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Saturday, April 12, 2025

?Op­po­si­tion Leader says T&T in re­ces­sion

??Budget offers 'no hope'

by

20090911
?Opposition Leader Basdeo Panday delivers his response in Parliament yesterday to Finance Minister Karen Tesheira's fiscal package.

?Opposition Leader Basdeo Panday delivers his response in Parliament yesterday to Finance Minister Karen Tesheira's fiscal package.

Op­po­si­tion Leader Bas­deo Pan­day says the 2009/10 na­tion­al bud­get of­fers no hope for the peo­ple of T&T. Pan­day said so dur­ing his three-hour bud­get re­sponse in the House of Rep­re­sen­ta­tives yes­ter­day.

It was the first time he re­spond­ed to a bud­get in three years be­cause in the first in­stance his Cou­va North seat was de­clared va­cant be­cause of a court rul­ing and on the sec­ond oc­ca­sion he was sus­pend­ed be­cause of his fail­ure to heed a rul­ing by Speak­er Baren­dra Sinanan about the use of a lap­top com­put­er dur­ing the par­tic­u­lar sit­ting. Pan­day warned that af­ter the $44.3 bil­lion bud­get was ap­proved the Cen­tral Bank would re­veal the true state of the na­tion­al econ­o­my. "The da­ta which the Cen­tral Bank will pro­duce con­ve­nient­ly af­ter this Bud­get de­bate is fin­ished will show that T&T is in fact, un­de­ni­ably in a re­ces­sion." He said the coun­try's econ­o­my was in trou­ble be­cause of the reck­less spend­ing and mis­man­age­ment of the econ­o­my by the Patrick Man­ning ad­min­is­tra­tion over the past sev­er­al years. "The on­ly plan the gov­ern­ment has is to spend, spend and spend," Pan­day added. He said the bud­get "of­fered noth­ing to spark a resur­gence in any sec­tor of the econ­o­my." He said the Op­po­si­tion UNC had no con­fi­dence in the Min­is­ter of Fi­nance's pro­jec­tion of pos­i­tive growth in 2010.

"We see noth­ing to en­gen­der pub­lic con­fi­dence and to stim­u­late con­sumer spend­ing. We see noth­ing here to stem the fall in busi­ness con­fi­dence." He said the Fi­nance Min­is­ter was en­gag­ing in a course of ac­tion that would burn a huge hole in the coun­try's for­eign re­serves in fis­cal 2010. He then warned of "a very re­al pos­si­bil­i­ty of a se­ri­ous prob­lem." Pan­day al­so warned of an im­mi­nent de­val­u­a­tion. "The Gov­ern­ment's reck­less ex­pen­di­ture pat­tern is push­ing this coun­try to­wards a pos­si­ble de­val­u­a­tion in the short term.". To this PM Man­ning re­spond­ed telling Pan­day: "That was very ir­re­spon­si­ble." Pan­day said Tesheira should make a firm state­ment on that mat­ter dur­ing the de­bate. He not­ed that the Re­view of the Econ­o­my, which was pre­sent­ed with oth­er bud­get doc­u­ments was not pre­sent­ed this year. He said that was con­tempt of Par­lia­ment. Dur­ing his re­sponse, Pan­day was heard cough­ing on sev­er­al oc­ca­sions, prompt­ing Prime Min­is­ter Patrick Man­ning to ad­vise him to "stay out of the dew at nights", to which Pan­day re­spond­ed: "If we had a good health sys­tem here I would not be like this." Pan­day was very crit­i­cal of Tesheira say­ing the bud­get was on­ly about "spend­ing, spend­ing and spend­ing." Pan­day said cit­i­zens still slept on the floor in pub­lic hos­pi­tals, the ed­u­ca­tion sys­tem was ir­rel­e­vant to the na­tion's needs, the agri­cul­ture sec­tor re­mained un­de­vel­oped, the man­u­fac­tur­ing sec­tor was on the de­cline, the min­i­mum wage is un­ac­cept­ably low.

"The on­ly thing grow­ing in this coun­try is crime," Pan­day said. He ac­cused the Gov­ern­ment of en­gag­ing in pub­lic re­la­tions gim­mick­ry and fail­ing to keep promis­es to cit­i­zens. Pan­day made a di­rect call to Prime Min­is­ter Patrick Man­ning to re­move World record hold­er and for­mer West In­dies crick­et cap­tain, Bri­an Lara from the sta­di­um be­ing con­struct­ed in Tarou­ba, south Trinidad. "Mr PM for the sake of Bri­an Lara, re­move his name from that," he added to sus­tained desk-thump­ing. Pan­day said the Gov­ern­ment was un­able to say last week when the project would be com­plet­ed and at what cost. "And you call that pru­dent man­age­ment. I won­der what our zeal­ous Min­is­ter of Fi­nance has done to en­sure trans­paren­cy, ac­count­abil­i­ty and val­ue for mon­ey on that project," Pan­day added.

?Traf­fic of­fences

Deal­ing with the sig­nif­i­cant in­crease in penal­ties for road traf­fic of­fences to re­duce the car­nage on the na­tion's roads, Pan­day said it would not work. He sug­gest­ed in­stead that po­lice of­fi­cers be equipped with speed guns. "If the Min­is­ter was re­al­ly se­ri­ous about ad­dress­ing the car­nage on the roads she would have im­ple­ment­ed the Breathal­yser. These fines are pure and sim­ple des­per­ate at­tempts to prop up gov­ern­ment ex­pen­di­ture." He said the Gov­ern­ment was seek­ing to "fill a void caused by squan­der ma­nia." Deal­ing with tints on ve­hi­cles, Pan­day said em­ploy­ees of the Li­cens­ing Di­vi­sion were be­ing put at a dis­ad­van­tage in the ex­e­cu­tion of their du­ties as a spe­cial piece of equip­ment is re­quired to prove that a tint was il­le­gal. He said the prop­er­ty tax was "in­fa­mous and no­to­ri­ous." He said the ini­tia­tive to in­crease ex­ist­ing prop­er­ty tax­es was "a des­per­ate at­tempt to raise funds to sat­is­fy the gov­ern­ment's spend­ing craze." He said the Prop­er­ty Tax was a "re­gres­sive" mea­sure and sug­gest­ed that the mea­sure should be with­drawn.


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