The Finance Minister says the unemployment levy on petroleum companies will rise from 5% to 8%, effective January 1, 2027.
Trinidad and Tobago is relying on new projects to reverse a decline in natural gas supply. Yet the success of this Budget depends on execution, not promises.
The business community needs a competitive economy, investment and a clear path to growth. But how can businesses expand when they cannot obtain the FOREX needed to import raw materials, equipment and essential supplies?
Government cannot expect businesses to shoulder higher taxes while struggling to access US dollars. New projects will mean little if companies cannot obtain the foreign exchange needed to operate.
YOU CANNOT BUILD A GROWING ECONOMY WITHOUT FOREX.
The real test of this Budget is whether it creates jobs, attracts investment and restores confidence. More taxes alone will not deliver economic growth.
Gordon Laughlin,
Westmoorings
