…….”Workers have not been left out”
By FRANCIS JOSEPH
It was a Budget for the Pensioners and the vulnerable.
Minister of Finance, Davendranath Tancoo, delivered his 2026-2027 Budget in the House of Representatives on Monday afternoon.
It was a presentation lasting two and a half hours and before a packed public gallery.
There was a crowd outside the Red House to meet and greet the Parliamentarians on both sides.
Even Prime Minister Kamla Persad-Bissessar SC, who normally disembarks in the Red House compound, stepped out onto Abercromby Street to greet her supporters.
Inside the Parliament Chamber, Tancoo delivered a $63.3 billion Budget.
Increase in Personal Allowance for pensioners
Tancoo said, “In fiscal 2026, we provided meaningful relief to thousands of senior citizens by making their private pensions tax-free. However, many pensioners, particularly retired public officers, remain subject to tax on pension income exceeding $90,000. Our public officers have given decades of service to this country and deserve greater financial security in retirement.
“I therefore propose to increase the Personal Allowance for pensioners from $90,000 to $102,000 per year. This measure will provide approximately $11 million in tax relief to pensioners and will take effect from January 1, 2027.”
Tancoo continued, “Mr. Speaker, in fiscal 2026:
* Under the Senior Citizens Grant over $4.2 billion was spent to support 123,393 pensioners;
● Under the Public Assistance Grant over $233 million was spent to support 15,525 persons;
● Under the Disability Assistance Grant over $569 million was spent to support 27,071 persons; 64
● Under the Food Support Programme over $102 million was spent to support 37,066 households;
● Under the Chronic Disease Assistance Programme 124,945 citizens received essential prescription medication, valued at $35.6 million;
● Over $171 million was spent on subsidised PTSC services, supporting more than 3.47 million passenger trips; and
● $53.0 million was spent on subsidised Water Taxi Service for over 423,000 passenger journeys. These social interventions represented an expenditure of more than $5.3 billion to ensure that pensioners, families, persons with disabilities, patients and those dependent on public transportation receive the support they need to live with greater financial security.”
Strengthening Support for Our Most Vulnerable Citizens
The Minister went on, “As mentioned earlier we propose to increase, the Senior Citizens’ Grant, Public Assistance Grant and Disability Assistance Grant will be increased by $250 per month. These measures will cost an additional $555 million and take effect from January 1, 2027.
“We are a Government that cares. The last time that the Senior Citizens’ Pension was increased was 12 years ago, under the then Prime Minister Kamla Persad-Bissessar. Today, this Kamla Persad-Bissessar Government will increase the Senior Citizens’ Grant by $250 per month, putting more money into the pockets of 124,000 senior citizens.
The Public Assistance Grant will be increased by $250 in each tier benefitting 13,637 recipients; the Disability Assistance Grant for adults and eligible children will also be increased by $250. This is expected to benefit 28,000 recipients. These increases will put more money directly into the hands of those who need it the most and will be effective January 1st , 2027.”
Honouring Our Commitment to Wage Negotiations
Workers have not been left out.
Tancoo said, “I report next on the progress made by this UNC Government on fulfilling our promise to public servants. Despite trying financial circumstances, in December 2025, the UNC Government provided for a partial cash payment of $230 million to PSA members.
“In 2027 and based on the Chief Personnel Officer’s proposal to pay 40 percent of outstanding arrears in cash, we have an allocation in fiscal 2027 to meet this obligation. We have also allocated:
● $252 million for NUGFW new wage rates and COLA and $510 million for arrears; ● $44.9 million for arrears for Port of Spain City Corporation;
● $45.4 million for arrears for San Fernando City Corporation; and
● $281.8 million for arrears for the Defence Force.
This represents close to $2.5 billion which we are putting in the hands of current and retired public officers. This Persad-Bissessar Government did more for the Workers’ Agenda in 18 months than the PNM did in 10 years. We intend to continue engaging with trade unions with unresolved negotiations including, the OWTU, the TIWU, the Trinidad and Tobago Postal Workers’ Union and Contractors and General Workers’ Trade Union representing workers at T&TEC, UWI, UTT, NP, NatPet, the National Training Agency, National Quarries, YTEPP, National Helicopters, MTS, PTSC, TTPost and LATT.”
SUPPORT FOR THE TOBAGO BLUEPRINT
Tobago was not left out. Tancoo said, “Pathway to Prosperity 2026–2030 and the THA’s fiscal 2027 programme represents a shift towards investment that delivers measurable results, expands productive capacity and creates opportunities for the people of Tobago.
“I am pleased to announce that this Government is allocating $2.756 billion to the Tobago House of Assembly for Fiscal 2027, representing 4.35 percent of the National Budget. However, there is more. In addition, a further $716.5 million will be spent by various Ministries on services and projects for the benefit of Tobago. In this regard, the total allocation to Tobago in fiscal 2027 will be $3.473 billion which equates to 5.48 percent of the National Budget.”
