Government Sets October 12 Date for Davendranath Tancoo’s 2027 Budget Presentation

Tobago MPs Joel Samson and David Thomas said they will work with the UNC Government to secure development for the island, even as they challenged the cut in Tobago’s direct 2027 budget allocation to $2.756 billion from $2.96 billion. They argued Tobago needs both fair funding and stronger revenue-earning sectors like tourism to reduce dependence on central government.

Tourism stakeholder Lorraine Pouchet says Trinidad and Tobago’s budget allocation for tourism is too small to support real economic diversification away from oil and gas. She said only about $4 million of Trinidad Tourism Ltd’s $19 million budget appears available for development, and called for stronger government commitment, especially from the Prime Minister, and closer work with industry players.

Former finance minister Colm Imbert said in Parliament he cannot support the 2026-2027 budget, calling the government’s figures unrealistic and warning that Trinidad and Tobago is already in recession or close to crashing. He said ministry and Central Bank data show declines in GDP, energy, construction, tourism and business lending, while accusing the UNC government of imposing 70 new taxes and fees instead of encouraging growth.

Agricultural consultant Riyadh Mohammed says the Ministry of Agriculture’s $987 million 2026–2027 budget could help grow farming and food production, but only if policies are implemented well and farmers see real gains. He welcomed plans to expand internships and formalise farms, while warning that land access, finance, irrigation, drainage and bureaucratic delays still threaten the sector.

In Parliament’s 2027 Budget debate, Foreign Affairs Minister Sean Sobers said former prime minister Keith Rowley’s overseas travel cost taxpayers $32.5 million from 2015 to 2025, while defending the UNC government against claims it is banking on the US-Iran war. Colm Imbert countered that the budget relies on high oil prices despite projected economic declines and rising unemployment.

Planning Minister Dr Kennedy Swaratsingh has rejected the Opposition Leader’s claim that Trinidad and Tobago is in recession, calling it irresponsible and misleading. He said projected economic growth of about 0.8% to 0.9% does not meet the definition of recession and warned that such statements could damage investor confidence.

Agriculture Minister Ravi Ratiram said the Government’s $0.987 billion allocation to agriculture in the 2027 Budget shows food security is a national priority and aims to reduce reliance on imports. He also pointed to the rising food import bill, now over $7.3 billion, and backed expanding fruit and food orchards in schools and public spaces to boost local production.

Opposition Leader Pennelope Beckles said Trinidad and Tobago is in recession and called for Finance Minister Davendranath Tancoo’s resignation, accusing him of giving the IMF misleading economic figures. In her budget reply, she also said promised $250 pension and grant increases are partly false because budget allocations for social programmes were cut.

Prime Minister Kamla Persad-Bissessar dismissed Opposition Leader Penelope Beckles’ claim that Trinidad and Tobago is in recession, saying instead that the PNM is the group facing money problems, pointing to halted work at its Balisier House headquarters. She also rejected Beckles’ description of the government as a dictatorship, calling it ironic in Parliament.

Opposition PNM leader Penelope Beckles told Parliament that Trinidad and Tobago is in recession under the UNC government, citing two straight quarters of negative growth and forecast economic contraction. In her budget reply, she called Finance Minister Davendranath Tancoo’s 2027 Budget weak and misleading, and accused the government of cutting funding to PNM-run corporations ahead of local elections.

Nicholas Morris defended the 2026/2027 Budget, saying the Heritage and Stabilisation Fund has reached a record US$6.58 billion under the current government and rejecting Opposition claims of mismanagement. He also said municipal corporations are receiving more funding, questioned past national security spending, and argued Trinidad and Tobago is recovering rather than in recession.

Prime Minister Kamla Persad-Bissessar says government revenues should help taxpayers, not support loss-making state enterprises, and is defending plans to divest them. She claimed Lake Asphalt’s finances collapsed under the previous administration, leaving the company bankrupt and alleging millions were lost through declining assets and undelivered bitumen.

Tobago will receive 5.48 per cent of the national budget, or nearly TT$3.5 billion, through a new allocation formula that the Tobago Chamber says is a fairer share for the island. Chamber chairman Curtis Williams welcomed the change but urged the Tobago House of Assembly to spend it transparently on infrastructure, tourism and health care.

Prime Minister Kamla Persad-Bissessar has dismissed Opposition Leader Pennelope Beckles’ criticism over the timing of calypso icon Mighty Sparrow’s funeral, calling it insensitive to make a political issue of it. Beckles had objected to the funeral clashing with her budget response, but the Prime Minister said her speech would finish before the service begins, allowing her to attend.

Opposition Senator Amery Browne said the Government’s $250 pension grant increase in the Fiscal 2027 Budget does little to help seniors facing higher living and medication costs, while cuts elsewhere leave vulnerable people under pressure. Former finance minister Colm Imbert also argued the rise will not reach many pensioners because the $5,500 cap was not lifted, affecting those who receive both old age and NIB pensions.

Patriotic Front leader Mickela Panday criticised Finance Minister Davendranath Tancoo’s 2025 budget presentation, saying it relied on rhetoric and repeated promises rather than clear evidence of delivery. She questioned the Government’s spending plans, job-creation claims, and refinery restart proposal, and urged a stronger focus on food security, local enterprise and real opportunities for young people.

TTMA president Emil Ramkissoon said VAT refunds must be paid on time because the money belongs to manufacturers and helps fund reinvestment, expansion and export growth. He welcomed the budget’s modernised VAT system, a 25% excise tax cut on alcohol and steps against illicit trade, while urging similar relief for tobacco and stronger support for doing business and exports.

Former public utilities minister Marvin Gonzales says the Government’s planned electricity surcharge of five cents per kilowatt-hour on residential use above 3,000 kWh is illegal and breaches the RIC Act. He urged customers to challenge the move, saying the Regulated Industries Commission—not Cabinet—has the authority to set utility rates. The Government says about 90% of households will stay below the threshold.

Opposition Leader Penelope Beckles has accused the Government of political discrimination over development funding, saying it must publish the criteria used to allocate public money. She pointed to steep cuts for PNM-controlled municipal corporations, including Arima, and warned the reductions could affect roads, housing and other infrastructure in those communities.