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  • 6 months ago
A deep financial hole! The Prime Minister apprised the nation of T&T's economic dilemma

Pennelope Beckles-Robinson was sworn is as Opposition Leader

and Gary Griffith resigned as Political Leader of the NTA
Transcript
00:00Good evening and welcome to the past seven days on six I am Vanessa cutting as what made the news
00:23this past week a deep financial hole the prime minister prized the nation of TNT's economic
00:30dilemma Penelope Beckles-Robinson was sworn in as opposition leader and Gary Griffith resigned as
00:38political leader of the NTA as per usual if it was happening it was on six let's get right into it
00:4511 billion dollars that's the estimated deficit for fiscal 2025 as TNT's expenses continue to
00:55outstrip its income Prime Minister Kamala Posada Sessa made the grim announcement last week
01:02saying her government had inherited an empty treasury but she gave an assurance that they
01:08will find the money to meet the country's commitments the cash flow statement gives an
01:14estimated update of the government's immediate status by month which is informed by multiple
01:20divisions of the finance ministry in April 2025 just last month total cash inflow was estimated at
01:283.95 billion dollars and total cash outflow was estimated at 5.28 billion what is it telling us
01:38the outflow is more than inflow so we have a deficit that was met in April from the central bank's
01:47available overdraft cash balance by the end of April available overdraft cash balance was 3.6 billion of which 2.7
02:002.7 billion was carried forward to May 2025 so from April available overdraft 2.7 billion is carried forward to this month of May
02:11it should be noted however that there was an outstanding balance of on-pay cheques in the system
02:18valued at 500 million which was also carried forward to me carried forward to me cash inflow so me from the various revenue sources of the government's
02:18estimated 2.38 billion however it is estimated that the cash overflow will be around 6.3 billion result in a cash deficit position of 3.92 billion dollars this month
02:33worse if all the unpaid checks in the system were presented for payment this would add a further 500 million to the deficit for the month of May this will then take our total deficit in this month
02:48to 4.42 billion dollars for this month for this month for this month and therefore the minister of finance will need to find funding so while we give you the reality of the situation we will fix it
02:55if all the unpaid checks in the system were presented for payment this would add a further 500 million to the deficit for the month of May this will then take our total deficit in this month to 4.42 billion dollars for this month
03:07and therefore the minister of finance will need to find funding so while we give you the reality of the situation we will fix it
03:184.42 billion dollars in deficit the month of May can be funded as follows
03:25one we propose to draw down under the remaining 2.7 billion dollars available in the overdraft facility at the central bank
03:36two we propose to refinance a minimum of 60 percent of treasury bills due in May
03:43this is free up about six six hundred and forty seven point seven million to address part of the deficit
03:51while it is estimated that 60 percent will be used it is more practical to refinance the entirety of the 1.1 billion in treasury bills to leave some within space
04:05with the balance in overdraft so it's a combination of plans that we have to fill that deficit that we have inherited
04:12we will also look at the HSF available balance in the HSF to be drawn down for the rest of fiscal year 25 of 1.76 billion
04:24we will have to undertake additional borrowing of a million of about 1 billion dollars
04:31so I've raised the questions about June's cash flow the expected deficit for fiscal 25 and
04:39it means at the end of this fiscal year that deficit is about 11 billion dollars
04:47the prime minister also shed light on our government's plans to enhance tax compliance
04:54while simultaneously scrapping the revenue authority
04:58it's out with the TNT Revenue Authority and a continuation of the Board of Inland Revenue
05:04but with some changes
05:06the announcement comes from Prime Minister Kamala Passat Bisasa
05:09in keeping with government's stated policy this government's policy
05:13government will focus on resources on strengthening the BIR
05:18instead of spending to establish this failure of a TTRA
05:24in this regard the following measures will be explored
05:29strengthening the composition of the BIR
05:32by increasing the number of commissioners
05:35we will also give consideration to including non-public officers as commissioners
05:44as this will allow for greater expertise to be included in the BIR's governance structure
05:50The Prime Minister says amendments will be made to the Income Tax Act
05:54mandating the BIR to host board meetings on a monthly basis
05:59establish subcommittees for greater management
06:02establish timelines for the BIR to deliberate on important matters
06:06notify the Minister of Finance
06:09Minister of Finance on important matters
06:12excluding taxpayer information
06:15and I'll come back to that in a moment
06:17and to establish policy in the Inland Revenue Division and other matters
06:22establish a corporate secretariat in the BIR
06:26to allow for proper governance and record keeping
06:29according to the Prime Minister
06:31the Inland Revenue Division will see a full complement of staff
06:35risk management and compliance improvements
06:38a special committee will be established
06:41the value to make proposals for an effective suite of measures
06:45to enable citizens of course to comply with the law
06:50Passat-Bissessa states that only 32.6% of public officers bought into the TTRA
06:57which she views as an abysmal failure
06:59she expressed concerns over the TTRA legislation
07:03they placed into the law a bill that was brought to the Parliament
07:07some very dangerous provisions
07:10and we have already seen evidence how dangerous those provisions could have become
07:15and what that was is they were weaponizing private data
07:20to attack those they didn't like
07:23or to attack and vilify those they felt that were not in their own fold
07:28in their own party
07:30and we saw it with Derek Chin
07:32she says that the UNC when it was in opposition
07:35just could not support it
07:37Alicia Boucher, TV6 News
07:39weighing in on the situation
07:41Chairman of the Tobago Business Chamber, Martin George said
07:45Trinidad and Tobago's economy is at the bottom of the barrel
07:49Martin George, who is also in a tyranny at law, tells us
07:53the country may need a miracle to get out of the financial situation it is in
07:59he says it would be a challenge for any government administration
08:04George says the real question is how did we get here
08:08you think of where we were positioned you know decades ago
08:12in the Caribbean as at the top of the financial table
08:15you know and now basically we are at the bottom of the barrel
08:18you know no pun intended in terms of an oil barrel
08:22but I mean the reality is that you know everybody is laughing at us
08:26George says his chamber has requested a meeting with the Prime Minister
08:30to get Tobago at the forefront of diversification
08:34he says the nation is backed into a corner and there is no other option available
08:39the attorney also weighs in on the stand your ground legislation
08:44it was announced at Thursday's post cabinet media briefing
08:48that a special committee will be established to look into the application of the law
08:53we will see how it goes in terms of its applicability
08:56because the question now is going to arise as to where do you draw the line
09:00between self defence and the use of excessive force in a scenario
09:05which may not warrant that type of thing
09:09George also shares his perspective on the election results
09:12and the shift in the behaviour of the electorate from voting for the PNM
09:17there is definite need for the party you know to re-examine its role, its function, its you know
09:26its mission in terms of you know listening to the cries of the people on the ground
09:32Marlon what this election results showed us nationally not just in Tobago
09:37is that there are so many persons in Trinidad and Tobago
09:41leading lives of quiet desperation
09:44Nicole M Romany, TV6 News
09:48we add to a quick break, we'll have more news when we return
09:52thanks for staying with us
10:01opposition does not mean obstruction
10:04the words of opposition leader Penelope Beckles Robinson last week
10:08as she received her instrument of appointment
10:11she began her inaugural speech extending congratulations to her political opponent
10:17Madam Prime Minister your leadership is historic
10:21and today it carries even deeper meaning for me personally
10:24as I stand here not only as leader of the opposition
10:28but also as a former student once seated in your classroom
10:33your journey from educator to prime minister serves as a profound reminder
10:38that our nation remains a land of possibilities
10:42opposition leader Penelope Beckles shares the humbleness of her own beginnings
10:47my journey from Bognar village in south Trinidad and Tobago
10:52without electricity and running water
10:54to become the first female opposition leader of the people's national movement
10:59it's a story that I hope inspires every young person
11:11and especially the young woman
11:14a testament to her that through good leadership and policies
11:18the trajectory of one's life can change in Trinidad and Tobago
11:23I serve for you the parent who dreams of a better life for their children
11:28I serve for you the entrepreneur in need of support to thrive
11:34I serve for you the young person who desires to further your education
11:40I serve for you the recent graduate seeking decent work
11:45and her journey was not one without its share of tribulation
11:50this daughter of the soil knows what it is to be silenced, silenced and sometimes rejected
11:58through every challenge I have stayed the course with resilience
12:03only possible through God's grace
12:06for leaders on either side of the proverbial coin must have people at heart
12:13let me be clear
12:15it is not my conviction that opposition means obstruction
12:21true leadership is not necessarily loud, aggressive or denigrating
12:27it is steady, thoughtful and courageous
12:30our democracy flourishes not through divisiveness
12:34but through robust debate, shared purpose and mutual respect
12:39the opposition though small in number will be gatekeepers
12:44some may mistake quiet strength for weakness
12:47but I offer you firm resolve guided by compassion and wisdom
12:52and underpinned by my experience and boundless faith in our destiny
12:58we must model for the youth of this nation
13:02our future leaders a new way
13:05where collaboration is valued over confrontation
13:10prosperity she promises will come to every home
13:14every community and every village
13:17we will hold the government accountable yes
13:20but always with your best interest at heart
13:24we will be vigilant, accessible and responsive
13:28as we provide constructive scrutiny
13:32advocate for policies that reflect your aspirations
13:36and stand firm against injustice, inequality, malice, nepotism and corruption
13:44her role is clear
13:46the role of opposition even as we demand accountability from the government
13:51is not to sow discord or tears at the fabric of our society
13:56in a narrow quest for power
13:58I dare say that under my leadership
14:01the people's national movement bench
14:03will adopt a standard higher than was previously existed
14:07we will not only hold the government to account
14:10we will also support forward thinking future focus
14:14visionary legislation and policies that uplift our people
14:18and the position of Trinidad and Tobago
14:20for long-term success
14:22and the PNM the opposition leader
14:25assures will be ready for the next swing of the political pendulum
14:29Orvishu Tamari Rupnarein, TV6 News
14:33Meantime, the PNM's new chairman said
14:35she was elected to the post by the party's general council
14:39at what she described as a very critical time
14:42in the PNM's transition to opposition
14:44however there was no indication forthcoming from Dr. Nyan Gatsby-Dali
14:49as to when the party will elect a new political leader
14:53just hours after RIMA MP Penelope Peckles-Robinson was sworn in
14:58as the new opposition leader on Tuesday
15:00Dr. Nyan Gatsby-Dali was elected chairman of the PNM
15:03at a special meeting of the party's general council
15:07at Balizie House
15:08Dr. Nyan Gatsby-Dali
15:09I want to thank the general council for the confidence
15:11we posed in me to serve as the chairman
15:14during this very critical time in the PNM's transition
15:17as we look forward towards the organization of our
15:21internal election where we will fill the political leader position
15:25that is very critical to be filled
15:27as we move into opposition and organize ourselves
15:30to be the formidable opposition that we expect to be
15:34as we wish to assume our position
15:37as the government of Shunada had on to be
15:39The PNM's new chairman is now an opposition member
15:42as is the party's new vice chairman, Colm Imbert
15:45The PNM's general secretary, Foster Cummings
15:48sought to make one thing clear about who will now be
15:51the lead spokesperson for the party
15:53The official voice of the PNM opposition
15:56will be the leader of the opposition
15:59who received the appointment today
16:01The PNM's general secretary said there were two nominees
16:04for party chairman and only one for vice chairman
16:07at the meeting which was attended by 122 members
16:11of the general council
16:1260 votes for Dr. Nyan Gatsby-Dali
16:1658 votes for Mayor Chinua Allen
16:20and 4 spoiled ballots
16:22As a result, the new chairman of the people's national movement
16:29is Dr. Nyan Gatsby-Dali
16:31The new vice chairman of the PNM
16:34having been uncontested
16:37is MP Colm Imbert
16:40The PNM's new chairman and vice chairman
16:42both served in the cabinet for the past 10 years
16:45led mostly by former Prime Minister Dr. Keith Rowley
16:48and briefly by former Prime Minister Stuart Young
16:51until the PNM's resounding loss
16:53in the 2025 general election last week
16:55On his last day as the PNM's political leader
16:59Dr. Rowley revoked the deputy political leader
17:01appointments of Dr. Gatsby-Dali
17:03and Mr. Imbert
17:04The PNM's new chairman expressed no ill feelings
17:07If you're into politics, it's a very dynamic space
17:10and I think Dr. Rowley has prepared his young people
17:15he calls us his young people
17:1710 years ago he took us
17:19and gave us responsibility
17:21and I think Dr. Rowley is going to be very proud of the fact
17:25that he has raised a cadre of leaders
17:28that can take their rightful place
17:30now that he has moved on
17:32to the organisation of the party
17:34the leadership of the party
17:35I think that is very important
17:37and I think he'll be very proud of us
17:39The PNM's new vice chairman followed up on that point
17:42with a statement he said he was making on his own behalf
17:45And I will not be contesting a position in the next internal election
17:50I will wait for whoever is appointed leader
17:53and see whether that person in their wisdom
17:56may wish to ask me to be a deputy political leader
17:59but I won't be contesting chairman, vice chairman or any position
18:02I think it's time for younger people and fresh faces
18:05to come forward and take over the leadership of the PNM
18:09The PNM's general secretary said the appointments of the party's new chairman
18:13and vice chairman are interim in nature
18:15until the PNM summons an annual convention for its internal elections
18:19Jewel Brown, TV6 News
18:22This is the past seven days on six
18:25We'll be right back
18:32Welcome back
18:34Philip Alexander was sworn in as the new minister
18:37in the Ministry of Housing last week
18:39days after the swearing in of his other cabinet colleagues
18:42that makes three ministers in the ministry
18:46The Prime Minister, she is extremely busy dealing with all of the pieces on the board
18:51and with all of the conversations that we were having
18:55there were other positions and posts she was looking at
18:59She finally decided on this one and here we are
19:03The new minister in the Ministry of Housing, Philip Alexander
19:05responding to a question from the media as to why he received his new appointment
19:10some four days after Prime Minister Kamla Fassad-Bissessa appointed most of her cabinet
19:15Mr. Alexander leads the PEP, which is a part of the UNC-led coalition of interests
19:20A lot of people don't know, but when I'm not in politics, what I am is a property developer
19:24The Prime Minister told the media the new trade investment and Theresa minister
19:28who also took his oath of office on Wednesday
19:31had been out of the country on Saturday
19:33but no mention was made of Mr. Alexander at that time
19:37Senator Alexander's appointment now means that he and Senator Anna Roberts
19:41shall both be ministers in the Ministry of Housing
19:44being led by Housing Minister David Lee
19:47We have a list of over 100,000 people trying to get houses in Trinidad
19:50and we have so, and people have been on that list for decades
19:56we have so many unfinished projects
19:58the idea was to get it done, put capable, strong people together
20:04and see if we could put that list down as fast as possible within the next couple of years
20:09and maybe six users sought a clarification from Minister Alexander
20:12It is not uncommon when a new government is elected into office
20:16that there may be a review of the list of those who have applied for state housing
20:21Is that something that could be expected this time around?
20:24Well, I think the list needs evaluating
20:27because it's a long list and it's an old list
20:31There have been people who have spoken to me over the years
20:34that have their number and their name on that list 25 years
20:38So, at some point we have to make it make sense
20:41and I think that that should be the first order of business
20:44to see what exactly is the size of the problem we need to solve
20:48and get down to the business of solving it
20:50Like Minister Roberts, Minister Alexander is known for being very vocal about a range of issues
20:55Will he continue to do so as a member of the government?
20:58I am first and foremost a team player and I am very good at taking my cues from seniors
21:04That said, I know the Honourable Kamla Persaud-Bissessa SC knew who I was when she brought me into the mix
21:13And yes, there have been a couple of times when she would say, rethink that comment
21:19And I am figuring out her tenor, her tone and aligning myself with that
21:27There are some things that I see going on in the public space that I would like to respond to
21:31but that's not my responsibility right now and I have to be mindful of that
21:35The new minister in the Ministry of Housing says he looks forward to meeting with the new housing minister
21:40and taking his cues from him
21:42Jewel Brown, TV6 News
21:45And Gary Griffith resigned from the party he founded
21:48However, he said the National Transformation Alliance will forge on
21:52And added, he will continue to serve the country in whichever capacity the country sees fit
21:59Gary Griffith has officially resigned as the political leader of the National Transformation Alliance
22:06The party he founded in 2022
22:09The NTA contested the local government elections in 2022
22:14As well as the 2025 general election
22:17However, failed to secure a seat
22:20Deputy political leader Norman Dindial has assumed the post of interim political leader
22:26How I have been trained as a leader is that if it is you are not successful in a mission
22:32What you should do is to step down to allow others to move forward with the organization
22:36So I do wish the NTA the best
22:38There have been others who have also resigned primarily because they believed in me
22:43And they joined just because of Gary Griffith
22:46But there are others, there are many others who would like to step in, fill the bridge
22:50And replace those individuals who have stepped down
22:52The NTA provided the opportunity for that bridge constituency of persons who wanted a change
22:58Who wanted something different to the PNM or the UNC
23:00The NTA secured just over 5,900 votes in the 2025 general election
23:08Congratulations to both political parties
23:10They acquired 550,000 out of the 600,000 odd votes
23:14The sad thing about it is that the 50,000 odd persons who voted outside of the PNM or UNC
23:18There's no representation for them
23:20That's just about 8% of the voting turnout
23:24Sometimes third parties get over 20%
23:26Like the Congress of the People, the NAR and the ONR
23:29And there's still no representation
23:31So decades later, we have a fluid process of governance
23:35So what's next for the former top cop?
23:38As he is still commonly referred to
23:41I will continue to serve my country as my country sees fit
23:44But it seems that I have become a victim of my own success
23:48People only and solely remember Gary Griffith as being the crime fighter
23:51Protecting Trinidad and Tobago
23:53So it seems that all the citizens of Gotham City
23:55They do not want Gary Griffith to lead the country
23:58They probably just want him to protect the country
24:00I don't know what the future holds for me
24:02But I will continue to make myself available
24:04To serve my country as my country sees fit
24:06The process for the selection of a police commissioner is currently underway
24:11Also happening last week
24:13The Prime Minister confirmed that the demerit point system
24:16Which was meant to improve TNT's driving culture
24:19Is to be scrapped
24:21We have started plans today
24:24And we plan to complete in the coming months
24:28This includes scrapping of the demerit point system
24:39We have already dealt with the issue
24:41Of introducing stand your ground and home invasion laws
24:45We will be reviewing shortly firearm license laws
24:49Remember we said we will consider giving legal firearms
24:53Legal firearms to law abiding citizens
24:57But they will only be given to persons who want it
25:00So I see some people complaining
25:02No, no, no
25:03Well if you don't want it
25:04Well you know how to
25:05Do not apply
25:06The move was welcomed by the Taxi Drivers Network
25:10President of the Trinidad and Tobago Taxi Drivers Network
25:14Adrian Acosta says
25:15For far too long his association protested against the points system
25:19And today
25:20The association is pleased to hear that the Prime Minister
25:23Has announced the scrapping of the demerit points
25:25We believe that the only two road traffic or road breaking
25:35That the point should be for
25:38Is the injured driving and driving under the influence of alcohol
25:44All the other points that they were given here for different things
25:51We believe that that is not full at all
25:55The system which was designed to penalize and potentially disqualify drivers
25:59For accumulating too many points for traffic violations
26:02Had been a source of concern and frustration for many taxi drivers
26:06And the motorists
26:07Who relies on their license for their livelihood
26:10Taking away somebody's license
26:11Especially if you are a taxi driver
26:13Is putting pressure on that individual
26:15And as far as we are concerned it wasn't crime
26:18Because when you take away my license as a taxi driver
26:22You take away my job
26:23However, President of the Road and Safety NGO Arrival Live
26:27Sharon Inglefield disagrees
26:28And is appealing to Prime Minister Kamala Persad-Bissessa
26:31To not scrap the demerit points system
26:33But take into consideration the amount of people
26:35Of lives that were partially saved
26:37Due to the road and safety plans
26:39That there were in place
26:40Because of the points system
26:42Adding the points system
26:44Is not there to punish drivers
26:45But to educate them
26:47We really do hope
26:49That she takes into consideration
26:51The data
26:52Supporting the fact
26:53That we need
26:55To ensure the drivers
26:57Who are breaking the law
26:59I call them reckless drivers
27:01Who are breaking the law
27:02You know
27:04And who are making poor choices
27:08Understanding consequences of their actions
27:10Which is lives lost
27:12She said that the demerit points system
27:14Is not new
27:15As countries around the world
27:16Have adopted the system
27:18So this is a system
27:19That has been sanctioned
27:21By the World Health Organization
27:23By the United Nations
27:24And by first world countries
27:25Who have single figure fatalities
27:29Per annum
27:30Per capita
27:31So that in Trinidad and Tobago
27:33I think we were
27:34We have 13 fatalities
27:36Per capita
27:37And you know
27:39In those first world countries
27:40They're down to five
27:41Charlotte Kistel
27:43TV6 News
27:44Sport is up next
27:45Keep it here
27:46In sport
27:47The TNT women
27:48Suffered another defeat
27:49In the CWI Women's T20 Blaze competition
27:53When they were defeated
27:54By 36 runs
27:55By the Leeward Islands
27:56Here's a look back at the action
28:09Leewards took first strike
28:10And got off to an ideal start
28:12They scored a 63
28:13Before the loss of the first wicket
28:15Kiana Joseph
28:16And Shawneesha Hector
28:17Opening the innings
28:18Amrita Ramtahar cleaned up Hector
28:21For a well played forte
28:23Leewards slowed
28:24As Joseph went for 25
28:25With the score on 75
28:27Three runs later
28:29Devia Saxena was gone
28:31Shalini Samaru gets the wicket
28:34Samaru would remove Amanda Edwards as well
28:37As TNT looked to be sneaking back
28:39Into the match
28:40With the six overs remaining
28:42Desara Claxton 32 not out
28:44And Renice Boyce
28:45Who was the last wicket to fall
28:47For 14
28:49In short
28:50Leewards got a challenging total
28:51Of 133 for 5
28:53From their 20 overs
28:55In reply
28:56Trinidad and Tobago
28:57Got in trouble early
28:58They lost to two wickets
29:00To her backward point
29:02Rachel Vincent went for 5
29:03And Geneva Joseph without scoring
29:05Edwards taking both wickets
29:07She's out caught behind
29:09It made it difficult
29:10For Chanel Sau
29:11And Brittany Cooper
29:12To play aggressively
29:13They tried to build a partnership
29:15But it was she
29:16Short lived
29:18As the run rate slowed
29:19To a crawl
29:20Edwards takes her third wicket
29:22As Sau goes with the score
29:23On 31
29:24There was no real injection
29:26Of batting flair
29:27As TNT lost to wickets
29:29At frequent intervals
29:30Leanne Kirby
29:31Leanne Kirby top scored
29:32With 21
29:33But Leewards
29:34Kept her in check
29:35Anissa Mohammed
29:36Attempted a single
29:37But a good throw
29:38Sent her on her way
29:39Going down to go again
29:43Not enough bat
29:44Easy catch again
29:45Using the pitch
29:48Slow into the pitch
29:49From Hector
29:50Samara Ramnath
29:51Samara Ramnath
29:52Also attempted a second run
29:53With the match
29:54Already in the bag
29:55For Leewards
29:56She would be the last
29:57To fall for 13
29:58TNT stopped on 97
30:00For 8
30:01From their 20 overs
30:03Leewards
30:04Leewards
30:05Taking the 36 run win
30:06And advanced the second
30:07On the table
30:08Below leaders
30:09Guyana
30:10Sergio Defort
30:11TV6
30:12And that's a wrap
30:13On the past 7 days on 6
30:15I am Vanessa Cutting
30:17If you didn't catch this
30:18Segment in its entirety
30:19You can find it on our website
30:21www.tv6tnt.com
30:25And you can find all these stories
30:27And more on the TV6 mobile app
30:30Thanks for choosing TV6
30:31And do have a great evening
30:45To be continued
30:47To be continued
30:49To be continued
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