AGP Executive Report

Budget Debate: Government has rejected Opposition claims that Trinidad and Tobago is in recession, while the 2027 budget faces scrutiny over its growth assumptions and reliance on new taxes. Public Spending: An OPR inquiry found serious procurement and financing flaws in a proposed $3.48 billion HDC housing project, including contracts involving a supplier reported to be insolvent. Housing Minister David Lee, meanwhile, says more than 3,300 homes are planned over 15 months. Services and Security: The budget allocates another $60 million to refurbish UWI’s long-idle South Campus and $10 million for police and Air Guard drone units, as prison drone breaches remain a concern. Port of Spain’s mayor says budget increases for the corporation largely cover back pay, leaving less for community services. Cost of Living: Pensioners welcome a $250 grant increase, but TTARP wants the eligibility cap raised to $6,000 so more seniors can qualify. State Assets: The Government’s proposed sale of Hilton Trinidad, Magdalena Grand, National Quarries and LABIDCO continues to draw concern over jobs and the future of public ownership.

Economic Outlook: Opposition Leader Pennelope Beckles says Trinidad and Tobago is in recession, citing contractions in 2025 and 2026, while Prime Minister Kamla Persad-Bissessar rejects the claim. Economist Vanus James argues that weak policymaking—not just dependence on energy—has held back diversification. State Assets: The Government plans to seek buyers for Hilton Trinidad, Magdalena Grand and National Quarries, while LABIDCO remains under consideration. La Brea residents fear job losses and want guarantees for local workers. Budget Measures: The 2027 budget proposes VAT on streaming services and higher electricity costs; business groups are seeking clarity and warning that new taxes could weigh on investment. Tobago: Beckles calls the proposal for two Tobago Senate seats a distraction from autonomy, while a dispute over who deserves credit for the new airport terminal adds to political tensions. Cultural Tribute: Mighty Sparrow was farewelled at a state-assisted ceremony in Port of Spain. The Prime Minister announced that the Queen’s Park Savannah Grandstand will be renamed in his honour.

Budget Battle: Opposition Leader Pennelope Beckles says Trinidad and Tobago is in recession and gave the 2027 Budget an “F”; Prime Minister Kamla Persad-Bissessar rejected the claim as the two traded attacks in Parliament. State Asset Sales: The Government plans to seek proposals for Hilton Trinidad, Magdalena Grand and National Quarries, while LABIDCO remains under review. La Brea residents fear job losses and want local employment protected if the company is sold. Tobago Airport: The new ANR Robinson terminal has opened, but Keith Rowley and the Government are clashing over who deserves credit for the project. School Fire: Eight classrooms at Canaan Presbyterian School were gutted. Students are expected to continue learning through a temporary programme while safety checks continue. Business and Finance: Richard Sammy has left Republic Financial Holdings three months before he was due to become CEO; Karen Yip Chuck is set to take the role, subject to regulatory approval. Persad-Bissessar says the banking sector remains stable. Scrap Iron: The industry has shut again after its legal extension expired, with the Prime Minister accusing operators of organised crime and theft.

Children’s Services: Government says it has settled $75.57 million in commitments to the Children’s Authority, including an $8.26 million payment, and urged stronger invoice management. Scrap-Metal Industry: Prime Minister Kamla Persad-Bissessar called the sector “organised crime” after its legal extension expired and the industry shut down again; dealers say thousands of workers are affected. Republic Financial: Richard Sammy has left RFHL three months before his planned CEO appointment. Karen Yip Chuck is the incoming chief, subject to regulatory approval. Regional Economy: The IMF says Caribbean growth is getting support from tourism, remittances and commodity prices, but high public debt and limited policy room cloud medium-term prospects. Budget and State Assets: Plans to sell Hilton Trinidad, Magdalena Grand, National Quarries and LABIDCO have raised fears of a “fire sale,” while ministers defend divesting loss-making firms. Local Government: The Senate passed a bill to make Chaguanas a city and establish four new boroughs, despite opposition votes against.

State Assets: Prime Minister Kamla Persad-Bissessar defended plans to divest Hilton Trinidad, Magdalena Grand, National Quarries and LABIDCO, citing Lake Asphalt’s financial decline. Critics say the Government has not made the case for selling public assets, while Hilton workers worry about their jobs. Unpaid Bills: Nurses warn they may take action over wage arrears, which could come without notice. Security firms say WASA owes 13 contractors about $75 million, putting guards’ pay and continued service at risk. Budget & Local Government: Police welcomed a rise in development funding from $70.9 million to $230.5 million. PNM mayors dispute the Prime Minister’s comparison of municipal allocations, saying cuts to development funds threaten roads, drains and community works. Tobago: Pan Trinbago ended its Carnival boycott after the THA settled overdue payments of $1.7 million; its Pan and Powder event is set for October 31. Studley Park quarry also received licences to expand aggregate production, with regional exports a possible source of foreign exchange. Business: Republic Financial Holdings vice-president Richard Sammy has left the bank, months before he was due to become group CEO.

Energy Deals: Shell has contracted the Deepsea Mira for a 150-day Trinidad and Tobago and Caribbean programme from April 2027, while EnerMech won BP Ginger subsea work. Ginger is expected to deliver first gas in 2027. State Assets: The Government plans to seek bids for Hilton Trinidad, Magdalena Grand and National Quarries, saying private ownership could make them profitable; LABIDCO remains under consideration. Budget Outlook: Economists question the 2027 Budget’s projections and warn that new gas projects alone will not end the foreign-exchange shortage. The plan also includes VAT on foreign digital services and higher electricity costs for heavy users. Tobago Tourism: Tobago Carnival is budgeted at $12 million, with debt cut from more than $29 million to under $5 million. Organisers expect 60,000 visitors and are addressing water and utility concerns amid a drought warning. Finance: Republic Financial Holdings vice-president Richard Sammy has left the group, weeks before he was due to take over as president and CEO.

State Asset Sales: The Government plans to sell Hilton Trinidad, Magdalena Grand, National Quarries and LABIDCO. Critics warn against a fire sale, while hotel workers say they need clarity on jobs and employment terms. Budget and Growth: The $63.4 billion 2027 budget adds VAT to foreign streaming services and a surcharge for high-use households. Manufacturers welcome the focus on exports but say timely VAT refunds and clear delivery plans are essential. Economists warn that new gas production alone will not fix foreign-exchange and fiscal pressures; stronger non-energy exports and local production are needed. Tobago Development: The new ANR Robinson Airport terminal has opened to passengers, and construction has begun on a $540 million Marriott resort expected to create more than 500 jobs. Tobago’s $3.47 billion budget allocation has drawn criticism from its leaders, who say autonomy should take priority over a proposal for two Senate seats. Energy: The Government says it will advance a phased restart of the Petrotrin refinery this fiscal year. Public Safety: Police development funding is set to more than triple to $230.5 million, including money for specialist units, vehicles and equipment.

Budget 2027: The TT$63.37 billion plan forecasts a TT$3.64 billion deficit and proposes VAT on foreign digital services, a surcharge for high residential electricity use and tax relief for pensioners. Manufacturers welcomed the focus on diversification but warned that overdue VAT refunds are tying up cash needed to invest and expand. Energy and Investment: Government says it is assessing investor proposals for a phased restart of the Pointe-a-Pierre refinery and plans to seek buyers for state assets including the Trinidad Hilton, Magdalena Grand, National Quarries and LABIDCO. Tobago: The new ANR Robinson airport terminal has opened, while Government plans a TT$500 million Marriott resort. But Tobago leaders say the THA’s reduced allocation falls short of the island’s needs; a proposal for two guaranteed Tobago seats in the Senate will require constitutional change and cross-party support.

Budget & Taxes: The $63.4-billion 2027 budget’s proposed 12.5% VAT on foreign digital services from March could raise $18 million yearly, but experts say the scope and collection rules need clarification and consumers may pay more. A new five-cent-per-kilowatt-hour surcharge on residential use above 3,000 kWh is also facing a legal challenge. Energy: Government says it is assessing investor proposals for a phased restart of the Pointe-a-Pierre refinery, while ExxonMobil has completed its ultra-deepwater seismic survey and is analysing potential drilling targets. Labour: Angostura workers rejected a 4% wage offer, and trade unions are pressing ahead with an October 30 march over pay disputes, displaced workers and job opportunities. Tobago: The new ANR Robinson Airport terminal has opened, alongside plans for a privately financed $540-million Marriott resort expected to create hundreds of jobs. Local Government: The Senate passed a bill to make Chaguanas a city and establish four new boroughs.

Budget 2027: Finance Minister Davendranath Tancoo unveiled a TT$63.368 billion budget targeting a lower deficit of TT$3.639 billion. Education, health and national security receive the largest allocations, while grants for pensioners, people with disabilities and families on public assistance are set to rise by $250. Tobago Funding: Tobago’s allocation totals TT$3.472 billion, below the THA’s TT$4.12 billion request. Chief Secretary Farley Augustine said he was “gutted” by the amount. New Taxes: From March 2027, VAT is planned on foreign digital services, including streaming subscriptions. A surcharge will also apply to residential electricity use above 3,000 kilowatt-hours per two-month billing period. Energy Plans: The Government says it intends to restart the Petrotrin refinery, closed in 2018, citing fuel security and jobs. Business Response: Chambers welcomed some budget measures but said results will depend on implementation, pointing to persistent foreign-exchange shortages, rising costs and red tape.

Budget 2027: Finance Minister Davendranath Tancoo presented a $63.368 billion budget, with a projected $3.639 billion deficit. The package raises senior citizens’, public assistance and disability grants by $250 a month from January, but draws criticism from Opposition leader Pennelope Beckles, who says it lacks a clear growth and jobs plan. Household Costs: A proposed 12.5% VAT on foreign digital services, including streaming, is due from March 2027. From January, households using more than 3,000 kWh of electricity per billing period face a five-cent-per-kWh surcharge. Public Services: Utilities funding rises to $4.087 billion, with plans for water works and desalination projects. Education funding falls by $743 million to $8.033 billion, while nurses say the budget leaves their wage arrears and promised pay increase unaddressed. Tobago Funding: The THA will receive $2.756 billion, down from $2.966 billion last year, and its capital development allocation falls to $150 million. Chief Secretary Farley Augustine says the cuts leave Tobago short of the investment needed. Energy and Jobs: Government says it will pursue a phased restart of the Guaracara refinery, which operator Patriotic Energies backs as a route to energy security and employment.

2027 Budget: Finance Minister Davendranath Tancoo was due to present an estimated $63-billion budget, up from $59.2 billion last year. Ahead of it, Prime Minister Kamla Persad-Bissessar promised to direct state support toward productive, law-abiding citizens. Opposition figures challenged her jobs pledges, while unemployed youths and business leaders called for more work and training opportunities. Trade and Energy: A new TTBizLink ePhyto service lets agricultural exporters apply for and track certificates online; officials estimate it will cut processing time by 60 per cent. EnerMech has also won a Subsea7 contract for pre-commissioning work on the Ginger offshore project, with the company pointing to opportunities for local participation. Tobago Airport: The new East Terminal is due to open to the public on Wednesday, but a resident displaced by the airport relocation says she is still struggling with financial hardship and poor-quality construction at her replacement home. US Visa Claims: Foreign Affairs Minister Sean Sobers denied reports that a sitting minister’s US visa was revoked, saying no serving minister had lost a visa.

Budget 2027: Finance Minister Davendranath Tancoo is set to present an estimated $63 billion budget, with no fuel price increase expected. The government promises brighter days, but the Opposition calls those assurances hollow as workers and young people press for jobs and training. Jobs and Energy: Proman has sent home 100 workers, intensifying concern about employment and the energy sector. Business and labour groups say investment must deliver practical opportunities beyond oil and gas. Police Spending: The TTPS overtime bill is nearing $800 million in 32 months, prompting calls for an independent audit and questions about value for money. Tobago: As the new airport terminal prepares to open, displaced resident Kay Pantin Solomon says poor construction and financial hardship have left her struggling years after relocation. Disaster Readiness: Flood-affected families in South Trinidad still fear the next storm, renewing questions about whether homes and communities are prepared for worsening hazards.

Budget Watch: Finance Minister Davendranath Tancoo presents the 2027 budget Monday as businesses and workers seek a credible plan for jobs, growth and confidence. Prime Minister Kamla Persad-Bissessar promises thousands of jobs and major investment; industry groups urge the Government to use any energy windfall for lasting gains. Energy and Jobs: Uncertainty over gas supply and contract terms continues to threaten Point Lisas industry. Proman has sent home 100 workers, adding to more than 450 direct petrochemical jobs lost over the past year. US Visa Scrutiny: A sitting minister’s US visa has reportedly been revoked, amid reported action affecting officials and businesspeople. The minister’s identity has not been disclosed, and the claims have not been independently confirmed. Regional Trade: CARICOM teams begin assessing whether the region can supply paints, cement, glass bottles and bitumen, findings that could shape future import duties.

Budget Watch: Trinidad and Tobago’s 2027 Budget is due Monday, with calls for it to restore confidence and use expected energy revenues to build lasting growth. Aggregate producers say complex licensing is restricting supply and pushing up construction costs. Energy and Jobs: Proman has sent home 100 workers as Nutrien’s Point Lisas ammonia operations remain shut. Former energy minister Stuart Young blames the Government and NGC for worsening conditions, while the Government faces pressure to protect jobs and the wider industrial sector. Local Government: Debate over municipal reform continues, with the PNM promising to repeal four laws if it returns to office. Critics say changes to boundaries and representation must be matched by a clear, fair funding plan and better services. Food Security: Farmers received eight new rice varieties ahead of planting, part of a push to cut food imports and expand local production.

Social Support: The Government has distributed $1.61 million to Child Welfare League, Childline and New Life Ministries for services to children, families and women. Health: NCRHA reports 8,400 major surgeries and 15,000 other procedures under its new board and management. Jobs & Energy: Proman has laid off about 100 workers at Point Lisas; Nutrien employees are seeking legal advice over severance after the company’s shutdown decision. Policing & Politics: The Prime Minister defended nearly $794 million in police overtime payments since 2024, as the Opposition vows to repeal four recently passed laws if it returns to office. Water & Tourism: Brown-water complaints continue to fuel demands for clearer safety information, while Tobago’s Rocky Point development proposal pits large-scale tourism investment against community-led growth and environmental concerns. Carnival & Food Security: CARPHA and the NCC trained more than 200 vendors for Carnival 2027; separately, a US Embassy-backed roundtable sought investment to reduce T&T’s food import bill, which exceeds US$1 billion a year.