Former Minister in the Ministry of Finance, Mariano Browne says there is no doubt that the Government needs the income it will earn from the property tax at this time.
He made the comment while speaking on the Power Breakfast Show on Power 102 Digital this morning.
Mr Browne said while the tax is unpalatable, people may be more inclined to support its introduction if they know that it will benefit them directly.
Mr Bowne also provided some insight into the country’s economic situation ahead of the National budget which is due to be presented in a few weeks.
There has been speculation over a possible improvement of budget figures with some quarters citing the 100 percent year on year increase in the price of natural gas.
Natural gas prices have doubled this year and are expected to continue to rise to above $5 per MMBTU, for the first time since February, 2014.
However, Mr Browne claimed that the increase will not be reflected similarly in T&T’s revenue due to the limited volume of gas being produced in the country.