T&T Chamber of Commerce on the 2021 Budget

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    The T&T Chamber of Industry and Commerce says it would have liked to see more effort towards tightening government expenditure to reduce the deficit in the Budget.

    It has also raised questions about revenue projections for fiscal 2021 – it says more detail is required with regards to non-energy income, as it appears high.

    In a detailed release, the Chamber praised a number of measures in the Budget, including steps to develop the local agriculture and agro-processing sectors.

    It also credits the Minister for acknowledging the challenges faced by the gas value chain, but warned that it is “critical” for work there to be completed quickly to ensure long term sustainability of the sector.

    As it relates to property taxes, the T&T Chamber reminds of its call for this to apply strictly to physical property and not on installed plant, machinery and equipment, as this will be counterintuitive.