IT’S NOT ALL ABOUT MONEY

Addressing the launch of the School Improvement Project (SIP) at the Success/Laventille Secondary School, Rowley said the problem which the country faces “is not just about money.” He explained while money is important to pay for goods and services which the country needs, success is not measured in monetary terms alone. His audience applauded as Rowley told them, “A lot of it is attitude...You cannot put a price on attitude.” Expressing concern there are too many people in TT who still believe the country’s problems can be solved by money, Rowley said money with the wrong attitude will have no chance of solving those problems.

The Prime Minister said he took note of a comment by a business leader who criticised the Budget for lacking “a stimulus package.” Telling his audience that he was not US President Barack Obama and TT had no Federal Reserve Bank to print its own money, Rowley said, “As long as that is the mentality...

that is the mentality that will keep us where we are today.” He said that comment referred to the generation of contracts, “to earn money the way we used to earn money before.” Reminding his audience that Finance Minister Colm Imbert said the country was likely to get $37 billion in revenue next year and the former People’s Partnership (PP) government had budgets in excess of $63 billion, Rowley said TT’s economic realities dictate that, “we are going to have to do things differently.” He warned, “We have to be careful that we don’t borrow money to maintain our lifestyle and put ourselves into bankruptcy when we can’t repay the money we borrowed.” Rowley told his audience, “Anybody who is telling us that the way out of our problem is to borrow money...to spend it on a stimulus package to maintain our lifestyle...

as Lloyd Best would say.. them is people to watch.” Rowley said the only way to maintain a $60 billion lifestyle when the country may only get $37 billion in revenue, “is borrow the difference and live on borrowed money.” He reminded his audience, “if you borrow and you can’t repay...then I don’t have to tell you what is going to happen.” Praising the 2016/2017 fiscal package as one of the best ever presented in the history of this country, Rowley said what the Budget represents, “is opportunity for participation for making the most of what we have available to us.” The Prime Minister declared, “There has been no budget read in this country...in the history of this country where the participation of the nation in the national development has been more open than yesterday’s (Friday’s) Budget.” Reiterating this year’s Budget, “opens the door to participation,” Rowley explained this participation must involve all stakeholders and the attitude that Government will do everything must change. “Well you better begin to be weaned off the Government because the Government’s shoulder cannot carry the burden anymore,” he said.

Stressing there must be value for money in the SIP and all other initiatives which Government undertakes to improve the lives of this country’s citizens, Rowley said the population needs to dispel the myth that in the absence of budgets in the $60 billion plus range, “there is no hope for a good and progressive life” in TT.

Since it’s presentation on Friday, there has been considerable debate about the Budget and its contents.

Several commentators have expressed different views about the tax measures, especially the new tax bracket of 30 percent on individuals whose chargeable income exceeds $1 million per annum and companies whose annual profits are also in excess of $1 million. The Budget debate resumes in the House of Representatives on Thursday at 1.30 pm when Opposition Leader Kamla Persad-Bissessar gives her response.