Renewed interest in the property tax has led a number of countries to undertake major property tax reforms in recent years. Issues and challenges in implementation include determining what is included in the tax base, assessing properties, setting tax rates, and administering the property tax system.

No form of taxation is more dependent on administration than the property tax. How well property taxes are administered affects, not only their revenue, but also their equity and efficiency. Administrative issues include the capacity to administer the tax, manual rather than computerised functions; collection rates are low, and enforcement is almost non-existent. Even countries with relatively good property tax administration often have problems updating values on a regular basis.

The obvious question here is – are we equipped and ready – both on a resource and administrative level to implement property tax assessment and collection? Administration of the property tax can be sufficiently costly to be an obstacle to implementation. However, frequent valuations maintain the legitimacy of the tax and reduce the risk of sudden, dramatic shifts in tax burdens from large increases in assessed values. The costs associated with regular assessments and reassessments include computer software and support, training and availability of in-house staff, and training and availability of appraisers (Dornfest 2010). This high administrative cost has led to failure of implementation of the property tax in many countries.

Studies show that residents are more willing to pay property taxes when local services, such as roads and garbage collection, are adequate and efficient. Do we consider the fulfilment of local services adequate in Trinidad and Tobago? What about the fact that property tax does not reflect a real cash flow but rather an imputed one that may not necessarily reflect the owner’s current financial situation. What about the volatility of the debt which will be impacted by increases in the values of the property that is outside the control of the owner, such as those brought on by market forces? And possibly even by government policy itself? What if the government decides to build a school or hospital near to your home and therefore possibly raise your home’s market or rental value? In reality, “tax policy is the product of political decision making, with economic analysis playing only a minor supporting role” (Holcombe 1998). It seems generally essential to link the implementation of property tax to broader reforms in public sector management aimed at improving both public services and governance. This must be part of a wider policy that would gain some sort of economic benefit for the population.

The future of local property taxation in any country seems highly dependent on the role that governments are expected to play.

For example, implementation of local property tax, accompanied by changes in the transfer system to support and encourage accountability to citizens for the taxes they pay and the services they receive may be a more promising path. On the other hand, a simple attempt to implement property taxes with nothing else changing, pushed by a government trying to reduce its budget deficit by off-loading more fiscal responsibility on citizens, is unlikely to be received with much enthusiasm.

I’ve decided to break with tradition on this one.

Over the past several weeks, I’ve seen common sense get into some serious bust-ups with special interest agendas, with common sense being soundly trounced each time. I suppose this is alright when the ladies of the Mothers’ Union are trying to decide which colour tablecloths are best for Sunday afternoon tea. Not so much for matters such as property tax and how to treat with successive downgrades from two credit rating agencies.

The Opposition powered its way into government partially on an axe property tax ticket. This is the same Opposition that decided in its last year of government the tax was necessary and announced plans to resume said tax. The same Opposition, which has now revved its machinery to fight the tax again. The same Opposition that has all the while demanded that government find ways to raise revenues. The same Opposition, whose several members own property abroad, for which they are happy to pay taxes. It is enough to leave your head spinning.

Meanwhile, the Opposition’s response to the Standard and Poor (S&P) and then the Moody’s downgrades has appeared almost gleeful. From the social media commentary, I fully expect one day, some day in Parliament, somebody is going to yell across to the government side, ‘Neh neh ni boo boo!” Such is the level of discourse.

Journalists are tripping over the pile of Opposition members and aligned interests that have suddenly become “available” to comment on the economy. Very many of these same people used to avoid us as though we had red eye. The economy is a disaster of epic, biblical proportions even, if the Opposition is to be believed.

This, I suppose, is all in the name of political expediency. After all, it was former prime minister Basdeo Panday himself who said politics had a morality of its own. Political parties have their mandate. And that is to survive, hopefully long enough to get their swing at the bat of governance again.

But does this “morality” justify what we’ve been seeing and hearing lately? The emotive words and gestures designed to do one thing, to grab common sense by the throat and choke it to death? It makes it hard to tell what’s real anymore. I seem to remember, though, that this Opposition, was a government of record budgets, each one larger than the last, despite the advice of experts. I also remember this Opposition as a government that experienced oil prices peaking between US$90-$114 a barrel. This same Opposition as government was euphemistically upbraided by the IMF for “underinvesting” in the economy. This is the Opposition that as government settled massive back payments to the public service, which the current government now has to borrow to honour. Talk about kicking the can down the road.

In this light, it is more than a little disingenuous to pose as though the economic problems joyfully being dished up on every morning talk show with a side order of schadenfreude are solely the result of the current government’s inability to manage.

The facts are, and yes, I am getting to the facts, that a credit rating is not an ultimate indication of the growth path the economy will take. It is a measurement of the government’s willingness and ability to repay its debt.

The expert I initially consulted with for what was supposed to be the original piece, Marla Dukharan, RBC Caribbean’s Group Economist, explained more fully that the rating matters to investors who buy bonds or treasury bills because it tells them what level of risk is involved.

She said the rating was also useful to those who had exposure to the government or who wanted an independent assessment of the fiscal or other developments in the country.

Some of the fiscal developments that both S&P and Moody’s have noted are the country’s increased debt burden to GDP. Both also say that the measures taken by the government to reduce this debt have, so far, proven inadequate.

However, both ratings agencies indicate that their outlook for the country is stable.

Moody’s said: “The stable outlook reflects our expectation that Trinidad and Tobago’s economy will modestly recover in 2017- 2020 on higher natural gas prices and production, supporting deficit reduction and the stabilisation of the debt burden.” So, is the matter serious? Yes.

Does the economy need work? Of course. Are things going to get better by the Opposition panicking the populace? Not so much.

I asked Dukharan to give the public as accurate a picture as possible of the implications of the downgrades. She said firstly, it made it more costly for government to borrow money, particularly in US dollars. This, at a time when “we are faced with weaker fiscal revenues and the need to borrow is greater, it increases the pressure on the Government’s finances”, said the economist.

Government’s response is critical.

Dukharan said it can choose to reduce expenditure and/or raise revenue. Both will have impacts on the public according to the level and the severity of the measures instituted. For his part though, the Prime Minister Dr Keith Rowley has signalled that government is taking the “soft landing” approach to the economy.

In a Tuesday night speech in Diego Martin, Dr Rowley lambasted unnamed critics at the University of the West Indies and elsewhere for advising the government to devalue the dollar, “cut the public service by ten thousand”, to slash subsidies and transfers and to reduce overall expenditure in the economy.

Such a massive decrease in government involvement could lead to the economy’s collapse and a severe reduction in the living standards of the country, he concluded.

He is not wrong. The dislocation involved in simultaneously cutting jobs from the country’s largest employer, reducing or doing away with all of this country’s government subsidised services and devaluing the TT dollar will be traumatic to a population that has become accustomed to easy living.

Dr Rowley said it is concern for the population that has his government easing it into the changes that need to be made.

It is good that the government cares about the country. But will care be the thing that kills it? I have worked in media since 2002 and every year since, I have heard experts telling governments that they needed to cut spending on transfers and subsidies and diversify the economy. It was a tune being sung long before that.

But just as the job of a political party in Opposition is to return to government, the job of the political party in government, is to stay there.

Which political organism in its right mind would deliberately bring hardship to a voting population, even if it was for the long term good of the country? They all remember the National Alliance for Reconstruction.

For the 40 and under crowd, this is the government that tried to enforce IMF conditionalities on a TT public during its term in office from 1986 to 1990. It cut public sector wages, jobs, Cost of Living Allowance and several social sector programmes touching off some of the largest labour protests this country had since the 1930s. This was also the government in charge during the 1990 coup attempt.

Imam Yasin Abu Bakr has always maintained that beyond the Jamaat land issue, hardship brought to the people was one of his reason for staging the insurrection. For its trouble, the NAR received a sound drubbing at the 1991 polls. It was decimated in Trinidad, holding on only to its Tobago seats. As one of my former editors has remarked, “Trinidadians do not do austerity well.” Just as panicking the population is not going to help, coddling it is not going to prevent it from having to face difficult realities sooner or later.

The realities are this: the country’s proven reserves are depleted, diversification is still in its incipient stages, according to several international agencies, the country’s dollar is overvalued. Meanwhile, this country’s National Insurance system may not be able to support another generation of pensioners and if several reporting agencies are to be believed, all of this (and more) is likely to come to ahead around 2030, less than 15 years away.

The Prime Minister himself remarked that whatever we earn, the priority dollars are dedicated to repaying debt. That means less money to invest in improvements in healthcare, education, social programmes and the like. With the debt to GDP ratio climbing, that’s serious.However, everybody just keeps kicking that can down the road. We are going to run out of road.

And while the Government and Opposition engage in public tit for tat, the public remains uninformed as to the gravity of the situation we are facing.

As a journalist, it is my job to provide the information for them to make proper judgements. In as straight and unbiased a fashion as possible. I’ve been listening to my radio, my TV and watching my social media over the last few weeks though, and this time at least, it was hard to remain a disinterested observer. Not with what is at stake.

Cuffie, in a release on Tuesday, commemorating World Press Freedom Day which was observed yesterday reported that the most recent installment of the World Press Freedom Index has seen Trinidad and Tobago jumping ten places from our 2016 position to be 34th out of 180 countries in 2017, “a far cry from 2012 when we occupied position 50.”

He said that this day, like every other celebration, it affords an opportunity for introspection and this year’s theme, “Critical Minds for Critical Times: Media’s Role in Advancing Peaceful and Inclusive Societies”, “is especially apropos, given the current state of affairs, locally, regionally and internationally.”

“The phenomenal rise in the use of social media has certainly contributed to a more knowledgeable citizenry.Perhaps unwittingly though, it has given free rein to those with less than noble intent to spread a level of misinformation or ‘alternative facts’, hate-inspired rhetoric and xenophobic hysteria that is unprecedented.”

Cuffie said that wholeheartedly concurs with UN Secretary General Antonio Guterres who, in his message to mark the occasion, said that “a free press advances peace and justice for all” which can be achieved by the media “giving voice to a diversity of experiences, by conflict- sensitive professional reporting, by promoting mutual understanding in particular in societies that have become polarized by hate speech or antagonistic political discourse; by dispelling prejudice and by countering the spread of misinformation.”

Cuffie said that as a former journalist entrusted with the management of a news team, he is aware that there are occasions when the media could be found “guilty of not taking cognizance of the enormity of the challenges and responsibilities that we carry on our shoulders.”

“And so I encourage our news room heads, our editors, our reporters and talk show hosts, and our media house owners to accept in its totality, the sacred responsibility upon which they embark every day – to inform, inspire, educate and entertain. I am confident that the more we encourage critical minds to flourish unimpeded in these critical times, the more valuable would be our contribution to the growth and development of both the profession of journalism, and our beloved country.”

Persad-Bissessar, who served in Panday’s cabinet from 1995 to 2001, defeated him for the UNC’s leadership in the party’s internal elections on January 24, 2010. Prior to and after his removal as UNC leader, Panday has been critical of Persad- Bissessar’s leadership of both the UNC and the former People’s Partnership (PP) government (in which the UNC was a part).

“As our political party marks its 28th anniversary, I am reminded of the struggle of our founding leaders,” Persad-Bissessar said.

Claiming the former Patrick Manning administration and the incumbent Dr Keith Rowley administration lack the expertise or the political will to manage the country’s economy, Persad-Bissessar boasted, “Under the government that I led, this country saw a return to economic growth, the creation of more than 55,000 jobs and a significant reduction in serious crime.” She also said the PP, “had a plan for further growth of our economy through diversification, and the creation of a knowledge-intensive economy that was aimed at maximising job creation to ensure that citizens enjoyed a higher standard of living.” Persad-Bissessar urged UNC supporters to commit themselves, “ to working even harder to build our party and our country.”

Police said that at about 8 pm, Harridass and the men were liming at the roadside when a gunman walked up to them and opened fire.

The men, including Harridass who is unemployed, scampered for safety. However, the gunman managed to shoot Harridass in the left leg before running off into the street. Police are yet to determine a motive for the shooting but believe that Harridass may not have been the intended target. PC George and WPC Marshall of the San Fernando Police Station visited the scene and are continuing investigations.

The US economy grew at its weakest rate in three years. That seemed to result in a lack of confidence by the public, and a conservative attitude towards spending. The reading was that the weak Q1 numbers deal a blow to plans by Treasury secretary Steven Mnuchin for growth of three percent or better.

But according to Reuters, the Q1 figures don’t tell the whole story.

“A surge in business investment and wage growth suggested activity would regain momentum as the year progresses. Wage growth in the first quarter was the fastest in ten years as the labour market nears full employment and business investment on equipment was the strongest since the third quarter of 2015.” Adds Reuters: “Also underscoring the economy’s underlying strength, consumer and business confidence are near multi-year highs.” This assessment is consistent with the general picture worldwide, as surveyed by ACCA, the Association of Chartered Certified Accountants, and IMA, Institute of Management Accountants, in their Global Economic Conditions Survey (GECS). GECS is the largest regular economic survey of accountants around the world, in terms of number of respondents and the range of economic variables it monitors. There were 1,334 responses from ACCA and IMA members around the world, including more than 150 CFOs. The survey shows that global business confidence rebounded in the first quarter of 2017 and is now at its highest level since the second quarter of 2015. The world had looked a bit different six months ago when Donald Trump was elected.

Put into office on platform of heavy protectionism, with the Leave campaign triumphant in the UK in June, and the election of Marine Le Pen of the National Front a real possibility in France, policy in these three significantly sized markets seemed about to undergo major change.

But the mood is different now. The rate of growth of global trade (of all things) is the fastest it’s been since 2015. On domestic spending, the experts surveyed think that there’s a good chance that it could significantly increase in major European economies, as the unpopular but necessary-at-the-time austerity measures come to an end. They’re preparing to unband their bellies a little, even as we in Trinidad and Tobago tighten.

The survey reports clear signs of a synchronised and sustained recovery since 2011, and expects that to continue over the next two quarters. The other side of the US protectionist coin is tax cuts and spending.

So while there had been (and there still are to some extent) expectations of tightened trade, there are also expectations of increased infrastructural spending and tax cuts. Both have contributed to a buoyant business mood, even though little has actually materialised as policy.

Although there’s more glumness than cheer in the Caribbean, increased consumer confidence in the US generally portends good news for the region. If for example consumer spending picks up, some of those dollars would head to Caribbean destinations, at Fyre levels and below.

The Caribbean Tourism Organisation reported visitor numbers of 29.3 million in 2016, up 4.2 percent year on year. Belize, Turks and Caicos, Bermuda, Antigua and Barbuda, Barbados, Cuba, Guyana, Grenada and Montserrat all recorded double digit increases from the US. Despites the struggles of other sectors of the economy, this is welcome good news for the Caribbean.

Public debt, for example, remains high, especially in the tourism-dependent economies. Since 2010, Antigua and Barbuda, Belize, St Kitts and Nevis, Grenada and Jamaica (twice) have had to default on and restructure their debts. Only two countries in the Caribbean and Central America have successfully achieved a large debt reduction since 1990 without defaulting – Panama, and Trinidad and Tobago. Trinidad and Tobago is dealing with grim economic news of credit downgrades and the introduction of a new property tax, but it can take some comfort in this.

Cautionary tale, though. There are inflationary fears, with nearly half (46 percent) of firms reporting increasing costs as a cause for concern. Despite this, 22 percent are planning to create more jobs and raise capital expenditure, up from 16 percent and 14 percent respectively in the fourth quarter of last year. Despite the notes of caution, there are signs that the global economy is returning to some health after some tough years. The IMF is expecting global growth of 3.4 percent this year, the fastest rate since 2012.

Follow or ping me a response on twitter, @oringordon.

Dear Doubting, You may be surprised to hear this, but this conundrum is quite common among job hunters nowadays, especially for young professionals.

There may be many things churning in your mind that can have you swimming in a sea of self-doubt, ultimately prohibiting you from applying for a new job. Sometimes your inner critic can be you worst enemy getting in your own way.

Fighting those inner demons may be tough, but here are a few pointers to help overcome them.

Confidence is EVERYTHING! Tony Schwartz, the president and CEO of The Energy Project and the author of Be Excellent at Anything: The Four Keys to Transforming the Way We Work and Live said, “Confidence equals security equals positive emotion equals better performance.” The first thing that should be addressed is your confidence.

Having insecurities doesn’t mean that you are inadequate.

We all feel this way sometimes.

The key is to identify and acknowledge it and make steps towards improving on the things that stifle your confidence.

What are the things that make you feel insecure in applying for a job? Change? – Inevitable.

Competition? – It will always exist. Lack of experience or qualifications? – Focus on what you can ultimately contribute to the job. What exactly are your abilities? Don’t undervalue yourself, be honest with about what you can do and what you know.

Have a winning resume Your resume is one document that you shouldn’t be too modest about. Remember this is where you make a first impression to recruiters who will be looking at deciding whether to even consider you among hundreds of other applicants. Now don’t let that be intimidating – let it be a challenge to showcase how awesome you are.

Challenge is good. Give yourself credit but don’t exaggerate. Don’t just highlight your tasks as outlined in your current and past job description.

Focus on things you have accomplished, projects you have worked on successfully and targets met. Grab a pen and a notepad right now and start writing down some of your achievements.

Success is 90 percent preparation, ten percent perspiration The next part of presenting yourself is the interview.

Practice, practice, practice! Conduct your research and practice the responses to potential questions that can be asked in an interview until they become second nature.

List the attributes of an ideal candidate for the job and use it to construct relevant responses.

Knowledge is power, so the better you are prepared, the more you will slowly start to diminish some of your inhibitions that hold you back.

Sometimes you win.

Sometimes you learn – Take the risk.

Be open to new possibilities and take some risks. Many people don’t know what they are capable of until they are truly tested. Go ahead and apply for the job and go to the interview. Research has shown that even if you are not successful in an interview, often times there are things you can do to improve on to increase your chances next time. At the very least, you should feel as though you have learnt something through the interview process.

Consider it a test drive for the real job awaiting you.

Positive energy Positive energy is a must! Many a times, this comes in the form of your network or the people you are frequently around – be it your family, friends or co-workers. These people are also the ones who can highlight some positive things about you that you are unaware of. This support system picks you up when you’re down and injects positivity in you whenever you need it.

However, in their absence, you can be that person for yourself.

Give yourself your own pep talk occasionally, if necessary.

Say “I’ve got this”, read an inspirational Pinterest quote, write something that’s beautiful about yourself on a sticky note.

This is all part of promoting a healthy attitude about yourself.

So, the next time a vacancy pops up that seems to have your name on it – release your inhibitions and go for it. Also, remember not to be too hard on yourself. The more you undervalue yourself and focus on your shortcomings, the more you will continue to pass up potential life changing opportunities.

Interestingly, once applied, these tips can not only improve on your career but also, your everyday life. The right mindset will significantly boost your overall state of being and performance. When you think positively and believe in your abilities, you’ll recognise success.

AFETT is a not-for-profit organisation formed in 2002 with the goal of bringing together professional women and engaging in networking opportunities, professional training and business ideas. ASK AFETT is a column meant to address issues and concerns of professionals seeking advice to assist in progressing in their careers.

Today’s response was written by AFETT member, Candice Fermine (MBA), compliance professional with over nine years’ experience in finance, investments and risk analysis. Learn more about AFETT at www.afett.

com, search for AFETT Events on Facebook, follow us @AFETTEXECS on Twitter or contact us at 354- 7130. Email us your career-related questions at admin.afett@gmail.com

It is believed that this is the route described by Charles Kinsley in 1870 in his book, At Last, on his journey to Blanchisseuse. The vegetation on the mountain slopes is known as Lower Montane Forest is 400 to 600 metres, however, along the ridge this distinguished track is endangered due to soil erosion and lack of use. On the mountain crest one can get occasional glimpses of the La Fillette coast and up in the trees are the harsh raw “ahh or creeahh” sound of the red and green macaw (Ara Chloropterus).

The trail continues north west for two kilometres and passes through broken areas of rugged terrain. Another track which originates from the Rest Hut on the El Tuchuche Caurita Ridge branches into the pathway. Further along, the trail comes to a junction where three routes are located. The one to the right diverts to Yarra River, the straight path leads to Las Cuevas and the one on the left rises to an altitude of 486 metres or 1,593 feet then descends to the Rincon Valley.

This exploration is the perfect training hike to test one’s fitness for the upcoming Hikeathon on May 13. The estimated time from Caura to the Rincon Basins is five to six hours and the distance to trek is ten kilometres.

Assembly: 7 am at Eric Williams Medical Complex, Mt Hope. Maxi pick-up to Caura with return transportation at 2 am from Rincon Village.

Rate: 6 challenging Bathing at Rincon Basin For more info: islandhikers.com

However, I have fond memories of this gentle cricket giant.

The man I am referring to is Prince Bartholomew. Prince gave yeoman service to TT cricket during the Shell Shield era. Those were the days when regional cricket was like Test cricket, and competition between teams was fierce, like lions fighting.

Together with pacer Pascall Roberts, these men rocked opposing batsmen on their heels.

They were no pushovers, but relished going after the greats of the game and giving fans value for money.

Prince bowled a lively medium pace which was tight like an old rusty pliers, and Pascall a deceptive pace with the “bow tie bouncer.” Unlike cricketers of today, bot men were not afraid of hot sun.

Thanks Prince. Like Ranjie Nanan, you were great.

KEITH ANDERSON via email

With an eye on brevity, this is the brief listing of the grounds: * Both Acts are dated for implementation beginning January 1, 2010, have lapsed and consequently lost their internal coherence, chronology and sequence of events by 2017, militating against legal and proper enforcement and in need of urgent judicial review.

* Previous property tax legislation has been prematurely repealed, establishing a legal vacuum or lacuna without any assessment rolls being compiled by the Commissioner of Valuation that is conditional for effective start-up.

* The May 22 deadline for owners of land to submit returns proclaimed by the Minister of Finance is a figment and fig leaf of his imagination without legal basis.

* Act No 18 is a violation of Sections 5 and 6 of the Constitution without being passed with the requisite constitutional majority.

* It is also an infringement of the constitutional rights to property ownership/possession and not to be deprived thereof, except by due process, as well as the right to privacy.

* Even if it complied with Sections 5 and 6 above, the Property Tax Act No 18 of December 31, 2009, is so draconian, oppressive, disruptive, unilateral and an unprecedented quantum and astronomical percentage deviation from the prevailing tax norm, and a denial of legitimate expectations, that it fails and would fail the test of proportionality in a democratic TT .

* The prevailing, adverse, regressive and plummeting socio-economic ecology will reinforce the applicability of the above-mentioned proportionality factor that can be upheld in and by a court of competent jurisdiction.

STEPHEN KANGAL Caroni