Tobago gets biggest ever slice of budget pie

TOBAGO has received a whopping $3.72 billion allocation from Government to manage its affairs in fiscal 2026 – the largest allocation in the island’s history.

Finance Minister Davendranath Tancoo made the announcement during the $59 billion budget presentation in the House of Representatives on October 13.

In its budget presentation in June, the Tobago House of Assembly (THA) requested a $3.71 billion allocation for fiscal 2026. As has been the tradition, during the near ten years that the PNM was in power, the THA's budgetary requests were never met by the then Rowley administration, as the island got less than it asked for.

In 2024, the THA asked for $3.956 billion but got $2.599 billion from then finance minister Colm Imbert.

Tancoo told the House, “I have taken note of the budget proposed by the THA and their national agenda. In that vein, I am proud and happy to announce that in this fiscal year I have been directed by my prime minister to allocate $2.96 billion to Tobago House of Assembly which represents a full five per cent of the national budget!”

Tobago East MP David Thomas and Tobago West MP Joel Sampson could not contain their glee as they joined Government MPs in sustained desk-thumping at Tancoo's announcments. Tancoo looked at both Tobago MPs and smiled broadly as he made the announcement.

“However, that is not all, in addition, a further $763 million will be spent by various ministries of Tobago. In total then, the allocation to Tobago for the fiscal year 2026 will be $3.72 billion, which equates to 6.3 per cent of the national budget. Mr Speaker, when UNC wins, Tobago wins!”

TOBAGO CHAMBER GRATEFUL

In an immediate response, Tobago Chamber of Industry and Commerce president Curtis Williams told reporters, “As we have seen, Tobago has got the largest pie they ever got in a very long time and we appreciate that from the national government, for giving Tobago a meaningful portion of the budget, which represents 6.3 per cent, equivalent to $3.72 billion.

“We in Tobago are excited for that sort of funding coming across. Our only concern is how they (the THA) are going to spend that money. It must be spent in a manner that is transparent and there must be value for money.”

He thanked Government for living up to its general election slogan: “When the UNC wins, Tobago wins.”

Delving into aspects of the presentation, Williams welcomed Government’s plan to introduce direct flights from the US to Tobago.

“That is a real plus for Tobago. The tourism sector will be really happy about that. This is going to spark a stir, a buzz in Tobago.”

He also welcomed its plan to open the new multi-million terminal of the ANR Robinson International Airport in the second quarter of fiscal 2026.

“That is a spark for next year. We are looking forward to it. It is the second quarter of the fiscal. It might be in time for March. That will be a bit of excitement coming in there for us.”

The reduction in super gasoline by $1, Williams said, will help many businessmen, who have routinely use their vehicles to transport goods across the island.

He also noted the Government’s interest in moving ahead with the Marriott-brand hotel development and the Elephant Tree project.

“Those are really important for us in Tobago and we are happy about that because with the expansion of the airport and the new terminal buildings, we definitely look forward to having rooms. And with these hotels on island, getting the room stock will be a real valuable thing for us and we are really happy about that.”

Describing the budget as good, Williams urged the THA to “do the prudent thing and show us how you are going to spend that money in a wise situation."

“We know we have challenges with vendors not being paid. There are challenges with contractors who haven’t been paid. So I know the finance secretary (Petal-Ann Roberts), she is a technical person and she will come up with solutions as to how she is going to treat with paying off or at least reducing these debts to the business folks in Tobago.”

GEORGE IS CAUTIOUSLY OPTIMISTIC

Tobago Business Chamber chairman Martin George was cautiously optimistic.

“The minister of finance, in his budget presentation, as regards Tobago, seems to be saying all the right things and hitting all of the right notes…but the reality is while we have seen the numbers before in terms of what previous allocations have been, the question is, how does the THA manage the money going forward for the best use and best development of Tobago,” he said in a WhatsApp video.

Referring to the plans announced for the opening of the airport and the two hotel projects, he said, “All in all the government does seem to be giving a facilitative and supportive hand to Tobago in terms of its tourism thrust and development and in terms of its macro-economic outlook.

"And we think that in those circumstances once there is proper delivery by those in charge of the THA and proper management and harnessing of our fiscal and human resources and the abilities of the people of Tobago, there is a chance that the economy of Tobago can see an improvement based upon this year’s budget presentation.”