Tax can harm growth

Shrikissooon supported the Government’s seven percent online tax, but said urged better administration of it. Shrikissooon called for a comprehensive plan for TT’s development, to address the country’s illiquidity issues, overdraft and economic growth, rather than sporadic measures .

“I’m unsure whether the twiddling and tweaking of policy like this can actually deliver Trinidad and Tobago from the economic turmoil that it is in.” Shrikissoon also expressed deep concern if long-term bonds under debate yesterday are used to fund mere current consumption .

“Is it going to be used for Budget support?” he pressed. He queried the proposed hike in the borrowing limit/ceiling from $300 million to $2 billion, saying a similar bond-issue last December for US$1 billion had signalled the use of debt-financing to raise revenues .