2019/2020 Fiscal Budget with the theme ‘2020 Stability Strength and Growth’ is the talking point for citizens of Trinidad and Tobago; whether you’re a housewife, career driven individual, garbage collector or a businessman or woman watching every penny spent, the Budget sets the tone for the new year and quite possibly the deciding factor for eager voters.
So here is IzzSo media ‘Top Ten’ Budget highlights which persons can pay special attention too, and compare and contrasts what they’ve noticed from the last Budget.
10 – OJT stipends increased by 10%
– OJT Intake Increased to 8,000
9 – Retired daily paid public servants to receive minimum $3,500 pension
8 – CEPEP wages and contractor fees increased by 15%
– URP wages increased by 15%
7 – All taxes and duties removed from agricultural products – no taxes on farmers
6 – $6M tax allowance for companies who support and sponsor sport, culture & arts
5 – Government to introduce day care centres for children under 3 years old in communities throughout the country and shelters for women displaced through domestic violence.
4 – Styrofoam and single use plastics banned- plastic water bottles banned in government offices
3 – Heritage Petroleum Company Limited generated revenue of $3.287b in the first three-quarters of operation, including a $543m net profit.
2 – The Red House is nearing completion at a cost of $441.0 million and upon commissioning, in January 2020
1 – Minimum wage increased from $15 to $17.50 as at December 1st, 2019.
Also here are some bits and pieces which didn’t make make the ‘Top Ten’ but received an honourable mention -:
A – All domestic bulbs to be replaced by the government free of charge – 400,000 citizens to benefit
– All taxes to be removed on LED bulbs
B – Elimination of life certificates for pensioners
Credit unions now allowed to carry out banking services – example cashing checks
C – VAT refunds to be brought up to date
D – Government announced a parking meter system for Port of Spain and San Fernando in 2020. Traffic tickets will be paid through TT Post and online.
E – Elimination of arrival forms at airports to reduce lines
F – 200 tablets for police vehicles for immediate referencing of traffic offenders, 50 dashboard cameras, 300 body cameras, surveillance drones, polygraph equipment & drug-testing equipment for police officers.