DEVELOPMENT $ LEAVES LONDON UNMOVED

Commenting on the issue at Thursday afternoon’s post-Executive Council Meeting press briefing, the THA Finance Secretary told reporters: "I think the matter that a lot of Tobagonians focus on is the volume of resources that would be made available to the THA in the next fiscal year.

I am gratified to know that in the case of recurrent expenditures, relative to the request that we put to the Central Government, the resource flows that we are expecting — in excess of $1 billion — I think, all things considered, is reasonable." London, however, asserted, "I am not at all excited as I might otherwise have been, in terms of the volume of flows, of cash flows, that is, for the Development Programme. The cash, $240 million or so, could have been higher."

He noted that a lot of people may be "more dramatic" in their remarks on the national Budget with respect to Tobago’s allocation. But, he asserted, "I think what we have to remember is (whether) at the end of the day you are able to deliver the programmes.

Everybody is not an accountant, everybody is not a financial (whiz), and you can take it from me that I see all the necessary windows, whether through cash or through borrowings, to be able to effect an effective development programme for Tobago next year."

The THA Finance Secretary said he felt somewhat assured that there would be access to resources to continue funding projects in case of any cash shortfall.

"While I would have loved to have all of it in cash and then we go out and do all the other things, what is important is that you have access to this volume of resources to do the work that you want, and I am reasonably confident that it is there," he said.

Meanwhile, THA Chief Secretary Orville London noted that "the Budget does in fact provide an environment in which the THA can deliver on its promises to the people of Tobago."