Enill: Social Sector Programme coming

GOVERNMENT is working on a special programme to handle investments in Trinidad and Tobago’s social sector. This was revealed by Junior Finance Minister Conrad Enill as he wrapped up debate on amendments to the Income Tax Act in the Senate yesterday.

The Minister dismissed earlier claims from Senate Minority Leader Wade Mark that the International Monetary Fund (IMF) was unhappy with the fiscal policies of the ruling PNM. Mark claimed the IMF was dissatisfied  that Government was not following its advice about placing energy sector revenues in the Oil Revenue Stabilisation Fund and then placing these revenues abroad “for future revenues.” The UNC chairman further alleged that the PNM had no medium macro-economic plan which was underpinned by a three-year budget. However Enill declared that nothing could be further from the truth.  Quoting from the IMF’s report on Article Four discussions with Government, the Minister said the IMF noted that TT had experienced nine years of successive economic growth despite global trade liberalisation trends and the September 11, 2001 terrorist attacks in the United States.

Enill said the IMF was pleased with Government’s efforts to restructure Caroni (1975) Limited and make it economically viable. He then revealed that Government was working on a “social sector investment programme” which was similar to its public sector investment programme and more of this would be revealed in the upcoming Budget. Adding that the legislation would ensure greater equity in the society to all persons regardless of political affliation, Enill quipped that the PNM had proven their superior ability on that score during Monday’s Local Government Elections. Enill also dismissed claims from Mark that Government was taking away the duties of the National Training Agency and placing it solely in the hands of Science, Techonology and Tertiary Education Minister Danny Montano. Mark alleged that under such a system, Government could give tax credits to certain businesses such as CEPEP firms.