Tobago has received more than $2.7 billion in this year's fiscal package, to cope with the challenges of tourist arrivals.
So said Finance Minister Karen Tesheira in the 2009/2010 budget, presented in Parliament yesterday.
"In support of the people of Tobago, therefore, the central government will in the next year, provide total budgetary resources to the Assembly in the order of $2,268.6 million," she said.
"Foreign investors will be granted conditional licences on satisfaction of predetermined criteria while awaiting regulatory approvals which will enable them to commence construction.
"The objective is to reduce the processing time for the grant of the licences."
Tobago House of Assembly Chief Secretary Orville London is satisfied with the amount allocated to Tobago in the fiscal package.
Speaking with reporters after the presentation, London said there were initiatives in the allocation that were encouraging and the funding was satisfactory. "I think generally beyond the question of funding which although less than last year is not inadequate...I am quite heartened by some of the initiatives and some of the discussion," London said.
Commenting on the construction of Scarborough Hospital, he said he's hopeful that it would be completed by the third quarter of next year.
THA Minority Leader Ashworth Jack said he was not pleased with the funds allocated for Tobago.
"Although it is said in the budget that tourism is the mainstay of Tobago's economy, there was very little incentive as it relates to tourism in Tobago," he said. "In fact most of the new hotel rooms, as you would have noticed, would be built in Trinidad like the Carlton Savannah, but there have been not one mention of additional rooms in Tobago or even incentives."
