Budget 2016/2017

[dude2014]

MY CONCERN WITH THE BUDGET IS ITS EFFECT ON THE Debt TO GDP RATIO

Go on the MSN home page and see the 20 countries drowning in debt. With Debt to GDP ratio as high as 100% plus. My concern with the budget is the armchair Economist, Budget Analyst, Faine Richards and others who always seem to get muddled midway through their ramblings. Decrease expenditure means decreased GDP and an increase in the Debt to GDP ratio. DONT GET ME STARTED ON THE $IB ROADSHOW. I have made this point before. This is Moody’s further downgrade of the Economy. Check Moody’s record in the US Financial Crisis of 2008/2009.

The issue of 7% Online Tax is probably important. On $1k purchase the tax is $70.00. Land and building Taxes or Property tax is relevant as you are paying partly for the Roads, TTEC, WASA, Schools, Hospital, Police/National Security, The Civil Service that keep records and issue you with ID, DP, etc. The other taxes like PAYE, VAT, Health Surcharge, Corporation pays part of the balance for the above services. And of course there is gas and oil ............ THE BLACK CURSE OF THE CARIBEAN, I MEAN T&T.

AS the OLD SAYING SAYS .....SS, GAS, GRASS, NO ONE RIDES FREE.

The complaint about transfers and subsidies were long and bitter. So why are we subsidising electricity, housing and score of other things? The allowance for autistic children, milk for new borns were removed?

As Trini does say “ doh worry .........” I nah worried

[sMASH]

Why I hadda pay tax for carmona to spend it on Rum?
Of what use is that to me, or the country?
And I thought, u not supposed to be jinkin on the job?

I wonder what doubles will raise to... still Did Not buy for a couple months now.

[EFFECTIC DESIGNS]

So when this 7% thing coming into effect

Also how are they able to sustain out current rate without devaluing the money? perhaps we have a lot more US Currency than we are being told? how long can we tolerate the 6.8 to 1 US? before it goes out of control like other countries?

[dude2014]

So when this 7% thing coming into effect

Also how are they able to sustain out current rate without devaluing the money? perhaps we have a lot more US Currency than we are being told? how long can we tolerate the 6.8 to 1 US? before it goes out of control like other countries?

You could read my post above. That is part of the problem. The thing is we are in deep deep snow....... Well at least according to Princess Anna.

[EFFECTIC DESIGNS]

^ Ok yes I read it good post it appears as though we are certainly quite a good distance inside a deep latrine, we however have not reached the bottom yet where things will really get interesting.

[desifemlove]

6/10. too much on stablisation, not enough on diversification.

Diversify where?

never mind...lol

[nos_specialist]

Powder up yuh necks dey gyal...budget fete tmr

[desifemlove]

^ I feel the same way, not gonna be bullied into supporting these PNM financiers by buying their nasty 3rd world rejected models. Will pay the 7% online yes. Atleast I know Amazon is honest and they never tried to scam me like these local Trini stores.

As a matter of fact because I have been a customer so many years, I once bought an item from a 3rd party seller, he sent a non working video card and never responded to my email for a refund, Amazon gave me the refund in full on my credit card when I complained. That in itself Amazon deserves my money over these local frauds who charge MONEY for WARRANTY and then show you the middle finger by saying they don't have parts to fix it.

Not to mention the amount of these dishonest stores locally are selling refurbished items and passing it off as "new" when you open the box you can clearly see how many of these stuff are not actually new as they claim, repossessed items from financing etc. A lot of 3rd party sellers on Amazon does the same but at the end of the day you have the choice of buying directly from Amazon LLC and you are guaranteed to get genuine new.

T&T is a small economy, and the government knows people need to shop outside for good ting. provided it's a temporary measure and can be relaxed once the fiscal position improves, why not? PNM know FOREX is a challenge, and they also know that people get better ting overseas, and will remain that way for years. There are products that simply don't sell in T&T, since global firms don't sell them in Caribbean due to small size/small revenues. Nothing wrong with the online tax.

[mark2.0]

After all the price increases and taxes it feels shitty living in trinidad now

Yeah boy, and especially with the speed limit and diesel gone up.

[*$kїđž!™]

After all the price increases and taxes it feels shitty living in trinidad now

Yeah boy, and especially with the speed limit and diesel gone up.

And the high crime rate which the govt turns a blind eye too

Trinida gone true within a year.....no care to sing the national anthem anymore....

[EFFECTIC DESIGNS]

I actually find it incredibly amazing what a deep dark latrine Trinidad has fallen into within just 1 short year.

Man vote for this with a straight face?

[Slartibartfast]

After all the price increases and taxes it feels shitty living in trinidad now

Yeah boy, and especially with the speed limit and diesel gone up.

And the high crime rate which the govt turns a blind eye too

Trinida gone true within a year.....no care to sing the national anthem anymore....

First time in my life I really feeling to fly out. Liming get more expensive. Going for a drive get expensive. Can't enjoy nature without fear of being robbed in a secluded area. Can't buy nice things cuz they getting taxed to high heaven and don't get me started on the price of trying to own a house.

Look like all most people could do now is slave away hoping not to lose their job and keep paying rent.

BRB... I feel I going to check the scene in the sufferer thread.

[Slartibartfast]

lol @ beating the system.

do you alert the courier company and customs when they under value your items? this is 99% the reason most ppl import stuff

What courier company are you with? My stuff from amazon and ebay has the bill taped to the outside with the amount I paid on it. It is valued according to that price.

E-Zone, Inviare, REdX, Web Source, Aeropost

have experienced this with all, sometimes the value on the courier invoice is correct, often it is way below the correct price, and this is common knowledge, most times they open to just verify item and no price, most times invoice in box and no even touched.. most ppl ordering on amazon and other sites would often put the item as a gift, so there is no invoice at all...

I honestly never knew about the gift thing. All my packages have signs of being opened and stuck back with bright red tape when I get it. The invoice is always inside. I check the shipping calculator and what I pay has never deviated more than 10% of that when I have checked. I have not checked in a while.

I am with shipwebsource btw.

In case you still to daft to get what I am saying, I have never informed customs because I have never had reason to do so. So what exactly is your point.

Are you saying that additional tax is the answer to corruption or incompetence. Why not try to enforce the tax that is there? What is your point? You repeating the same garbage over and over again like it is supposed to mean something.

[EFFECTIC DESIGNS]

Yeah Trinidad really get shitty now, but Imbert said it himself he said the nice life has to end once and for all, he is punishing the public at all cost even Richard Noray a staunch PNM says this. So what more you could ask for?

Quality of life has deteriorated in Trinidad, in the past they would steal the oil money and give us 3rd world service. But today they have introduced heavy Tax dollars Imbert says we must pay what first world countries are paying in order to have an improved standard of living. But guess what? it is as we expected they taxing us and still squandering and thiefing out the money. They lied about the rapid rail remember paying property tax and removing subsidy so they can provide a first world mass transport system? now look what they are doing we are getting WORSE service, crime is way out of control you can't go anywhere without being robbed or kidnapped while we pay through the teeth in taxes it used to be we would settle for sub standard because we didn't pay much taxes and everything was subsidized but now it makes more sense to just fly out to another country. Atleast the taxes you pay will be put to good use elsewhere. No thought is even given to diversification so we just waiting for oil to run out now and it won't be long.

So we are essentially more in line with countries like Bolivia and Republic of Congo etc. At this point it is evident that Trinidad is now too far gone down the latrine to ever recover We now know what we have long suspected which is we are traveling at terminal velocity towards the bottom of a very deep latrine

[Slartibartfast]

(give up designer clothes and luxury items and/or cheaper brands/products only found online) and buy the locally sold counterparts and support the local economy

Where do you think locally sold cars and electronics (laptops, cell phones, watches etc.) come from. Two major sources of FOREX leakage? What about stuff like running shoes?

Those items alone cater for 95% of the US I am responsible for leaving this country. How will buying those thingseeking locally stop that?

Btw, just want to give a shout out to the honest power sellers on tuner who I actually check first before I buy. I bought a car and all my phones over the past 8 years or so from sellers here in tuner. So I really don't understand what you saying. Notice those things are still my biggest causes for FOREX leaving the country because of me. But I know they will be forced to pass their cost increase on to me meaning a decrease in my spending power. This would mean I am less likely to buy. This would mean a negative effect on economic stimulation.

[Morpheus]

Real doomsday vibes in here bai.....
Allyuh raising allyuh pressure

[EFFECTIC DESIGNS]

Real doomsday vibes in here bai.....
Allyuh raising allyuh pressure

No choice dog, just look at what is happening nowhere to turn, can't even say you will go back to UNC because thats another corrupt wasteful Cabal its like a cobra in a basket waiting for you and on the other side of the bridge is a corrupt incompetent PNM that lied to the population about first world this and first world that with all the taxes they gonna bring and turns out? they lied about everything just fulling their pocket. You can't even go out without some thug robbing you or kidnapping you.

The incentives to live in Trinidad was subsidized fuel and pretty much no taxes that kept things nice. None of that is here anymore, what do we have? in America when you pay your property tax and all these other taxes they actually use it to fix the roads the payvements, provide public transport etc. Down here they take it but we get the same old lame duck excuses, the money thief out and we eh know who thief it so hard luck. The oil and gas running out, the world may never see high oil prices again either since Iran and USA are pumping oil now outstripping supply and demand and they lied about diversifying.

At this point in time it is best people think about a future outside of Trinidad it is clear by now.

[*$kїđž!™]

relax.....u guys voted for this.....

[EFFECTIC DESIGNS]

relax.....u guys voted for this.....

Not me padner, but I know people who voted PNM with a straight face.

At this point it seems as if the Cabal UNC was a better fit even if they was thiefing by the billions. Atleast life was good?

I have a padner from Chaguanas who just applied for refugee status in Germany before Imbert could even finish reading the budget. No idea how that will turn out.

[eliteauto]

made it easier to discuss the budget intelligently

[drchaos]

Get ovah allu self and be more innovative!

[EFFECTIC DESIGNS]

Eliteauto while I agree about the whole engaging in flame baiting thing which people do and I agree there is nothing more irritating than reading "We red and hungry" was pretty funny at first though, but pretty annoying now, you cannot deny what is happening to this country. You simply cannot turn a blind eye to this. Imbert is incompetent people voted based on a number of things the rapid rail was one of them the lie was removal of fuel subsidy to fund the rapid rail and now it turns out it was a lie and the fuel subsidy is still being removed.

Whatever incentives we had in this country is now long gone. Everything in the grocery is spiraling out of control, the business men are taking advantage of the incompetence of Imbert, poor people are suffering now more than ever. And it is not because of low oil prices, Imbert is unqualified for the job and not just academically he has no experience and therefore no clue what he is doing. Watch and see what happens next month in the grocery just wait. Sh!t eh hit the fan yet, wait for it yuh go see how crime will increase.

[Duane 3NE 2NR]

Here's a look at the top 10 announcements of the 2017 National Budget.

1. Diesel price raised by 15% to $2.30.

2. Property Tax returns, with a flat rate of three percent to be applied under the old Act

3. Online tax takes effect October 20 - 7% charge on purchases brought in via courier companies or air freight​

4. New tax bracket of 30% on individuals whose income exceed $1 million per annum

5. No immediate sanctions on FATCA

6. More affordable housing to come on stream in 2017, with the construction of 2500 homes

7. Tobago to get new international airport terminal

8. New gas fields to come on stream in 2017, 2018

9. Increased tax on alcohol (20%), tobacco (15%)

10. GATE reform expected to save $150 million by 2018

11. 25 percent rebate on households with electricity bill of $300 or lower

12. No taxes on agro-processing operations - must be 75% processed, grown or harvested in T&T.



Total estimated expenditure: $53.475b

Total estimated revenue: $47.441b

Oil priced at $48-50

Gas priced at $2.25/MMBTU



Allocations as follows:
National Security: $7.625b

Education: $7.222b

Health Sector: $6.250b

Transport: $2.087b

Public Utilities: $3.293b

Works and Transport: $2.087b

Local Development and Local Government: $1.919b

Agriculture: $766M

Housing: $664M

[cherrypopper]

I have to drop my electric bill to 299.

[EFFECTIC DESIGNS]

^ who electric bill does even be $299?

Ent they does charge nearly $100 on each bill just to rent the meter? to have a meter live?

[cherrypopper]

I don't think they charge rent for a meter but anything is possible however this issue and thread will die a natural death in 7 days so I won't worry.

[Cantmis]

1475296639977.jpg (14.78 KiB) Viewed 1529 times

[redmanjp]

^maybe for alcohol and cigs but is too much for people to dismiss so quick

[pseudorandom]

unfortunately, some of you really can't understand the point of all of this and are still trying to cheat the system and think you are entitled to all these luxury items you import instead of buying locally and supporting local businesses and employment..

this all just flies over your heads..

and of course some business will raise prices as a knee jerk reaction, but smart business will cease the opportunity to under price competition and sell volume instead of aggressive markup

but this too will prob fly over your heads ...

If local business cannot compete with a foreign business selling the exact same item at retail price, plus shipping costs, plus skybox shipping costs, plus duty and VAT costs, then the local business is doing something very wrong. Why don't the smart local business seize the opportunity to under price the disadvantaged foreign competition that has all these extra costs? Local business need to step up their game with a free market system instead of protectionism.

[*$kїđž!™]

They would never live up to that electricity rebate promise....they will find a way to ensure you are charged 301$