The Tobago House of Assembly’s (THA) Minority Council says the THA’s draft estimates for revenue and expenditure for fiscal 2020 presented by Finance and Economy Secretary Joel Jack yesterday are “a colossal failure.”
In an immediate reaction just after Jack presented the over two-hour long $4.72 billion budget, Minority Leader Watson Duke gave the budget a failing grade.
Duke, leader of the Progressive Democratic Patriots (PDP), said Jack’s projection that the THA will make just over $200 million in revenue out of the required $4.7 billion, showed the THA cannot run the island’s economic affairs.
He noted that the assembly’s revenue should have been greater because it now has special purpose companies like the Cassava Products Company Ltd, Studley Park Enterprise Ltd and the Fish Processing Company of Tobago Ltd.
“Now that we have a number of things that should be boosting the economy, he is saying to us that the revenue that is expected to be generated next year will be less than the revenue they made this year.”
Reporter: Loyse Vincebt