.

Political analysts say that the 2011/2012 will be another deficit budget, with the shortfall being even higher than the $8 billion spent last year.

Trade and Industry Minister Stephen Cadiz has already hinted that the upcoming national budget would be a “tight” one and citizens can expect value for money....

[sharkman121]

awaits word on gas subsidy.

[bushwakka]

have the budgeted for the fated end of the world?

[hustla_ambition101]

Interesting that they left out Min of the People and S. Dev.. His budget needs to be cut, Trinidadians need to learn how to get up and be productive and not sit and receive cheques every month. In the middle of the past financial year that ministry had already spent over 3 billion.

[TriP]

Some Comments off the Trinidad Express:

Year..Budget..Percentage % "increase" in expenditure ,budget increase,,over previous years compared to 2001

2001___$13,448,000,000
2002___$15,798,000,000___17%_____________17%___PNM
2003___$20,000,507,153___27%_____________49%___PNM
2004___$22,331,591,613___12%_____________66%___PNM
2005___$27,917,851,946___25%_____________108%__PNM
2006___$34,119,000,000___22%_____________154%__PNM
2007___$38,054,000,000___12%_____________183%__PNM
2008___$42,260,900,000___11%_____________214%__PNM
2009___$49,465,200,000___17%_____________268%__PNM
2010___$51,453,100,000___4%______________283%__PNM/PP
2011___$49,000,000,000___-5%______________264%__PP

Where did the money go?
Why is T&T nearly fifty billion dollars in debt?

"because debt capital is cheaper than equity capital, and borrowing allows for the more rapid expansion of developmental capacity. It is noteworthy that some of the debt was - much like the recent deal struck again with China - at extremely low rates of borrowing (under 2%)"

"Is not Trinidad and Tobago still burdened by people in high office who cook the books to make desktop computers destined for schools cost $10,000 to $30,000 more than their actual retail price? This cooking of the books can be found liberally practised across State agencies? When these gross inefficiencies are corrected government will discover that it has many billions to spend, thus the State will have no need to visit upon citizens austerity measures"

"Paving roads with poor aggregate material lead to persistent need for resurfacing. Poor planning, communication, coordination between the Ministry of Works and Utility companies also lead to persistent need for resurfacing.
The paving is particularly ridiculous when WASA's mains planted below roadways for some illogical reason are in disrepair when roadways are paved. I recently witnessed a road properly paved by the works ministry and the following week dug up by TSTT to lay cables. I presume TSTT believed more people would soon move to that area and would require telecommunications services.
I suppose the idea makes too much sense to at the very least install utility systems along road edges in some form of easily accessible hard to destroy encasement so that utility maintenance and upgrade would not have to involve large scale road destruction followed by repaving and again destruction.
In Trinidad and Tobago, if it is inefficient and planning mediocre, it is proudly endorsed and thus acceptable"

"therefore it would be incumbent on state authorities to find and lockup all such persons as terrorists. they terrorize citizens with their fraudulent work methods and billing practises, costing taxpayers billions annually. In part because of them Trinidad and Tobago is $50 billion in debt and rising."

[Stephon.]

LOL I honestly want them to cut GATE for the lulz.

[Dizzy28]

Looking forward to this budget. Better gas subsidy than GATE gets cuts yes.

[BrotherHood]

Looking forward to this budget. Better gas subsidy than GATE gets cuts yes.

x2

[pioneer]

They need to stop GATE, if people can't afford education then go pump gas for those who can.

[equipped2ripp]

Yup, they need to cut down on GATE now...

Too many undeserving people taking advantage of it.

The government should pay GATE based on a student's CXC/CAPE results and also based on salary, for those who are working.

Or they can go back to the dollar-for-dollar system, and only give 100% funding to those who need it such as poor students and so on. Not saying they should cut it out completely because there are many poor students who really need the funding, but there are many wealthy persons who can afford tertiary education, so dollar-for-dollar would be good enough for them.

But then again, drop or minimise the programme, and you lose political points, right?

[hustla_ambition101]

The idiots actually talking about expanding GATE to technical and vocational programs, why spend hundreds of millions for people to get watered down degrees and they can't get jobs afterward. Also there is a bunch of old dinosaurs between the age of 50-60 now doing degrees rather than prepare for retirement, blocking the employment of qualified young people. Many programs need to be cut/restructured: CEPEP and URP, Social handouts, free laptops for undeserving children.

[shake d livin wake d dead]

interested in what the agriculture sector get.........how much longer are we going to depend on other countries,when will we ever be self sufficient and begin exporting more than we import.

[~Vēġó~]

raise tax on rum and cigarrette even more I say!!!!!!

[hustla_ambition101]

raise tax on rum and cigarrette even more I say!!!!!!

cigs yes rum nooooooooooooooooooooooooooo

[Stephon.]

Good thing I'm trying to stop smoking, only a week so far though. Won't be surprised if they raise tax on cigs again, alcohol - please no

[teems1]

revamped Clico bailout plan for policyholders is going to be the big talking point

[ElectricoS]

allyuh want first world country ? then stop protesting property tax...

[Stephon.]

allyuh want first world country ? then stop protesting property tax...

PREACH!!!!

[MBC Autotronix]

Yup, they need to cut down on GATE now...

Too many undeserving people taking advantage of it.

The government should pay GATE based on a student's CXC/CAPE results and also based on salary, for those who are working.

Or they can go back to the dollar-for-dollar system, and only give 100% funding to those who need it such as poor students and so on. Not saying they should cut it out completely because there are many poor students who really need the funding, but there are many wealthy persons who can afford tertiary education, so dollar-for-dollar would be good enough for them.

But then again, drop or minimise the programme, and you lose political points, right?

I agree

and

raise tax on rum and cigarrette even more I say!!!!!!

I also agree to an extent...because according to Patrick Manning,this may force ppl to turn to healther lifestyles (by controlling their consumption)...
Manning tried dat,ppl grumbled for 2 weeks and that was that......

but that wont stop ppl anyways....ALL restuarant's/clubs/sports bars whatever would still and ALWAYS be packed on a weekend.....look at Price plaza any day of the week or even weekend....

[gt4tified]

Sports $155 million...

Hmmmm....ent in some other thread on this site there it is alleged that the MOS building a motorsport facility costing $1.4bn... so the other 1,245,000,000.00 will be given to the Ministry in the remaining 3 years?

riiiiiiight.

[shake d livin wake d dead]

raise tax on rum and cigarrette even more I say!!!!!!

people would still somehow find the extra $$ to buy it...they would just complain for a few days and is back to normal.

[~Vēġó~]

and when is back to normal raise it further next time around.....no mercy!!!!!

[pioneer]

whatever happens, ya'll need to prepare your agnus

[toyolink]

The 2012 budget will have to recognise that the state revenues derived from the oil and gas industry will continue to decline.
T&T just doesn't have the options available to sustain levels of expenditure we have executed in the immediate pass.
The gov't in this budget presentation will have to use a lot of rhetoric coupled with lower numbers to make the exercise on the 10th appear significant.
The capital expenditure program will have to revert to a dependency on loans and recurrent expenditure is going to be cut.
What is going to hurt is the increases tax payers both individual and corporate may be asked to bear.
I personally just can't see how the state is going to take care of clico,maintain subsidies at existing levels,increase salaries,employ more citizens in their various programs,service debt and generally keep thing as they were.
The reality is everytime the gov't of the country must make tuff decisions the PNM out of office.This under different circumstances could be considered hilarious.Unfortunately it just isn't.
This is a carbon copy of what happened when T&T went into recession in the 80's.
Buckle-up folks we in for a real bumpy ride.

[pioneer]

This country has zero focus on tourism, their idea of tourism is carnival which happens once a year.

whooptie doo?

[toyolink]

I won't be surprised if CNG becomes a discussion piece in the budget again and incentives offered to blunt the sting in the tail of increases in the price of fuel.
In fact CNG always becomes important and urgent when things bad and we don't have the funds to effect the required capital expenditure.Presently the gov't has employed a bunch of high paid retirees who refuse to move on to work on CNG and NGC has a tender out for dedicated CNG vehicles.
The fact is that in the 80's a full study was done on CNG when things were tight but as soon as money started to flow,the project was no longer important.The best time to have done CNG was when we had money and could afford the massive infrastructural investments.
I am pretty sure that the money spend in 2011 on CNG ole talk if ever made public will surprise most.
With all due respect for the previous Minister of Energy,she was really taken for a ride by the old boys and girls club.

[S_2NR]

raise tax on rum and cigarrette even more I say!!!!!!

HELL NOOOOOOOOOOOOOOOO..

remove the gas subsidy..less cars on the road for sure.

[rfari]

The reality is everytime the gov't of the country must make tuff decisions the PNM out of office.This under different circumstances could be considered hilarious.Unfortunately it just isn't.
This is a carbon copy of what happened when T&T went into recession in the 80's.
Buckle-up folks we in for a real bumpy ride.

THIS. i almost want to believe that they do it on purpose everytime

This country has zero focus on tourism, their idea of tourism is carnival which happens once a year.

whooptie doo?

tourism? steups...

[rfari]

for those interested. dr. rae furlonge gonna be on CNC3 tmmrw @ 715 in the morning to discuss transportation issues as it related to the upcoming budget.

[SmokeyGTi]

well I guess we're just fcuked now aren't we...
no money for nuttin.