Prime Minister Kamla Persad-Bissessar has described her Government's first national budget as "a rebirth for economic sanity" of T&T. Persad-Bissessar was speaking during an interview with reporters at the Red House, Port-of-Spain, following Finance Minister Winston Dookeran's two-hour-and-20-minute presentation of the 2010/11 budget. Saying the budget was different to the ones previously presented, Persad-Bissessar said: "It came straight to confront the issues–the ones that have been creating a lot of disquiet, not only in the economic sector but the social sector."
She said those issues included the bailout of insurance giant Clico and the Hindu Credit Union and the rapid rail and aluminium smelter projects which were to be discontinued. "So I see (the budget) as a launch-pad for the economy to take off," Persad-Bissessar said. There was no announcement of the anticipated increase in the minimum wage, which stands at $9 an hour. In response to questions on that issue, Persad-Bissessar said: "There is no difficulty (in increasing the minimum wage). The minister will articulate in further detail the review process that is on going, given the financial and economic reality that we are in now."
According to sources, however, the new minimum wage is expected to be announced by Labour Minister Errol Mc Leod during his contribution to the budget debate next week. "So while there may be some who are disappointed that it was not revealed today, it is under review," Persad-Bissessar assured. She said she would have liked to be "Santa Claus and give a lot away" but that was not possible. Regarding the $1,000 monthly special duty allowance for police officers, Persad-Bissessar said that would not be paid to officers of the Special Anti-Crime Unit of T&T. "As you know we have to sort out SAUTT," she added.
She said the money was being paid to police officers "because of the added criminal activity in the country." She hinted at provision of "something further" to the officers as negotiations for a new collective agreement were expected to begin later this month. Dealing with special purposes companies, such as the Urban Development Corporation of T&T (Udecott), the PM said additional legislative checks and balances were to be implemented to ensure accountability and transparency.