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Categories: Economy

16 FAILED IMBERT 2021 BUDGET PROMISES

WITH the 2021-2022 national budget due within the next few days, it is timely to review failed promises of Finance Minister Colm Imbert from the current fiscal year. 

Here is a sample of 16 budget promises that were not delivered: 

  • The long-promised National Statistical Institute (NSI) was again pledged by Imbert in the 2020-21 budget.

But again there were no advances on the NSI, which was first listed in the PNM’s 2015 general election manifesto. 

  • Imbert said a $500 million Agriculture Stimulus Package would attract investments into the sector and bring down the high food import bill, which “we can no longer tolerate.”

    There has been no reduction in the food import bill, and no evidence of investments in the ailing agricultural sector.
  • Imbert spoke of “improving the efficiency of the public sector” through an extensive programme of digitisation.

    Even with the appointment of a substantive government minister, there has been slow progress in digitising the public sector, which remains as inefficient as ever.
  • The Value Added Tax (VAT) refund system “will be made more efficient,” Imbert promised.

    Businessmen still tell of lengthy waits for refunds, which have enormous negative effects on their cash flow during these difficult economic times.
  • The Ease of Doing Business placement of 105th in the world is “totally unacceptable” and would “improve,” Imbert vowed.

    Again, there have been no such improvements.
  • A “new model” was promised with respect to social development, including an expanded safety net, an integrated response system, an improved approach to at-risk communities, and introduction of a national services card.

    Other programmes were also pledged, but implementation remains a problem.
  • An “enabling environment and necessary subsidy” would be offered for all State-supported housing mortgage loans, Imbert said.

    This, too, has been slow to get off the ground.
  • “Our health infrastructure has been meeting the demands of a growing society and remains consistent with global advances,” according to Imbert.

    The reality, though, is that there are long waiting periods for triage medical attention at public health institutions, and reports of shortages of pharmaceuticals.
  • A report into the Water and Sewerage Authority would determine “the levels of investments adequate to the needs of an efficient water supply…”
    The recommendations of the 185-page report have not yet been implemented.
  • “The Government remains committed to the fight against crime and criminality,” Imbert said.

    But funding of the Police Service and other protective services remain a major bugbear.

    As a result, a large number of the 800 police vehicles are in disrepair, CCTV cameras remain out of service, patrol vessels are laid up, and there are insufficient camcorders, tasers and other essentials for lawmen.
  • If negotiations cannot be concluded with Patriotic Technologies for the sale of the Pointe-a-Pierre refinery, “the Government will consider other options…”

    That divestment remains stalled, and the refinery is still mothballed.
  • “We are keenly focused on improving the investment climate in the energy sector,” Imbert stated.

    There have been no new investments during the fiscal year and certain multinationals have announced rolling back of their operations in the country.
  • Imbert promised that “special incentives will be provided to stimulate innovation among SMEs…”
    Instead, the SME sector, made up of almost 20,000 businesses, has become decimated as a result of Covid-19, the foreign exchange crisis, and the weakened state of the national economy.
  • “By the end of fiscal 2021,” a private sector operator would be brought to undertake cargo handling at the port of Port of Spain.

    That project has not yet taken place.
  • Economic diversification would take place in several sectors, Imbert said, as Trinidad and Tobago becomes “a competitive hub for trade and investment – an attractive location for businesses to take root and flourish.”

    Again, there was no headway in diversification of the economy.
  • Several Wi-fi hotspots and internet cafes would be provided, as part of a “broad digital strategy” to “come into effect in fiscal 2021.”

    There s no evidence of such digital projects “in all areas of the country,” as Imbert promised.
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