Finance Minister Dave Tancoo was in full flight in Monday’s Budget debut, flush in spotlight moment.
Loud, desk-thumping, back-up chorusing “… Everybody wins!”—yelling support from Government colleagues, testing Parliament chamber decibel levels supporting the 2026 Budget, being seen in various quarters as in synch with the Season of Light.
A subsequent US strike on an alleged drug boat in which two T&T nationals were killed have, however, stolen the Budget spotlight, calling into stiff question the Government’s support of recent US military “hits” on vessels—and Prime Minister Kamla Persad-Bissessar’s accompanying “Kill them all violently” stance.
With Antigua and other Caricom states against US military action—Antigua rejecting the US’ first approach to have a military base there and opposition in Grenada to having one there—this week’s Caricom meeting discussed issues, including the US military presence. Information on the T&T nationals’ death wasn’t on hand, it’s understood. The two men’s deaths have compounded the situation—especially for T&T’s Government, now between national and US interest.
It’s ahead when Energy Minister Dr Roodal Moonilal announces the Venezuela Dragon gas negotiation. Venezuela’s Ambassador to T&T, noticeably absent from the PM’s Divali prayers, attended the Foreign Ministry’s Divali celebrations—and was again hailed as T&T’s “good friend.” Respective attendance showed Venezuela’s closure to disrespectful statements, though officially open to working with T&T.
Amid Monday’s “show” of UNC political force, Opposition Leader Penny Beckles’ Budget reply yesterday attempted to stamp on every Budget “plum,” revealing unsavoury aspects, declaring dire consequences ahead and throwing UNC’s Opposition days statements about non-taxing back in the UNC’s collective face—down to defending drinkers. Minus Tancoo’s dramatic flair, Beckles had vocal support from People’s National Movement colleagues.
On Monday, prompted by Persad-Bissessar as he spoke, Tancoo’s balance of provisions, perks and penalties for various sectors, embellished with “Promises Kept!” emphasis, sought to convey Government’s delivery record and reinforce its “When UNC wins everybody wins” anthem, lately soured by state sector firings.
How much the positives and revenue-raising measures/surcharges cost the public is ahead.
Amid heavy financial and economic constraints, Government has, however, stuck to caution with Budget size ($59.232 billion), similar to PNM’s 2025 package ($59.741). While limiting “overspending” and “excess” accusations, the Budget framework acknowledges financial challenges facing Government.
With borrowing stated and the project 2026 deficit ($3.865B)—lower than PNM’s 2025 deficit ($5.551B), mid-term supplementation and more borrowing are already speculated—even with a refinery investor and other inflows.
With 2026 revenue ($55.367B) slightly higher than the 2025 figure ($54.224B), funding in some areas are reduced compared to 2025, Budget documents show. But funding is slightly higher for certain areas—though not PNM regional corporations.
Yesterday, Port-of-Spain mayor Chinua Alleyne declared of the reduced allocations PNM corporations received, “This is punishment, not policy!”
In terms of enforcement of measures, Government’s details are ahead in debate windup on penalties regarding defaulting banks/insurance companies on the Asset Levy and landlord surcharge. That surcharge replaces the PNM’s property tax with a proven lucrative category, in a sector also rich with issues and gaps.
Government has shrewdly taken advantage of the timing of its status as a popular new Government of big numbers—and favourable political winds—to tackle issues which the PNM didn’t: NIB rates, retirement age, and electricity surcharge.
The UNC Government’s overall increased Tobago funding (so far) appears to secure Tobago House of Assembly Chief Secretary Farley Augustine’s Tobago People’s Party (TPP) another THA term.
Whether TTP’s election efforts receives any assistance- and what unfolds—from Wednesday’s warm handshake between Augustine and former People’s Democratic Patriots colleague-later-political foe Watson Duke is ahead.
Duke told the column, “I’ve set aside my differences with Farley Augustine. I’ve always stood by the belief that ‘Tobago must win’ and for Tobago to truly win, no one among us can afford to be a loser. It serves Tobago best when all its leaders rise above division and work hand in hand to build a stronger more united Tobago offering opportunity for all.”
If Government’s been spare on certain items, it’s extended to debate time. House debate was projected to end very late last night. Whatever’s said will add to the assessment of each side’s Budget performance.