Budget for fiscal year 2011-2012

Budget presentation in Parliament at the Waterfront Complex

Budget Statement 2012
Finance Minister Winston Dookeran presented the National Budget for the fiscal year 2011-2012, in Parliament, at the Waterfront Complex, in Port of Spain, this afternoon. Below is the full text of the budget speech:

Heckles in Tower D
AS Finance Minister Winston Dookeran read Budget 2011/2012, the Opposition bench quips were probably no worse than on prior sittings in the Red House, but the small size of the new parliamentary chamber in Tower D of the International Waterfront Centre meant the tiniest comment was heard by all, exaggerating the impact of the “offence”.

Minimum viewing space in gallery

$3,000 Pension: Benefits for retirees, homeowners, disabled
People who receive National Insurance pensions, prospective homeowners, the disabled and national security officers are the big winners in Finance Minister Winston Dookeran’s $54.6 billion budget which was presented in the new Waterfront Parliament yesterday.

Rowley: Budget filled with deceit

Rowley: Govt silent on revenue

PM defends deficit

…Kamla: $7 billion deficit is okay
PRIME Minister Kamla Persad-Bissessar was unfazed by the $7 billion deficit in Budget 2011/2012, saying this was an okay price to pay for spurring growth, speaking to reporters after the Budget yesterday at Tower D of the International Waterfront Centre, Port-of-Spain.

Jack unhappy with Works $
WORKS and Infrastructure Minister Jack Warner yesterday said he was unhappy with funds his ministry was allocated in the 2012 Budget. However Warner said he has no choice but to make those funds work.

Dookeran: Investor confidence up

An optimistic budget for sure
In his presentation of the budget for the 2012 fiscal year, Minister of Finance Winston Dookeran attempts to lay the foundation for the Trinidad and Tobago economy in the medium term but, in doing so, the country may be exposed to some significant downside risks if the world economy continues to slow as has been widely predicted.

London: No emotion on THA $2B

… ‘Nothing generous about Tobago allocation’

Govt to look out for GATE abuse

Focus on CNG to reduce fuel subsidies

Gas licences to go up

‘Land for the landless’

Farmers: What about us?
Farmers representatives are concerned that this year’s Budget has not addressed issues of land tenure, and a dedicated labour plan for the agricultural sector, among other issues.

Hazel Brown happy with NIS amendments

$1,000 more for Prisons, Fire, Defence Force officers

…Protective services happy with $1,000 boost for all

Unions welcome benefits
The Prisons Officers’ Association is “extremely” happy that the $1,000 tax-free allowance has been included in the 2011-2012. The association also welcomed the plan for a job evaluation exercise since it would raise the salary levels of prison officers.

One thought on “Budget for fiscal year 2011-2012”

  1. Dookeran: I never shrunk the economy
    FINANCE Minister Winston Dookeran yesterday declined to take blame for the past year’s 1.4 percent contraction of the TT economy, and said the private sector must help to create growth.

    Dookeran: No easy way out by raising taxes

    No property taxes this year says Dookeran
    For yet another year, citizens of T&T will not have to pay any property taxes as the Finance Minister said it was unlikely the Government would be able to collect in the 2012 fiscal year.

    ‘Govt losing $400m revenue in property taxes’
    WITH the property tax legislation still not implemented, this country has foregone between $300 million and $400 million in revenue, according to Ernst and Young partner Wade George.

    Govt to collect only $15m in land, building taxes
    GOVERNMENT expects to collect $15 million in land and building taxes over the next fiscal year, according to the Draft Estimates of Revenue, which was tabled in the House of Representatives on Monday.

    PNM Blanked: No police permission to hold post-budget meeting
    Commissioner of Police Dwayne Gibbs has rejected the People’s National Movement’s application for a public meeting at Piggott Corner on Friday.

    …Gibbs blanks PNM on budget meeting

    Rowley’s new look — minus balisier tie
    OPPOSITION LEADER and People’s National Movement (PNM) political leader Dr Keith Rowley cut a suave look at the presentation of the 2012 Budget in the House of Representatives at Tower D of the Port-of-Spain International Waterfront Centre on Monday.

    $$ for OPM decreased
    TOTAL expenses for the Office of the Prime Minister decreased this year over last year’s figures, according to Budget documents released this week.

    $$ for buses, water taxis, airports

    $773 million for roads and bridges
    AN allocation of $773 million has been made in the 2012 Public Sector Investment Programme (PSIP) to continue ongoing projects with respect to roads and bridges.

    Budget 2012: Unionists oppose proposed divestment of FCB
    Finance Minister Winston Dookeran’s 2012 budget presentation on Monday has been met with mixed reviews by trade union leaders.

    Economist warns of abusing deficits
    HE BILLION-dollar budget deficit is an “appropriate strategy” which is needed at this time to help stimulate the economy, but it is an option that should not be abused, economist Dr Ronald Ramkissoon has said.

    Govt to keep close eye on GATE returns
    The Government Assistance for Tuition Expenses (GATE) will be reviewed to more pertinently address the labour market in Trinidad and Tobago. “We need to take a critical look at GATE

    Roget: Need to address ‘turmoil’ in labour sector
    The $1,000 special allowance granted to the protective services in the 2011-2012 budget will do nothing to bolster the morale of demotivated officers, says president general of the Oilfields Workers’ Trade Union (OWTU) Ancel Roget.

    Dookeran hopes for early end to wage talks

    $1.6B for Police
    THE TRINIDAD and Tobago Police Service (TTPS) is to get an allocation of $1.6 billion, an increase of $195 million, over last year, according to Budget documents released this week.

    Call to wean public from gas subsidy
    Energy economist Gregory Mc Guire believes T&T is heading for a downward economic spiral because of Government’s unwillingness to wean the public from its dependence on gas subsidies.

    Walkover for Wrightson Road
    Some $300 million has been allocated in the 2012 budget for the projects under the Road Infrastructure Programme, including the construction of pedestrian overpasses at Wrightson Road, MovieTowne, Oropune and Charlieville. This is contained in the Public Sector Investment Programme 2012.

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