The UNC's first financial statement in office, according to one Government Minister lays out more than numbers — it signals the Government's priorities, promising growth without new burdens on citizens.
00:00It's the first major fiscal statement of the UNC administration setting the tone for the government's fiscal framework for the year ahead.
00:09It is a declaration of purpose to restore confidence, rebuild the economy and renew hope across every community of our beloved nation.
00:18Madam Vice President, the 2026 appropriation bill is presented to this Honourable House at a critical juncture in our country's history.
00:26At a time when people of our great islands, through their democratic right, call for an administration committed to transparency, compassion and effective governance, this administration has answered that call.
00:43And according to Minister in the Ministry of Finance, Kennedy Suarez, saying they did so without enacting hardship on citizens, instead championing fairness and inclusivity in economic policy.
00:55Demonstrating gender responsive budget have allowed us to integrate and to put forward $5 million for a women's health fund to address period poverty by providing free menstrual products in schools and funding menstrual health education.
01:15This is a humane step that encourages economic growth by reducing missed school and work days, enabling full participation.
01:25He described the national insurance reforms as caring, courageous, long overdue and desperately needed.
01:34The reforms include a phase 6% increase in contribution over two years, 3% in January 2026 and 3% in January 2027.
01:45And a gradual increase in the full retirement age, beginning from 2028 all the way up to 2036.
01:56And these measures aim to protect the fund long-term stability and ensure contributors' benefits are safeguarded.
02:06Swartzing said the government is shifting from being the primary operator of the economy to a modern facilitator of growth, pointing to initiatives like the reopening of the Trinidad and Tobago Hospitality Institute.
02:19It is a real travesty when I visited Chagaramus upon assuming that the hotel school not only has been closed but was mothballed for the last seven or eight years.
02:40That hotel school used to produce roughly about 700 graduates every year.
02:47He also noted that Trinidad and Tobago's international partnerships are being strengthened.
02:53Madam Vice President, I am very pleased to support our government's continued rollout as we seek to establish the Office of the World Bank here in Port of Spain.
03:06The MOU and the Establishment Agreement currently being vetted by the Office of the Attorney General.
03:10Later on this month, members of the World Bank team will be down here to formalize and engage in active conversation to get that agreement completed.
03:24Kennedy Swartzing piloted the appropriation bill in the Senate today.
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