Finance Minister Dave Tancoo’s prime time on Monday for his 2027 Budget presentation was another feat of the Government’s use of strategic planning, among United National Congress (UNC) mainstays.
Yesterday, Opposition People’s National Movement (PNM)Leader Penny Beckles’ Budget reply shared the spotlight with the legendary Slinger “Mighty Sparrow” Francisco’s state-assisted funeral, prompting Beckles to use parts of Sparrow’s lyrics to lash the UNC Government with.
Strategy was in sync with the core of Tancoo’s Budget for the upcoming Local Government election year: careful planning amid continuing challenging circumstances. But the package produced only marks time into LG period, minus active direct solid economic solution, compounding obvious concerns on T&T’s position.
Tancoo’s lack of direct positives on economic footing, telltale information and continuing promises of “more,” indirectly assisted Beckles’ warnings, including on recession, which anyone on the “ground” would have known months ago (and been mentioned here before, as induced by the UNC’s actions).
Tancoo’s ringing declaration “Promised! Delivered—More to come!” interjected throughout his presentation and certain Budget concessions gave just enough to possible voter-potential sectors: seniors, youths, small/medium business, Marabella West house seekers. The message held sufficient urgency to assure prospective voters that the Government is working on further finds for T&T—and the so far economically lukewarm Budget, isn’t all.
It’s prompted speculation that a bland Budget 2027 is a political appetiser—and a full-blown election Budget will come between September and October 2027 with th Local Government election by November.
The LG terms ends in August 2027, with elections due within subsequent three months—September, October and November.
Banking on 2027 energy prospects/plans, it’s ahead if “more” will be unveiled by the June 2027 mid-year review. Or the 2028 Budget, which may be presented around September/October 2027.
Tancoo’s $63.868B package, pitching to targeted sectors, also balanced the political equation, introducing revenue-ripe streams away from voters towards non- resident classes. With fiscal frown to categories which the Government seems to feel need discipline.
Budget framework has magnified how much Government is strapped for revenue and immediate opportunity—and that it has continued treading the economic boards routinely with only traditional pre-election offerings injecting colour.
Tax breaks. Tax takes. Energy driving the $3B State Enterprises Investment Programme. Funding reduced Public Sector Investment Plan. State asset divestment. Little tangible of the Prime Minister’s promised “thousands of jobs, billions in investment.”
Whether Tancoo’s ministerial colleagues—whom he said would give details—have bigger news than his, is ahead.
Beyond their revelations, following recent strengthening of T&T-Venezuelan relations, this column confirmed that a Venezuelan team of private sector and Sucre State government officials will visit T&T over October 26/27 for a business roundtable.
Among potential revenue Government’s seeking, it’s ahead what public reaction arrives regarding Government’s bonds and securities investment pitch to middle-income earners. Response will also add to signals on the economy’s state—and level of citizens’ trust in the UNC Government.
Economic realities were also telegraphed by Government’s allocation reduction for the Tobago House of Assembly: less than 2026, much less than requested for 2027. It challenges Tobago—new airport in hand, hotels on the hoof—to get cracking.
How much consolation THA members took from the PM’s promise for Tobago independent senators was seen in Chief Secretary Farley Augustine’s reminder of the process necessary. However, independents have always been selected from Tobago: Dr Eastlyn McKenzie, James Armstrong, Dr Victor Wheeler, Ronald Duke, Dr Maria Dillon-Remy, Zola Phillips, Candice Jones-Simmons.
Apart from constitutional changes needed to order the President to appoint more—with Senate President Wade Mark’s vote likely ready—the Budget also revealed upcoming legislation facilitating some measures.
Amid curtailed procurement scrutiny, Government can expect monitoring of its PPP housing thrust; $20m procurement of TTPS vehicles (after nil information on initial suppliers); TTPS equipment procurement; consultants for Budgeted tasks; buyers for divested assets—and the Piarco International Airport’s $17m runway repavement project, tipped for foreign partnership involvement.
Whether Tancoo’s optimistic “More to Come” corrects Budget deficiencies, or Beckles’ ominous “More To Come” prevails, trade unions’ October 30 march won’t be the last word on the package. Citizens’ bills always tell them more accurately than Parliamentarians.
