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Tuesday, March 18, 2025

New Finance Minister promises not to introduce austerity measures

‘No need for pain’

by

Dareece Polo
19 hours ago
20250318
Prime Minister Stuart Young, right, congratulates new Minister of Finance Vishnu Dhanpaul at yesterday’s swearing-in ceremony for the new Cabinet at President’s House,  St Ann’s.

Prime Minister Stuart Young, right, congratulates new Minister of Finance Vishnu Dhanpaul at yesterday’s swearing-in ceremony for the new Cabinet at President’s House, St Ann’s.

ABRAHAM DIAZ

DA­REECE PO­LO

Se­nior Re­porter

da­reece.po­lo@guardian.co.tt

New­ly ap­point­ed Fi­nance Min­is­ter Vish­nu Dhan­paul yes­ter­day pledged that his tenure will not bring fi­nan­cial hard­ship to the peo­ple of Trinidad and To­ba­go.

Dhan­paul, who pre­vi­ous­ly served as a per­ma­nent sec­re­tary in the Fi­nance Min­istry, has worked with eight fi­nance min­is­ters across suc­ces­sive ad­min­is­tra­tions since 1991. He al­so re­cent­ly held the po­si­tion of High Com­mis­sion­er to the Unit­ed King­dom. Yes­ter­day, he of­fi­cial­ly re­placed Colm Im­bert, who served as Fi­nance Min­is­ter since 2015.

Fol­low­ing his swear­ing-in at Pres­i­dent’s House, Dhan­paul im­me­di­ate­ly dis­played a dif­fer­ent lead­er­ship style from his pre­de­ces­sor, who large­ly re­strict­ed di­rect me­dia ac­cess by block­ing jour­nal­ists from con­tact­ing him.

In a qui­et but no­table ges­ture, Dhan­paul shared his con­tact in­for­ma­tion with re­porters and per­son­al­ly shook their hands af­ter the in­ter­view.

He al­so made a bold de­c­la­ra­tion about the eco­nom­ic di­rec­tion un­der his lead­er­ship.

“You have to make tough de­ci­sions as a min­is­ter of fi­nance. You would like to not make tough de­ci­sions. What I would tell you as a, I don’t want to say a promise to the coun­try, but the peo­ple of Trinidad and To­ba­go, there will be no hard­ships. Not un­der my watch. That is not go­ing to hap­pen.”

Dhan­paul al­so dis­missed any plans to im­pose aus­ter­i­ty mea­sures.

“Eco­nom­ic poli­cies, you don’t have to put pain on peo­ple nec­es­sar­i­ly. We are not go­ing through aus­ter­i­ty mea­sures. At least I have no in­ten­tion of im­ple­ment­ing any aus­ter­i­ty mea­sures to lit­er­al­ly pun­ish the pop­u­la­tion. It’s as sim­ple as that. We’re go­ing to keep it sim­ple. We’re go­ing to keep it above board. We’re go­ing to keep it with in­tegri­ty and get the job done.”

The min­is­ter iden­ti­fied eco­nom­ic growth—par­tic­u­lar­ly in the non-en­er­gy sec­tor—as his top pri­or­i­ty, be­liev­ing it will help re­solve crit­i­cal is­sues, in­clud­ing the for­eign ex­change cri­sis.

De­spite the mag­ni­tude of the task ahead, Dhan­paul ad­mit­ted he was sur­prised to be ap­point­ed. He al­so stat­ed that he has no in­ten­tion of hold­ing on­to pow­er if he is no longer ef­fec­tive in the role.

“I think it’s a very thank­less job of be­ing min­is­ter of fi­nance in Trinidad and To­ba­go. You can’t win, but you have to do your best. And some­thing I could tell the pop­u­la­tion, I promise to do my best. And when my best stops be­ing good enough, I know when to leave.”

The new Fi­nance Min­is­ter de­clined to com­ment on how he plans to mend the strained re­la­tion­ship be­tween his min­istry and the Au­di­tor Gen­er­al’s of­fice. How­ev­er, he em­pha­sised the im­por­tance of pro­fes­sion­al­ism in such in­ter­ac­tions.

“I have worked with many au­di­tors gen­er­al over the years, and we have had fan­tas­tic re­la­tion­ships—pro­fes­sion­al­ly, very cor­dial. And I don’t see why it should change now. I’ve worked with many of them.”

Ten­sions be­tween the two of­fices arose in April last year when the Fi­nance Min­istry sub­mit­ted amend­ed pub­lic ac­counts to ex­plain a re­port­ed $2.6 bil­lion un­der­es­ti­ma­tion in rev­enue. Au­di­tor Gen­er­al Jai­wantie Ram­dass ini­tial­ly re­fused to ac­cept the late sub­mis­sion, cit­ing the need for le­gal ad­vice, be­fore ul­ti­mate­ly re­view­ing the doc­u­ments. How­ev­er, she lat­er sub­mit­ted her orig­i­nal re­port to Par­lia­ment, stat­ing her team was un­able to rec­on­cile the fig­ures.

Le­gal dis­putes be­tween the par­ties are on­go­ing, though Cab­i­net re­cent­ly de­cid­ed to scrap as­pects of the in­ves­ti­ga­tion re­lat­ed to Ram­dass.

For­mer T&T High Com­mis­sion­er, PM con­demn UK visa re­quire­ment

Prime Min­is­ter Stu­art Young has strong­ly crit­i­cised the UK’s de­ci­sion to im­pose a visa re­quire­ment on Trinidad and To­ba­go na­tion­als, call­ing the pol­i­cy “un­jus­ti­fied.”

De­spite his frus­tra­tion, Young as­sured that the gov­ern­ment is ac­tive­ly work­ing to ad­dress the UK’s con­cerns over an in­crease in refugee re­quests.

“We don’t agree with it. We think it is a pol­i­cy that is not jus­ti­fied in the cir­cum­stances, and we will con­tin­ue to have re­spect­ful di­a­logue with them. We will con­tin­ue to have a lot of con­ver­sa­tion with them, and I am go­ing to put what­ev­er pres­sures I can to ask them to take a clos­er look at it. We have al­so of­fered to put cer­tain things in place that we be­lieve will be able to mit­i­gate their con­cerns. So, let’s wait and see how it goes.”

Mean­while, Dhan­paul said the visa re­quire­ment came as a sur­prise to his of­fice. He fur­ther de­nied any pri­or com­mu­ni­ca­tion from UK au­thor­i­ties re­gard­ing T&T na­tion­als seek­ing refuge, stat­ing that while dis­cus­sions took place in Lon­don, the UK’s Home Of­fice on­ly pro­vid­ed gen­er­al sta­tis­tics with­out spe­cif­ic de­tails.

“It’s dis­ap­point­ing. To me, per­son­al­ly, it was very dis­ap­point­ing be­cause, as I said, and I re­peat, we were am­bushed.”

Dhan­paul sug­gest­ed that an in­crease in refugee claims may have been due to trav­ellers try­ing to en­ter the UK be­fore the Elec­tron­ic Trav­el Au­tho­ri­sa­tion (ETA) sys­tem came in­to ef­fect in Jan­u­ary.

Mean­while, he backed for­mer Prime Min­is­ter Dr. Kei­th Row­ley’s call to re­place the Privy Coun­cil with the Caribbean Court of Jus­tice as T&T’s high­est court.

“Well, I’m not a lawyer, but we are an in­de­pen­dent Re­pub­li­can state, right? And there’s no need for us to be at the Privy Coun­cil. That’s my opin­ion as a layper­son.”

Young al­so ad­dressed con­cerns over re­cent US for­eign pol­i­cy di­rec­tives, em­pha­sis­ing that the gov­ern­ment re­mains in ac­tive dis­cus­sions. He sug­gest­ed that the poli­cies may not specif­i­cal­ly tar­get Cari­com na­tions.

“It is very pos­si­ble that that is not di­rect­ed at us here in the Cari­com re­gion. But yes, as I said yes­ter­day (Sun­day) very clear­ly, I will fight for Trinidad and To­ba­go and I will con­tin­ue to do so. I will pro­tect Trinidad and To­ba­go’s sov­er­eign­ty.”

When asked if he would be will­ing to have his US visa re­voked in protest—sim­i­lar to Bar­ba­dos Prime Min­is­ter Mia Mot­t­ley’s stance in de­fence of Cu­ba’s med­ical pro­gramme—Young de­clined to com­ment.

On Feb­ru­ary 25, US Sec­re­tary of State Mar­co Ru­bio an­nounced new visa re­stric­tions tar­get­ing Cuban of­fi­cials and any­one deemed “com­plic­it” in Cu­ba’s for­eign med­ical pro­grammes. The re­stric­tions ex­tend to their im­me­di­ate fam­i­ly mem­bers as well.


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