$5B Budget presented at THA’s Plenary Chamber

During his two-hour long presentation, which was his fifth budget presentation, Jack said he is proud of what has been achieved over the past few years.

He shared Tobago’s short to medium term development focus for the next fiscal year, noting that the budget will focus on several broad thematic areas that will ensure that Tobago’s development trajectory continues in a balanced and strategic manner.

“The budget numbers were largely influenced by several sources of information including the budgetary submissions of the various divisions, the manifesto of the PNM in the last THA elections, the THA Pre budget survey for 2017 and the Comprehensive Economic Development Plan (CEDP) 2.0 for Tobago. Accordingly, the budgetary proposals for fiscal 2018 expand on the thematic areas of : building economic resilience; fostering innovation and creativity; developing our human capital; providing housing opportunities; enhancing health care delivery; fostering and stimulating rural development; holistic development for young adults; preserving our pristine natural environment and empowering and building communities,” Jack said.

The Secretary noted that the recurrent estimates for fiscal 2018 require a total expenditure of $3.2 billion.

“Personnel Expenditure- $858.3 million, Goods and Services- $1.2 billion, Minor Equipment Purchases- $127.2 million and Transfers and Subsidies- $1.05 billion. This represents a reduction of just under $22 million from last year’s request,” Jack said.

He went further providing the estimates as distributed across the division, which showed the Division of Health and Social Services receiving the biggest chunk of the pie, followed by the Division of Infrastructure and Public Utilities.

“Assembly Legislature- 28.0 million; Office of the Chief Secretary- 227.5 million; Finance and the Economy $184.0 million; Tourism, Culture and Transportation- $355.4 million; Education, Innovation and Energy- $498.1 million; Community Development, Enterprise Development and Labour- $110.9 million; Infrastructure, Quarries and the Environment- $539.5 million; Food Production, Forestry and Fisheries- $324.9 million; health, wellness and family development- $794.1 million; Settlements, Urban Renewal and Public Utilities- $35.3 million; and Sport and Youth Affairs- $99.8 million,” he outlined.

Jack continued, as he outlined the highlights of the proposed recurrent expenditure: “Youth Development programmes- $3 million, School feeding Programme- $50 million, Agricultural Incentive Programme- $4 million, Information Technology Centre- $20 million, Studley Park Enterprise Limited- $26 million and Assistance to Sports Tourism Organisations- $2.6 million,” he said.

With regards Development Programme Estimates, the Secretary explained that the Development Programmes Estimates amount to $1.71 billion, a decrease of $330.59 million from the fiscal 2017 request to the Central Government.

“Pre-Investment- $5 million, Productive Sectors- $20 million, Economic Infrastructure- $738 million, Social Infrastructure- $652 million, Multi-sectoral and Other Services- $294 million,” he explained.

Jack stated that included in the estimates for fiscal 2018, are provisions for URP and CEPEP totalling $77.2 million and $54 million respectively.