Live blog: BUDGET 2024
![Finance Minister Colm Imbert - File photo by Ayanna Kinsale](https://newsday.co.tt/wp-content/uploads/2023/09/8072526-e1710531701355-1024x683.jpg)
The 2024 budget will be read in Parliament by Finance Minister Colm Imbert at today's sitting, starting at 1.30 pm.
Join us for live coverage and updates with reactions from members of the public, analysts, economists and other stakeholders.
This will be Imbert's eighth budget presentation since he was appointed finance minister on September 11, 2015.
Use the hashtag #ttbudget2024 and include our handle @Newsday_TT to join the discussion.
Finance Minister Colm Imbert said he will introduce a school supply grant of $1,000 for needy students in 2024.https://t.co/AmGhlhh9KU
— T&T Newsday (@Newsday_TT) October 2, 2023
Finance Minister Colm Imbert said he will introduce a school supply grant of $1,000 for needy students in 2024.https://t.co/AmGhlhh9KU
— T&T Newsday (@Newsday_TT) October 2, 2023
The pan manufacturing industry came under focus in the 2024 budget presentation, when Finance Minister Colm Imbert said nine pan manufacturers had benefited from a grant.https://t.co/hOYlOuHhIW
— T&T Newsday (@Newsday_TT) October 2, 2023
Budget debate will be held on Friday October 6th at 1:30pm.#ttbudget2024
— T&T Newsday (@Newsday_TT) October 2, 2023
Finance Minister Colm Imbert said the government will not increase or decrease any existing taxes in 2024.#ttbudget2024
— T&T Newsday (@Newsday_TT) October 2, 2023
Finance Minister Colm Imbert indicated if the government abolishes income tax it would bankrupt the country and we would find ourselves 'in the cold steamy hands of the IMF.'#ttbudget2024
— T&T Newsday (@Newsday_TT) October 2, 2023
The reach of the adult literacy programme, he said, has been expanded "to include CEPEP and URP workers, among others. This will add 4,000 people per annum to the programme, and would be voluntary.https://t.co/RcwVAFI2yH
— T&T Newsday (@Newsday_TT) October 2, 2023
Imbert said the minimum wage will be increased by 17 per cent from $17.50 to $20.50 per hour to benefit 19000 people in the work force from Jan 1 2024.#ttbudget2024
— T&T Newsday (@Newsday_TT) October 2, 2023
#ttbudget2024 @Newsday_TT Imbert predicates budget on global oil price of US$85 (WTI) and natural gas at US$5.
— sean douglas (@DouglasNewsday) October 2, 2023
Finance Minister Colm Imbert said the government will allocate an additional $80 million for new vehicles and equipment for the police to expand and establish more community patrols. #ttbudget2024
— T&T Newsday (@Newsday_TT) October 2, 2023
Despite recording a significant loss of over US$913 million last year, Finance Minister Colm Imbert has said the Heritage and Stabilisation Fund is performing well. https://t.co/xOQFzVsdRV
— T&T Newsday (@Newsday_TT) October 2, 2023
Imbert said $19.5 million will be allocated in 2024 for a community arts and craft initiative in communtiy centres across TT. #ttbudget2024
— T&T Newsday (@Newsday_TT) October 2, 2023
Finance Minister Colm Imbert said $39 million will be allocated to foster and promote community sports in 2024.#ttbudget2024
— T&T Newsday (@Newsday_TT) October 2, 2023
#ttbudget2024 @Newsday_TT Imbert said $7.7 m will be spent to introduce Junior Achievement programmes to 40 primary and 40 secondary schools. $39 m will be spent to fund community sports activities
— sean douglas (@DouglasNewsday) October 2, 2023
Finance Minister — An additional $4.5 million will be allocated for the purchase of 16 handheld scanners to aid with detection at the nation's ports.#ttbudget2024
— T&T Newsday (@Newsday_TT) October 2, 2023
Finance Minister Colm Imbert said the government has awarded an estimated $90 million contract for the supply, delivery, installation and commisioning for four large scale, non-intrusive, inspection scanners to be operational in 2024 for TTs ports. #ttbudget2024
— T&T Newsday (@Newsday_TT) October 2, 2023
#ttbudget2024 @Newsday_TT Opposition MPs audibly scoff as Imbert says police claimed to have contained crime.
— sean douglas (@DouglasNewsday) October 2, 2023
#ttbudget2024 @Newsday_TT Imbert said this year's fuel subsidy was likely $812 m, last year's was $2.4 b, and next year's could be $1 b.
— sean douglas (@DouglasNewsday) October 2, 2023
#ttbudget2024 @Newsday_TT Imbert said TT has region's cheapest electricity, barring Cuba, but noted in TT it is highly subsidised.
— sean douglas (@DouglasNewsday) October 2, 2023
#ttbudget2024 @Newsday_TT Imbert wants more credibility, trust and accountabilty of the police to the public
— sean douglas (@DouglasNewsday) October 2, 2023
Finance minister Colm Imbert said the government has mandated the Commissioner of Police to triple the intake of police recruits from 300 to 1000 in 2024 in a bid to combat the crime situation in Trinidad and Tobago. #ttbudget2024
— T&T Newsday (@Newsday_TT) October 2, 2023
Finance minister Colm Imbert said the government will allocate $60 million in 2024 for the resumption of the market box programme.#ttbudget2024
— T&T Newsday (@Newsday_TT) October 2, 2023
Finance Minister Colm Imbert says the 540-bed Central Block of the Port of Spain General Hospital will be completed in March 2025.https://t.co/iIKGpaP5oz
— T&T Newsday (@Newsday_TT) October 2, 2023
Finance Minister Colm Imbert stated there are currently 110,890 citizens in receipt of pensions at an annual cost 3.35 billion dollars.#ttbudget2024
— T&T Newsday (@Newsday_TT) October 2, 2023
$1.05 billion to be invested in WASA, says Imbert #ttbudget2024 @Newsday_TT
— sean douglas (@DouglasNewsday) October 2, 2023
#ttbudget2024 @Newsday_TT Imbert announces a training programmes for new tech/voc teachers.
— sean douglas (@DouglasNewsday) October 2, 2023
#ttbudget2024 @Newsday_TT Imbert hits "ever changing booklists" which puts too strain on families. He proposed a $1,000 grant to 65,000 needy pupils
— sean douglas (@DouglasNewsday) October 2, 2023
Finance Minister Colm Imbert says discussions will be held in 2024 on the continual revision of school text books, which he says is causing financial strain to parents as the new ones barely have any changes. #ttbudget2024 @Newsday_TT
— Narissa Fraser (@rhopico) October 2, 2023
Finance Min Colm Imbert boasted that the govt has implemented a 4 year property improvement plan for the Hilton Trinidad and Conference Centre positioning it to compete better, retain customers for good business and long-stake projects and contract airline crews. #ttbudget2024
— T&T Newsday (@Newsday_TT) October 2, 2023
Finance Minister Colm Imbert stated that the improvements to the Hilton Trinidad and Conference Centre will enhance the overall attractiveness of Port of Spain as a location for business tourism with a workforce of 420 persons.#ttbudget2024
— T&T Newsday (@Newsday_TT) October 2, 2023
Modernising Trinidad and Tobago’s sporting infrastructure remains top priority for the government over the next fiscal year.
So said Colm Imbert, Minister of Finance, during Monday’s presentation of the 2024 annual budget.https://t.co/675joty7m1
— T&T Newsday (@Newsday_TT) October 2, 2023
Finance Minister Colm Imbert said the government is in the design process of manufacturing green hydrogen for downstream ammonia production based on growing international demand and for recycling plans to address waste management issues. #ttbudget2024
— T&T Newsday (@Newsday_TT) October 2, 2023
$24 m given in 262 loans, and $153 m in 733 loans, to SMEs says Imbert #ttbudget2024 @Newsday_TT
— sean douglas (@DouglasNewsday) October 2, 2023
Finance Minister Colm Imbert has said 2,400 fit-for-purpose laptops will be distributed to students and selected staff through a network of 94 secondary schools.https://t.co/Zuf62mBRQY
— T&T Newsday (@Newsday_TT) October 2, 2023
#ttbudget2024 @Newsday_TT Imbert hails a jump in non energy exports from $2.1 b in 2021 to $2.4 b in 2022
— sean douglas (@DouglasNewsday) October 2, 2023
#ttbudget2024 @Newsday_TT We need to fundamentally change our practice of agriculture, Imbert said, promising $250 m injection for farmers and $150 m for facilities at Palo Second.
— sean douglas (@DouglasNewsday) October 2, 2023
Finance Minister Colm Imbert said that the government is making 2400 fit-for-purpose laptops available to students and associated staff through a network of 94 secondary schools.#ttbudget2024
— T&T Newsday (@Newsday_TT) October 2, 2023
11. Reconstruction of the Caroni Savannah Road
12. Clarke Road slope stabilisation— T&T Newsday (@Newsday_TT) October 2, 2023
5. Endeavour interchange upgrade
6. Monroe Road interchange upgrade
7. Sir Solomon Hochoy highway Chaguanas to Chase Village project
8. Maraval access project
9. San fernando Bypass to Torouba linkroad
10. Indian Trail overpass— T&T Newsday (@Newsday_TT) October 2, 2023
Finance Minister Colm Imbert listed 12 upcoming road and infrastructure projects out of hundreds:
1. Churchill Roosevelt Highway widening from Andrew Lane to O'Meara
2. O'Meara Road upgrade project
3. Tumpuna Road network upgrade
4. Sangre Grande traffic circulation improvements— T&T Newsday (@Newsday_TT) October 2, 2023
#ttbudget2024 @Newsday_TT TTWiFi to be available in transport hubs, hospital waiting rooms and libraries, says Imbert
— sean douglas (@DouglasNewsday) October 2, 2023
#ttbudget2024 @Newsday_TT Imbert wants a rise in TT's daily gas production if 2.7 billion cubic feet. He relates Dragon Gas Field saga including a waiver of US sanctions against Venezuela, relating in Energy Minister recently signing a new deal for gas exploitation under Shell
— sean douglas (@DouglasNewsday) October 2, 2023
Finance Minister Colm Imbert listed 12 upcoming road and infrastructure projects out of hundreds:
1. Churchill Roosevelt Highway widening from Andrew Lane to O'Meara
2. O'Meara Road upgrade project
3. Tumpuna Road network upgrade
4. Sangre Grande traffic circulation improvements— T&T Newsday (@Newsday_TT) October 2, 2023
#ttbudget2024 @Newsday_TT "Promises Never Materialise" muttered one male UNC MP across the Parliament floor, as Imbert promised road upgrades
— sean douglas (@DouglasNewsday) October 2, 2023
#ttbudget2024 @Newsday_TT Colm Imbert promised an agressive road rehab program in 2024, earning an audible "humph!" from one UNC MP.
— sean douglas (@DouglasNewsday) October 2, 2023
#ttbudget2024 @Newsday_TT Colm Imbert said NIB has a big gap. He said he's now in process of completing consultations on actuarial proposals to raise retirement age from 60 to 65. Has had favourable reactions from unions, he said.
— sean douglas (@DouglasNewsday) October 2, 2023
#ttbudget2024 @Newsday_TT Speaker rises when MP Khadijah Ameen interrupts Imbert as he rolls off a list of the Govts hospital upgrades/constructions. Ameen muttered, "Couva Hospital", spurring Speaker's rise
— sean douglas (@DouglasNewsday) October 2, 2023
Finance Min. Colm Imbert said the govt has determined that an increase in the retirement age from 60 - 65 yrs will support pension adequacy & the system's sustainability. The govt is now in the process of completing consultations with stakeholders on the retirement age increase.
— T&T Newsday (@Newsday_TT) October 2, 2023
Imbert - 72% of businesses have no business bank account, 88% don't accept digital payments, 55%of individuals don’t know how to use mobile or web digital banking. A National Financial Inclusion Roadmap to be developed to assist the financially excluded.#ttbudget2024 @Newsday_TT
— Paula Lindo (@PaulaRILindo) October 2, 2023
#ttbudget2024 @Newsday_TT Imbert says in 2024 gambling legislation will be fully proclaimed (since it's passage in 2021) and Gambling Commission will operate, to attract local and foreign investment in that sphere
— sean douglas (@DouglasNewsday) October 2, 2023
Finance Minister Colm Imbert says 72% of this country’s businesses do not have a business bank account; 88% don’t accept digital payments. #ttbudget2024 @Newsday_TT
— Narissa Fraser (@rhopico) October 2, 2023
#ttbudget2024 @Newsday_TT Colm Imbert boasts of online payments of HDC bills, driving fines, and money to/from EMA, Immigration Division and Nedco.
— sean douglas (@DouglasNewsday) October 2, 2023
#ttbudget2024 @Newsday_TT HDC clients can now pay bills at home on laptops, via e-payments, says Imbert
— sean douglas (@DouglasNewsday) October 2, 2023
#ttbudget2024 @Newsday_TT HDC clients can now pay bills at home on laptops, via e-payments, says Imbert
— sean douglas (@DouglasNewsday) October 2, 2023
As was the case in fiscal 2023, Government has again allocated $6.2 billion to the Public Sector Investment Programme.https://t.co/E3LvUvnM3k
— T&T Newsday (@Newsday_TT) October 2, 2023
#ttbudget2024 @Newsday_TT Imbert is concerned at forex woes. Will create new arrangements for forex access by SMEs using credit cards, plus repatriation of money earned abroad by businesses
— sean douglas (@DouglasNewsday) October 2, 2023
#ttbudget2024 @Newsday_TT Imbert will give each municipal corporation $8-12 million while property tax collection mechanisms take time to be ramped up
— sean douglas (@DouglasNewsday) October 2, 2023
#ttbudget2024 @Newsday_TT Imbert said when land owners get property tax bill, it will end a charade perpetrated by critics. Reckons p/ tax runs from $41-250 per month, respectively for properties of monthly rent of $1,800-$10,000
— sean douglas (@DouglasNewsday) October 2, 2023
Finance Minister Colm Imbert said the collection of property taxes will be effective in the financial year 2024.#ttbudget2024
— T&T Newsday (@Newsday_TT) October 2, 2023
Imbert - I have completed the drafting of regulations for awarding of projects up to a value of $1million and sent them to the procurement regulator for her review and comment, with the object of implementation at the earliest possible time. #ttbudget2024 @Newsday_TT
— 🎵Words, words, words, I'm so sick of words🎶 (@PaulaRILindo) October 2, 2023
#ttbudget2024 @Newsday_TT procurement laws bring value, transparency and accountabilty, said Imbert. "However it is still a work in progress."
— sean douglas (@DouglasNewsday) October 2, 2023
Finance Minister Colm Imbert said $346 US million has been deposited, for future generations, by this government into the (Heritage) fund arising from the 2022 oil revenue windfalls.#ttbudget2024
— T&T Newsday (@Newsday_TT) October 2, 2023
#ttbudget2024 @Newsday_TT Imbert reckons TTRA can plug a $10 billion tax gap
— sean douglas (@DouglasNewsday) October 2, 2023
#ttbudget2024 @Newsday_TT TT Revenue Authority is partially functioning, with a board and a strategic plan, as he anticipates it's operation and a smooth transition from existing bodies
— sean douglas (@DouglasNewsday) October 2, 2023
#ttbudget2024 @Newsday_TT Imbert said HSF remained at about US$5.5billion, while other countries' sovereign funds typically lost 20 percent in recent years
— sean douglas (@DouglasNewsday) October 2, 2023
#ttbudget2024 @Newsday_TT Imbert said TT is one of few investment grade countries in the region, according to credit rating agencies
— sean douglas (@DouglasNewsday) October 2, 2023
#ttbudget2024 @Newsday_TT S&P raise of TTs profile has boosted TTs access to international credit, Imbert said, also welcoming improved ratings from Moody's and CariCris.
— sean douglas (@DouglasNewsday) October 2, 2023
#ttbudget2024 @Newsday_TT Prudent management led TT to withstand global external shocks
— sean douglas (@DouglasNewsday) October 2, 2023
#ttbudget2024 @Newsday_TT Imbert claims Govt ran the economy better than critics say, citing recent half billion dollar bond TT recently issued that was hugely oversubscribed
— sean douglas (@DouglasNewsday) October 2, 2023
#ttbudget2024 @Newsday_TT Imbert boasts of TT having right months import coverage, above the three month global benchmark
— sean douglas (@DouglasNewsday) October 2, 2023
Minister of Finance Colm Imbert: Inflation is now, again, on the decline after several years of historically low levels reaching as low as 1% in 2019. Our annualised rate of inflation, which was 5.8% in 2022 is now projected to be 5.1% and 3.4% in 2024 and 2025.#ttbudget2024
— T&T Newsday (@Newsday_TT) October 2, 2023
MOONILAL: 'MY EXPECTATION IS NOT VERY HIGH'
Opposition MP and UNC deputy political leader Dr Roodal Moonilal told Newsday reporter Rishard Khan his "expecation is not very high" for today's budget 2024.
Video by Elexzine Bissoo #ttbudget2024 pic.twitter.com/cuKJXNDi0e
— T&T Newsday (@Newsday_TT) October 2, 2023
'WE WANT KAMLA'
Opposition Leader Kamla Persad-Bissessar spoke to the media ahead of the budget 2024 which will be read in Parliament by Finance Minister Colm Imbert.
Video by Elexzine Bissoo
See the full video on our Facebook and Instagram pages#ttbudget2024 pic.twitter.com/T2TUfZGTk6— T&T Newsday (@Newsday_TT) October 2, 2023
#ttbudget2024 @newsday_tt Colm Imbert began delivery of budget speech at 1.36 pm
— sean douglas (@DouglasNewsday) October 2, 2023
Newsday reporter Rishard Khan gives an update on what is presently happening outside Parliament ahead of today's budget reading by Finance Minister Colm Imbert.
Video by Elexzine Bissoo #ttbudget2024 pic.twitter.com/uyJPGEgUJG
— T&T Newsday (@Newsday_TT) October 2, 2023
'FOSTER MUST GO'
Government MP Foster Cummings arrived at Parliament to the boos of protesters ahead of the budget which will be read on Monday by Finance Minister Colm Imbert.
Video by Rishard Khan pic.twitter.com/BN1mEkLfqF
— T&T Newsday (@Newsday_TT) October 2, 2023
SIPARIA MAYOR ANNOUNCES 'DEATH OF THE PNM'
Protesters, pretending to be undertakers, carried a body to portray the "death of the PNM," outside the Red House, Port of Spain ahead of the budget reading on Monday.
Video by Angelo Marcelle pic.twitter.com/fuqgZoE0CZ
— T&T Newsday (@Newsday_TT) October 2, 2023
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"Live blog: BUDGET 2024"