Budget 2021/2022

[88sins]

Did somebody say riot?

Nah
They quick to say roti though.

People in this country, for all their scheming and smartman antics, they repeatedly keep doing the same dumb crap every 5 years

[hover11]

Did somebody say riot?

Nah
They quick to say roti though.

People in this country, for all their scheming and smartman antics, they repeatedly keep doing the same dumb crap every 5 years

Tomorrow is the day and tbh I expect anything but fulfilling just another lackluster deficit budget

[MaxPower]

Max is your brain turning into sewage?

Max,

Are you crazy, can you imagine another 5 years of this

Friends,

And Godd is a Trini, what allyuh worrying about?

[hover11]

Max is your brain turning into sewage?

Max,

Are you crazy, can you imagine another 5 years of this

Friends,

And Godd is a Trini, what allyuh worrying about?

Max,

God gave up his citizenship from this backwater country a long time ago

[aaron17]

Expect gas rush and long lines tomorrow for no reason ..steups
trinis rel stupid

[zoom rader]

PNM 2025

Dat plate out yet?

[zoom rader]

Did somebody say riot?

Nah
They quick to say roti though.

People in this country, for all their scheming and smartman antics, they repeatedly keep doing the same dumb crap every 5 years

Stupid country filled with half Stupid ppl brp

[hover11]

Is Max a red government Elite?

[timelapse]

Max is Guyanese.He doesn't count

[SuperiorMan]

Fed up of this f.ucking sheit.

[zoom rader]

Max is Guyanese.He doesn't count

Yup he is Guyanese.

[The_Honourable]

Imbert: Need to reduce subsides or face collapse



WHEN he steps up to the podium this afternoon to deliver his seventh budget presentation, Finance Minister Colm Imbert will have a real dilemma: does he continue running the economy with borrowed funds and withdrawals from the Heritage and Stabilisation Fund (HSF) or does he opt, for the first time, to impose fiscal discipline on the population?

At a news conference on June 15, 2021, Imbert signalled that the Government is finally prepared to impose more fiscal discipline, by reducing the subsidies and transfers that account for about half of Trinidad and Tobago’s total expenditure.

He said: “One of the reasons why we have been able to maintain our investment grade rating, even amidst all of this chaos, is that the Government has been doing its own adjustment.

“So that when we came in September 2015, the annual expenditure was in excess of $60 billion. We have that down now to $50 billion, so we have cut annual expenditure by about 20 per cent.

“But we have work to do, because we have to look at the money that is spent by way of subsidies on the supply of water, electricity and fuel.

“Because, even though what some of the economists say is outrageous and ridiculous—when they tell us that we should only spend $35 billion and it does not matter what happens; 50,000 people could get retrenched. That’s is the kind of foolishness that comes out of our university—we as a Government have to keep looking at the deficit between revenue and expenditure because you cannot go on forever spending significantly more than you earn.”

He said: “So we have to look at things like subsidies on fuel, water and electricity and we have to deal with it. Because last year, we had a deficit of $16 billion and this year, I am not sure what it would be, but it may be more than $10 billion. And that money has to be borrowed or withdrawn from the Heritage and Stabilisation Fund. You can’t keep doing that forever as that would be totally irresponsible. So unfortunately, we have to deal with these issues that have been left unattended for so long...”

So the Finance Minister clearly understands that recording six budget deficits in his six presentations is leading the country to a point of debt unsustainability.

Already, the T&T public sector debt outstanding (excluding debt issued for sterilisation purposes) is close to $130 billion, and its debt to GDP ratio is pushing onto 90 per cent.

The minister understands that if he does not start to reduce the subsidies on fuel, water and electricity, as well as introduce the property tax—as he signalled at his June 15 news conference—he is setting the country up for economic collapse.

And a formal debt restructuring arrangement with the much-maligned International Monetary Fund (IMF).

While imposing higher fuel, water and electricity costs and introducing the property tax may be the appropriate economic path to take, the Minister is first and foremost a politician...always with an eye on the next election.

He would have read yesterday’s Sunday Express pre-budget coverage when most of the people interviewed by reporters Camille Hunte and Donstan Bonn complained about the spiralling cost of food and called on him to do something about it.

As a politician, he knows there are many people who hold the Government responsible when the nation’s largest industrial bread maker and one of its largest candy manufacturers increase their prices.

The Minister of Finance would also have read last week’s Monetary Police announcement, in which the Central Bank stated: “On the domestic front, supply-side factors—notably a surge in international commodity prices such as sugar, wheat and vegetable oils; higher shipping costs; transportation delays; and adverse weather conditions—have led to a discernible increase in food prices.

“The latest information from the Central Statistical Office shows that food inflation (year-on-year) rose from 3.2 per cent in January to 4.9 per cent in July 2021. The largest increases were recorded for vegetables, fruits, milk, cheese and eggs. Core inflation (which excludes food items) remained relatively contained at 1.6 per cent in July 2021, with headline inflation measuring 2.2 per cent, but these could rise further in coming months in light of recently announced increases in transportation fares.”

The Central Bank is suggesting that the increase in the price of flour, cooking oil, sugar, rice and pasta is a global issue, which has been heightened by sharp increases in global shipping costs. But also that the prices of these staple foods are likely to increase in the near future for domestic and international reasons.

How does Imbert explain to the population that the global increase in the price of food staples is something over which he has very little control?

And how does he explain that the only short-term policy that a T&T minister of finance can impose to reduce the impact of higher food prices is by lowering import duties on food imports or by further reducing the rate of VAT of food staples?

But reducing import duties or cutting VAT will reduce revenues to the Government at a time when an increase in revenue is needed.

And Imbert is constrained from doing anything that impacts T&T’s revenues, because the country has this serious issue of fiscal deficits and rising debt.

But does he go ahead and announce austerity measures today: the reduction in fuel, water and electricity subsidies and the introduction of the property tax, knowing that those measures will have almost-immediate consequences on the cost of living—especially the price of food and transportation?

Given his track record, Imbert will be reluctant to impose austerity measures on the population.

He has always preferred to kick the can of fiscal discipline down the road...hoping that some miraculous, sustained increase in the price of T&T’s commodity exports would relieve him of the burden of correcting its prolonged fiscal deficits situation.

Source: https://trinidadexpress.com/news/local/ ... e8034.html

[zoom rader]

Expect more crime as red government ppl will be katching their arses to make ends meet as cost of living goes through the roof.

But they will still vote fred

[hover11]

Expect more crime as red government ppl will be katching their arses to make ends meet as cost of living goes through the roof.

But they will still vote fred

Why? Why would you continue voting for a party that just makes you suffer, is it they like to suffer?

[Blaze d Chalice]

Expect more crime as red government ppl will be katching their arses to make ends meet as cost of living goes through the roof.

But they will still vote fred

Why? Why would you continue voting for a party that just makes you suffer, is it they like to suffer?

I mentioned this a while back.
PNM or UNC in power does not really affect me because I secured financially.
My vote could be for free, or even for sale if I wanted money.
But when you look at the history, you can see most of the areas of highest PNM support are also coincidentally, the highest sufferers. So it can only be inferred that these people just love and crave suffering. That is what they live for, and want their children to experience the same or worse.

So I am happy to give the people what they want, and this is one of the main reason I vote PNM.

Hopefully Colmos brings back, or increases tax on all educational items. Keep them duncey headed.
If he does that, I will ensure PNM stay till 2030

[shake d livin wake d dead]

Predictions?

[88sins]

Expect more crime as red government ppl will be katching their arses to make ends meet as cost of living goes through the roof.

But they will still vote fred

Why? Why would you continue voting for a party that just makes you suffer, is it they like to suffer?

You asking people to speculate on why idiots behave like idiots?
EDIT
ok I'll take a stab at it.
Probably because of the perception that pnm is an afro-oriented party, because when you look at the demographic for the areas where trinis ketchin their arses the most and living in the worst conditions, is mostly afro-trinis in those areas.
Beetham, Laventille, morvant, diego, carenage, etc. All diehard "pnm till ah dead" areas, riddled with crime, bad roads, no water, drugs, high illiteracy rates, most people working low paying jobs, etc.

[Dave]

I know whatever is done the ppl won't riot and he knows that already.
If after 6 yes all the cut back he's cutting back hasn't produced favourable results what makes him think it will be different this time.
The definition of insanity is doing the same thing over and over expecting different results.

[timelapse]

Mental slavery still alive and kicking.Just a different massa

[88sins]

I know whatever is done the ppl won't riot and he knows that already.
If after 6 yes all the cut back he's cutting back hasn't produced favourable results what makes him think it will be different this time.
The definition of insanity is doing the same thing over and over expecting different results.

They want to think trinis won't riot, but they also know that if given the correct motivation the people will engage in civil unrest and then they screwed.
Meaning, when you and your family and everybody else in your village starving and can't even get a belly full of water all while being taxed to death and then seeing them politicians living large, you go see how fast "they eh riot yet" turns into "ohshittheyriotingwescrewed"

[daring dragoon]

Saw a few gas statiin closed. Idk if i was yoo early but usually the gas station closes when np has to come an change the price on the pumps.

Speculate cooking gas increase as well as diesel an super.i expect tax breaks for cng an other clean energy to distract the population. Solar energy for homes as waht gas station did in couva so to reduce ttec cost. Solar for schools an govt business as maybe the solar suppliers done get the tip off. Speculate mass transit system with more buses an tax right off for purchase of big cng / hybrid buses from private companies. I predict ways to stifle forex by the home user by online purchase so increase opt an interest on Cc. I predict creation of new jobs from mega farms an govt run processing for grain meat fish an veges. Limits on amount of children from now on. Increase prices for rum an other luxury items. No mention of food prices as transport increase worldwide is temporary because of covid. Opening of the market to tje african union bring products an workers to TT.

[Ben_spanna]

Hope allyuh got you new blinging phones already, heard the freeness of duty free done in 2 weeks and that duties imposed on importing tablets and phones going to be hit with a 150% import duty plus vat!

[SuperiorMan]

How all yuh gonna celebrate today? Gonna order the new KFC special.

[Dizzy28]

I predict most Tuners predictions in this thread would be wrong!!

[mero]

I predict most Tuners predictions in this thread would be wrong!!

As usual.

Year 6 of deading under the PNM and eating grass

[VexXx Dogg]

I feeling to pull a greenday today.

Wake me up, when the budget ends.

[Cantmis]

Robin Hood

[Dohplaydat]

I would be pleasantly surprised if there are cutbacks (removal of more subsidies, devaluation, privatization) in this budget. It's either now or 2022, however, right now is the best time to make unpopular decisions. It's still in height of covid and years away from an election.

[pugboy]

is the baby grant still in effect ?

[hover11]

I would be pleasantly surprised if there are cutbacks (removal of more subsidies, devaluation, privatization) in this budget. It's either now or 2022, however, right now is the best time to make unpopular decisions. It's still in height of covid and years away from an election.

True trinis only have a 7 day memory by election time they comfortable