Chamber wants institutional reform

“In such an environment providing more money or even the same as the previous year will not add value. Doubling the amount of money allocated to one ministry is not likely to lead to a double in value to the citizens.

“We have seen this to be true in the case of crime, in the case of our health sector, in the provision of local government services like garbage collection.

“You name it...more money does not mean more value,” Trestrail said during the Chamber’s annual post-Budget review yesterday at the Hyatt Regency in Port-of-Spain.

Specifically tackling crime and lawlessness, Trestrail noted, is “value for money”. Under current governance and operational structures, successive governments — regardless of party — have proven themselves institutionally incapable of effectively addressing crime, he added.

“One of the major issues which continues to affect business confidence is crime and criminal activity. Organized crime appears to be gaining a stronger hold on our society,” he said.

With over $20 billion spent on crime fighting in the last 2 years and $7 billion in this budget, Trestrail wondered if citizens were truly getting any returns on investments, especially as the country’s ranking in the Global Competitive Index fell from 89th last year to a “disturbing” 94th.

Trestrail did commend the government on its commitment to divestment, diversification and innovation but noted that underpinning any attempt to achieve these goals was a reform of the Public Service.

“The cumbersome machinery that currently exists has severely impeded successive administrations, and negatively impacted upon doing business in T&T, diminishing our attractiveness as an investment destination,” he said.