Tuesday February 9th, 2010
- Last update:9 hours 44 min ago
$6-billion deficit in 2010 budget—Browne
Published: 4 Oct 2009
There will be a $6 billion deficit in the 2010 budget, says Minister in the Ministry of Finance Senator Mariano Browne. In announcing a three-year budget deficit, Browne said while 2011 would also be planned with revenue being less than expenditure, by 2012 the Government expects to turn the corner and once again come to the country with a budget with revenue being greater than expenditure.
This was indicated by Browne during a Balisier House meeting with People’s National Movement (PNM) field officers and Women’s League members yesterday afternoon. Browne had met the PNMites to explain the rationale behind the 2010 Budget and in particular the Government’s intention to revise property tax. The Government is hoping that the revised property tax system will lead to tenants having to pay less steep monthly rents.
Browne explained that in some cases in San Fernando, Arima and Chaguanas, burgesses will have to pay less property tax than required at the moment. He insisted it was not a measure to raise revenue, simply a levelling of the playing field, and that Opposition parliamentarians had been sparking fears among the population that were totally unnecessary.
‘Workshop’ on property tax
Browne was asked, should property taxes drop, how would people renting houses and apartments benefit? In places like Arouca house owners were demanding $3,000 a month rent for a one-bedroom apartment, Browne was told. Browne said that was the reason the Government is engaged in a drive to build houses. He admitted, though, that demand far outstripped supply and that was why the Government is providing tax incentives to developers in the private sector to build houses.
The end result is that the Government is hoping that rents on the whole will drop, Browne said. And he suggested that the Women’s League make a formal request to the Government to resuscitate the Rent Assessment Board.
‘Squatting a business’
Browne said there are five classes into which property will be placed—executive, modern, standard, sub-standard and shack. Officers from the Ministry of Finance’s Valuations Division are already in the field assessing property, he said. He said there were some people who made squatting a business, in the sense that they might own a property somewhere, but if they have prior knowledge that the Government intends to set up a housing development in a certain area they would go there and set up a squatter’s dwelling.
The idea was the State would have to pay them to remove themselves from the plot of land they occupied, said Browne. To offset any such moves by white collar criminals, the Minister noted, the Government was using satellite technology, Google Earth, to map the entire surface of T&T. In that way the State would be able to know on a day-to-day basis what changes were made on any property in any area of the country, the Minister explained.
I am still trying to make
I am still trying to make sense of this hodgepodge of disparate propaganda and disinformation from this Minister (Disinformation is false or inaccurate information that is spread deliberately: WIKIPEDIA).
"Budget deficit,opposition,Google Earth,rent assessment board, $6 billion, pay less property tax, white collar criminals, squatting, renting for $3000.00 monthly."
In the middle of all this is the statement "it was not a measure to raise revenue"
All this comes across as the din of peddlers hawking their wares in a Turkish Bazaar. When you leave the market, you so confused that you don't know you get robbed.
Last week on the Big Story with Shelly Dass there were two Officers from the Ministry of Finance’s Valuations Division who were very clear that Government's revenue would increase as a result of this new property tax.
There is no doubt that
There is no doubt that Browne is trying some damage limitation to do some post facto rationale on what was clearly announced as a revenue raising item in the budget. The Government did not do any homework on this proposal and when they saw the backlash, they are now trying to wriggle out of it. They continue to treat the people like fools.
There was no need to have a budget deficit of $6 billion. With a minimum of foresight, something this Gov't seem to lack totally, they could have had a budget with no or little deficit.
They need not have spent $1.5 billion on the recent Summit of the Americas and next month's CHOGM. No matter the creative accounting, £1.5 billion is a conservative estimate. The global recession was already on the horizon when decisions were taken to offer to host these two and other events. And even so there was time enough to cancel long before the dates of these events.
Construction of a few mega-buildings was ill-advised. During the last oil boom, billions were released causing hyper-inflation and all we were left with was a couple office buildings. Nothing wrong with construction of buildings, but flooding the country with money led to huge wastage, excessive cost overruns, inefficiency, bobol and corruption, resulting in an empty Treasury and knocking at the doors of the IMF with all their structural adjustments (SAPS) and conditionalities. We did not learn anything and history repeats itself to satisfy the whims and fancies of a megalomaniac
Through prudent management and controlled construction, we could have saved a few billion from the previous budget to be rolled over to this year's.
No need to fleece home owners, exploit road hogs and alcoholics and smokaholics to raise revenue to fill black holes created by prolific squandermania.
PNM PROPAGANDA PROGRESSION
PNM PROPAGANDA PROGRESSION -
The PNM propaganda has always one of its strong points. Remember,
1) No recession
2) Blip
3) Small Increase
4) Deficit Neutral
5) Small Deficit
BIG DECEIT
With all due respect, I'm
With all due respect, I'm beginning to wonder if some of these Gov't ministers have a form of mental illness.
Quote:
"The Government is hoping that the revised property tax system will lead to tenants having to pay less steep monthly rents" and
" Browne explained that in some cases in San Fernando, Arima and Chaguanas, burgesses will have to pay less property tax than required at the moment. He insisted it was not a measure to raise revenue, simply a levelling of the playing field, and that Opposition parliamentarians had been sparking fears among the population that were totally unnecessary".
A few points:
1. "Tenants will pay less steep monthly rents". When have we ever seen a reduction in rental costs? Expect perhaps in the late 1980's when TnT was is a severe recession. I thought we weren't in a recession (according to the Minister).
2. "Some cases will pay less property taxes". Pray tell where this would be. After Mme Teshiera tried to convince us that the current system of property taxation was useless and antiquated,and taxes were too low, how is it that some are currently paying more than required? Will these homeowners get a rebate for the last xx years of overpayment ?
3. "Not a measure to raise revenue". Please get your stories aligned. Another Minister has said publicly that the increased revenues would go to pay for better infrastructure...sewer, roads etc.
4. "Opposition Parliamentaries are sparking fears amongst the population". Sorry Mr. Minister, that is a slap in the face for those in the population who can think for themselves and be analytical (or critical, as appropriate) about the situation at hand.
Finally, they will Google Map all of TnT. I beleive they are doing this in the UK, but have run up against some opposition about the homeowners right to Privacy. As well, we would need a cast of hundreds to manage such a system. How will this be paid for ? I guess through the increased revenues from Property Taxes...
Bottom Line : Even Ministers within the Government cannot get their stories aligned. Confuse & conquer !!
THEY HAVE A METHOD TO THEIR
THEY HAVE A METHOD TO THEIR MADNESS -
It has worked for them. They playing stupid to be smart.
And they spin so much web of
And they spin so much web of deceit that I truly believe they themselves do not know the real truth. How come Browne said, the property tax will be discussed in parliament then his people in the field said its such a small amount of money cf to the total billions of revenue, it will not be tabled. You see how they confuse you. Like Finance Minister mistaking Property value for Rental value, I bet if we did not bawl out about the 30KTT$ it will cost us that she would have gone for 3% of the property value. The spin is on guys and they went to big universities to learn spin, shame on them.Some degrees are not worth the paper its written on.
...Marianochio's nose just
...Marianochio's nose just grew by a couple of inches as the 6 billion is just for starters....the real figure will probably be more than twice that amount....would anyone buy a used car from this man?.....
And by the way, squatting is
And by the way, squatting is now a 'white-collar crime' according to Minister Browne !! What does he call the CLICO and UDECOTT affairs ?
Oops, excuse me while I rush off to find an empty lot to put up a tent on, before they Google Map the entire country...
Absolutely not. Btw, why did
Absolutely not. Btw, why did this man say he left a lucrative job in Barbados? I'm beginning to wonder.
And then he said we are
And then he said we are ignorant, the Express editorial equates " ignorance" with " stupidity". I have alwayd felt the TT public is politically literate and wise. Ignorant was a bad word to use. Our intelligence comes from fine education, common sense, logical deductions etc. Govt does not have the monopoly on being smart.
Where has Teshiera gone?
Where has Teshiera gone? Since the infamous statement about Govt. not backing down, the Minister of Finance and the Prime Minister have disappeared. After all the big mouth and hoity-toity attitude displayed on TV and in the Press, something else must be going on.
Instead, we now have a number of other Ministers, as if they have nothing better to do, rushing to defend the Property Tax, taking it in turns, trying to bamboozle the people with words. Even Hazel, who most of the time is in outer space, has tried to defend the increase.
After calling us stupid and ignorant, Browne is back again. This time he is singing a different tune and again, he is insulting our intelligence.
Govt. puts out a $6 billion deficit budget and he expects us to believe that this was not a measure to raise revenue.
That the Property Tax will lead to a reduction of rent that tenants are paying.
That this tax will level the playing field, as if he knows nothing about Toruba.
That the Women’s brigade asks for the Rent Assessment Board to be resurrected so that it can figure out how to Tax the five different classes of property. If this classification is true, then the minister will find that there no shacks in Carenage, Big Yard, Water Hole, Harding Place and Debe. Wait and see; that motor car that you have, that is also Property.
Kill this thing before it gets too big, say it out loud. Shout it out clear.
Axe the Tax.
Is like asking way de money
Is like asking way de money gorne. Them politicians like PTSC buses, when you looking for one, you cyar find one. You will only see them when they want yuh vote, every five years. And these days they so arrogant and mannish, they take yuh vote for granted and is lucky yuh lucky if you see them at all.
Unless I got it wrong, didn't Texiera say that she was listening and was going to set up something on the internet like face book or you tube or up yours to interact with the public? She changed her mind? After all she is now a full-fledged politico.
Maybe they all went on another one of those freebie all-expenses-paid retreats at their friend's beach resort to do some brain-storming, that is assuming they could find that elusive cell in their cranium. Or maybe the bouncing bunny went to Havana for a re-charge. Or maybe KFC has been serving up these headless chickens with your chips, who knows? Noticed anything stuck in your craw recently? Something unpalatable, tasteless, indigestible, like property tax?
Talking about the birds, haven't been hearing Chicken Little these days. Did the sky eventually fall on him or is Mariano the new yard cock?
Now that Dr Browne (not the medical one, the recently qualified doctor of spin) is the new defender of the indefensible, will he tell us the revised version of the "true" costs of the 4 attack helicopters? Was there a downpayment? If so how much and is it refundable? Or is there a penalty for cancellation? if so, how much? Will this help to reduce the 6-billion budget deficit?
Can he tell us whether Gov't can sue Hart & Annisette to recover the millions expended so far on the Uff Commission of Enquiry?
And as he is at it, could he tell us how many billions in returns we have obtained from our billion dollar innvestment in the April Summit of the Americas? And how many more the half-billion being invested in next month's CHOGM will bring in? And will the expected returns from these two investments be sufficient to balance the Budget?
But seriously, I suspect they have left Mariano to mind the store and that the rest of them have fled the coop and have gone into underground hibernation soon to emerge under the cover and protection of busloads of CPEP and URP workers and rent-a-crowd supporters for a show of force in Woodford Square on the day of the next sitting of Parliament.
Think it easy?
None of these ministers
None of these ministers except Mariano Browne have any ideas what they are talking about. And to me Mr Browne is playing us for fools with his deceit. Property tax is less than neutral in Arima! Wanna bet, it will increase fourfold? Rik Hansel
A DEFICIT AS EARLY AS
A DEFICIT AS EARLY AS 2010.
MANNING AND ALL HIS COHORTS 'TIEF ALLDE MONEY,
THEREFORE THEY REALLY NEED TO GO TO JAIL !!!!!!
THIS IS TOTALLY UNACCEPTABLE !!!
PNM SPEND OUT DE MONEY AGAIN, AND PEOPLE STILL SUFFERING !!!!
I LOOK AROUND , AND TRINBAGONIANS FOOLING DEY FUCKING SELF AND PRETENDING THAT THIS COUNTRY SO RICH--- EVERYBODY DRIVING MOTORCAR !
BUT THIS COUNTRY IS POOR, 3RD WORLD --- THAT IS THE PERCEPTION OF AMERICANS WHO HAVE COME TO VISIT AND GIVE ME A FEEDBACK.
AFTER SPENDING AND TIEFING SO MUCH MONEY WE ARE WOEFULLY 3RD WORLD, UNDER-DEVELOPED.
RISE UP PEOPLE AND SEND THESE MUDDERCUNTS TO JAIL.
RLinTT
CHILDREN READ BLOGS
CHILDREN READ BLOGS -
I feel your pain, but we could express our outrage without the profanities (cussing).
Please, please, watch the
Please, please, watch the language. We know it's vexing and frustrating, but let us show the politicians we above that.
Yikes... Kindly watch your
Yikes...
Kindly watch your language out there or you may find yourself barred from other commentary.
If you want to go to Woodford Square or elsewhere and shout obsenities, that may be your right. On the Net, we can voice our discontent in a more controlled manner..i.e without cussing..
With thanks,
RLinTT, don't demean
RLinTT, don't demean yourself and others who read these pages with your contributions, please. This is no place for gutter language.
Thank you.
Should we be surprised?
Should we be surprised? Really?
That there is a deficit of any kind projected for 2010?
I mean, we still have not had an explanation for:
- the US$1.04 million (or was it US$1.06 million?) difference in the Augusta Westland press release for the cost of the helicopters, and Minster Browne's released (higher) figure;
- why an additional TT$11 million was allocated to the Prime Minister's residence, when an extra TT$200+ MILLION was allocated, on top of the original estimate of TT$40 million to renovate the residence;
- why there is no completion date for the Brian Lara/Tarouba Stadium, TT$700 MILLION and counting;
- all the other million dollar projects (TT or US, they are still in the million dollar bracket) that quite clearly are not having a ROC/ROE/ROI (Return on Capital/Return on Equity/Return on Investment) which no clear-minded thinking CEO and his board would have agreed to.
La Diva
The government really needs
The government really needs to admit its mistakes and be honest with people so they know what to expect the rest of this year. Giving false hope and creating half truths just makes things worse for us all. Many people have to rely on things like an easy saver program and small loans to survive and can not afford to risk large investments that could fail because the government was not honest.