Enill insists: Budget is for the people

MINISTER in the Ministry of Finance, Conrad Enill, insisted the 2004/2005 Budget is a “people’s budget,” and its contents dispel any allegations to the contrary that have been advanced by the Opposition UNC. Starting the Budget debate in the Senate on Thursday, the minister said good governance requires that the population effectively participate in key economic decisions that affect them directly. “For this reason, as in previous years, we have consulted with the national community in developing our social and economic agenda. Their contributions have been valuable and productive. Their views reflected a strong concern for inter-generational equity. They insisted on a high quality socio-economic agenda which would meet the needs of future generations,” Enill stated.

He said since returning to office in 2001, the PNM has been laying the foundation for the transformation and modernisation of Trinidad and Tobago’s economy.  Enill explained that through the Budget, Government’s aim was to promote balanced and equitable development in which, “our most vulnerable and disadvantaged groups would be able to share in the fruits of our growth and development” and the lifetime concerns of citizens would be addressed through measures such as affordable and accessible quality health care and the provision of good quality jobs. “The 2005 Budget maintains Government’s unwavering focus on the objective of transforming TT to a developed country by 2020 or before. At the core of our economic endeavour and management of the country’s finances is the welfare of our citizens,” he declared.

Enill said because of Government’s sound fiscal policies, “we also have access to the pool of international savings which have allowed us to speed up economic growth and development and to alleviate the conditions of our disadvantaged and vulnerable.” The Minister added the fiscal situation remained sound and sustainable with an overall surplus of $437.1 million (0.6 percent of GDP) being realised in fiscal 2004. He said included in this balance is a transfer of $1.263 billion (1.8 percent of GDP) to the Interim Revenue Stabilisation Fund. “We have strengthened government revenues and are in the process of making our public sector more efficient and effective.

We have therefore put ourselves in a position to scale-up expenditures to address the concerns of the vulnerable and defenceless groups in our society. We are of the view that if the period of expansion we are now experiencing is to be maintained, it is vital that our development strategy should reduce the incidence of exclusions — the vulnerable and the defenceless,” Enill declared. Senate Opposition Leader Wade Mark dismissed Enill’s statements, describing the Budget as “a weapon of mass destruction” aimed at the heart of the nation’s democracy.

Noting that no government in TT has ever been “blessed with so much revenues,” Mark claimed there was no evidence of equitable wealth distribution in the society. He said there were several disconnects in the Budget’s provisions and warned Government, “the road to hell is paved with good intentions.” Mark said the PNM “specialises in fossilised thinking,” and he expressed concern that the economy could be “hijacked by criminal forces and gang leaders.” The PNM will hold the first in a series of public meetings on the Budget at the Success/Laventille Composite School today.