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CCNTV6
  • 6 months ago
Chief Technical Advisor to the Division of Finance, Anslem Richards, is calling for a more equitable share of the national budget for Tobago.

He tells Tv6 that while the island's population has steadily increased over the years, its budgetary allocation has remained stagnant, failing to reflect the growing needs of its people.

More from Tv6's Nicole M Romany.
Transcript
00:00So we are looking at a percentage share, which is the Tobago population share of the national population.
00:06And at this point, the population share is 5.1%.
00:10And whatever the total of the national budget is, Tobago is requesting its per capita share of 5.1%.
00:17If it's $30, give us our 5.1% of $30. That's all we are requesting.
00:22Richards also points out that the THC is still indebted to several contractors,
00:27noting that payments are contingent on the Assembly's cash flow.
00:32He adds that the situation has been further strained by a sharp cut to the THC's development budget,
00:39which was slashed from $400 million in 2023 to just $205 million in 2025.
00:48He says this significant reduction has severely hampered the Assembly's ability
00:53to meet its financial obligations and drive meaningful development on the island.
00:59And it is retarding not only the development program,
01:02but the economic life of the entire island is being impacted.
01:07Because remember, infrastructure development and shovel-ready projects are economic activity
01:12that spurs on commercial activities and therefore create the circular flow in the economy,
01:17create jobs, spending and that sort of thing.
01:20And we don't have the resources to do those types of development programs
01:24to boost the economy and boost commercial activity on the island.
01:28Even in the tourism sector, we require significant investment in our tourism infrastructure.
01:33Richards believes that with proper sustained investment from the central government,
01:38Tobago has the potential to become a magnet for foreign investment.
01:42He maintains that the island's natural assets, strategic location and untapped economic potential
01:50make it an ideal candidate for international partnerships if only the necessary support is provided.
01:57If the national government does not see the need to develop what I call probably a five-year
02:04development investment program for the Tobago economy,
02:08which is really the foundation of the diversification of the national economy,
02:13then we'll have a challenge as a nation going forward.
02:15And when I say a challenge, an economic challenge,
02:17because definitely the national economy needs to be diversified.
02:21Nicole M. Romany, TV6 News.
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