Trade unions were divided on the TT$63.3 billion (One TT dollar=US$0.16 cents) budget presentation with one veteran trade unionist describing it as ‘excellent’ and nurses and public sector workers saying they are disappointed.
On Monday, Finance Minister Davendranath Tancoo said that the government had allocated funds within the 2026-27 fiscal package to meet the proposal to pay 40 per cent of outstanding arrears in cash to public sector workers.
Tancoo said that despite trying financial circumstances, last December, the government provided for a partial cash payment of TT$230 million to members of the Public Service Association (PSA).
But PSA president, Felisha Thomas, speaking to reporters that the union will not be accepting ‘any 40 per cent cash.
‘We will not be considering any non-cash items. We did put some considerations before the CPO (Chief Personnel Officer) which was rejected and we will not be accepting what is on the table right now,’ she added.
President of the Trinidad and Tobago National Nurses’ Association (TTNNA), Letitia Cox, said she is disappointed by the budget presentation.
Cox said there was no mention of nurses despite previous promises by the Kamla Persad-Bissessar government that nurses would be taken care of and that the silence on nurses’ arrears and the proposed 10 per cent wage increase was particularly disappointing.
‘I must say we were optimistic. We were hoping that the Honourable Minister of Finance would have made good on the promise he made during the Mid-year Budget Review. He actually called nurses’ names, saying that we would be addressed and would receive the increase,’ she said, adding ‘we expected him to speak to that, and here it is: I came personally to sit in the gallery to hear that good news, and I was disappointed.’
Cox said the TTNNA will participate in the public march against Government on October 23,encouraging members not to lose faith.
‘I know you are discouraged. I know you are disheartened, but we are here for you and we want you to come out with us on the 23rd of October. We want you to know we are ready for the fight and we are going to defend you with all that we have,’ she added.
President General of the Oilfields Workers’ Trade Union (OWTU), Ancel Roget, described the fiscal package as ‘excellent.’
The OWTU is supportive of the government’s plans to reopen the Petrotrin oil refinery and had through its business company, submitted an unsuccessful bid to the last government in a bid to take ownership of the refinery.
On Monday, Tancoo said the government intends restarting the refinery that was officially shut down on November 30, 2018, by the Keith Rowley administration due to billions of dollars in debt and operational losses.
The previous government had said that the 101-year-old refinery had accumulated an estimated TT$12 billion (One TT dollar=US$0.16 cents) in debt and lost about eight billion dollars over a five year period.
‘We will restart the refinery. We are advancing the phased restart of the Guaracara Refinery at Pointe-a-Pierre. Following receipt of the Comprehensive Report of the Refinery Restart Committee, government is evaluating proposals from a shortlist of serious local and international investors.
‘Let me be clear, we will approach the restart of this national asset with fiscal discipline. Our objective is to secure a credible, commercially viable and fully financed arrangement that protects the national interest while creating the conditions for renewed economic activity,’ Tancoo said.
Meanwhile, the Trinidad and Tobago Chamber of Industry and Commerce (TTIC) has welcomed the government’s renewed focus on the non-energy manufacturing sector and support for local industry.
It said that manufacturers continue to face significant challenges but said measures aimed at improving business competitiveness and facilitating growth were positive developments.
The American Chamber of Commerce of T and T (Amcham T and T) said the business community would be closely monitoring how quickly announced initiatives are translated into meaningful outcomes.
‘Amcham T and T firmly believes the true measure of Budget 2027 will not merely be policy announcements, but the speed, transparency and accountability with which these commitments are translated into measurable results,’ it added