Charles: Tobago economy not devastated

Chief Secretary Kelvin Charles says that, contrary to the view of some, the Tobago economy has not been devastated, and that with a $2.229 billion national budget allocation and an additional $300 million in loan financing for development projects, the island was “in a good position.”

Speaking with the media following the presentation of the 2018/2019 national budget at the Parliament Building, Port of Spain, by Finance Minister Colm Imbert, Charles said a $300 million loan financing facility would be appropriate, and “when you take that in addition to what has been allocated, it means that we are in a good position to continue with our construction and development programmes.”

“In Tobago, contrary to the view of some, the economy has not been devastated,” he added.

Imbert announced a budgetary allocation to the THA of $2.229 billion. Of this $1.979 billion would be for recurrent expenditure, $231.63 million for capital expenditure and $18 million for the Unemployment Relief Programme. The allocation is 4.30 percent of the national budget.

“As we monitor the fiscal out turn in the coming year, further consideration will be given to additional allocations for Tobago at the time of the mid-year review, in or around April 2019, as we did in 2018,” Imbert said. He also said the ministry has agreed to approve loan financing by the THA for its development projects up to an additional $300 million in 2019 and that another $1.055 billion is allocated for expenditure in Tobago by various government ministries and statutory authorities.

Commenting on the budget, Minority Assemblyman Farley Augustine, said the People’s National Movement (PNM) administration must be blamed for Tobago’s economic troubles.

“It is highly disingenuous of the Minister to ride into the House and behave as though he is a saviour of Tobago, when in fact he and his colleagues are responsible as they have been stewards of the island for the last 18 years and must therefore take full responsibility for the economic destruction of the island of Tobago,” said Augustine, who is the Representative for Parlatuvier/ L’Anse Fourmi/ Speyside.

“When the Minister of Finance speaks about the transportation service between the islands that has been decimated, he should really be taking the blame for his colleagues who have destroyed transport between the two islands. “When we are talking about the destruction of the tourism sector, the domestic tourism sector especially, then they too must take the blame. When we talk about the economic hardships on the island of Tobago, the PNM must take the blame and so logically, if Tobago has to see an economic turnaround then the people has to get rid of the PNM, it’s as plain and simple as that,” he said.