No development in next 100 years

Tobago economist Dr Vanus James
Tobago economist Dr Vanus James

Economist Dr Vanus James believes Tobago will not achieve serious development in 100 years if the Tobago House of Assembly (THA) budget continues to focus on one percent economic growth yearly.

Speaking to Newsday on Tuesday after the THA budget statement was presented on Monday by the Finance and the Economy Secretary Joel Jack, James described the $4.72 billion budget as child’s play.

He said the budget will not benefit Tobagonians as the THA is once again “begging” Central Government for an amount that will not be approved. He said the THA was coming with empty hands without any success or update on internal self-governance.

“This is not serious, the plan is not working and yet they report they have turned the economy around, that is just old talk. This budget is not going to deliver anything just as their own data suggests, and every year for the last 20 years we have gone cap-in-hand begging.”

James said the island remains poorer than Trinidad and this needs to be addressed meaningfully.

“The output per person of Tobago is about US $4,700 in last year and the year before. It allows me to compare that to the national output per person of US $16,200 for TT. So Tobago is four times poorer than Trinidad and that is what we have to solve as a development problem.”

The output of Tobago must grow from TT $1.7 billion to TT $6 billion, Dr James said.

“It will take Tobago about 25 years growing at five per cent per year for that to be achieved. They are here promising one per cent growth next year – that will not allow us to achieve development. Their own estimates are saying they don’t expect any development in 100 years. At one per cent rate we cannot expect serious development to be achieved.”

James said the THA is not showing competence and repeating its mistakes.

“This is a government that has passed all sorts of legislation of all sorts of things and simply comes back this year with an excuse that they didn’t get the internal self-governance bill done. So we must wait on that, and meanwhile we continue to beg; and we know what we will get will be about $2.5 billion but they are going forward with this request for $4.7 billion.”

Last year the assembly requested TT $4.58 billion but was allocated TT $2.229 billion.

James said Tobago will have its fair share when a serious plan is implemented and self-governance is granted. “They promise they will be getting self- governance and that will change the way we would make progress on the island and it will change the conditions for budget day.”

He said the THA budget has always spoken about economic development but the budget has never outlined the developmental challenges existing on the island. He said the 2019 THA budget statement also failed to address those challenges in a serious way.

“The evidence in the present budget is that the economy declined last year, despite several years of pursuing what they called a development programme – CEDP (Comprehensive Economic Development Plan). The programme which was intended to allow the Tobago economy to grow, even if the national economy declined, didn’t work. So they clarified nothing on how the development programme is supposed to be working the next year, even though it hasn’t been working in the last four years.”

James said at the current rate the island won't achieve the self-sufficiency it desires. He said the THA cannot continue to boast about a $212 million revenue yearly and be satisfied.

He believes the continuous funding of the same projects and programmes has not benefited the development of the island as intended. James said it is now the THA’s responsibility to redirect their plans into a workable solution to generate real growth.

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"No development in next 100 years"

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