00:00Yes, revenue locally, but when you export, you could help bring some forex. We all need forex.
00:06The license is expected to result in increased activity and therefore additional output from the quarry.
00:13There's a direct household benefit that comes from the current employment, particularly residents of Tobago,
00:20and this benefit will increase based on new jobs anticipated as activities ramp up over the period of the license.
00:28Prime Minister Kamala Passat-Bissasa, speaking at Studley Park, said there will be economic benefits for Tobago, inclusive of 147
00:39direct jobs.
00:40The grant of mining and processing license can provide greater regulatory certainty for Studley Park to plan production, pursue domestic
00:50and export orders, enter into supply contracts.
00:53Secured orders will in turn support investment, employment and revenue generation, while, as I said before, export sales will earn
01:03you foreign exchange and help to diversify the income sources of Tobago.
01:08Chief Secretary Fali Augustin, inhaling the moment as historic for Tobago, said taxes and revenues earned from the Studley Park
01:17Enterprise Limited would remain in Tobago.
01:20It's the issue of where should the royalties for Studley Park go and how should we manage that in accordance
01:27with the law.
01:28And when I looked at the note, the note recognized Act 40 of 1996, which essentially says that all taxes,
01:36taxes and levies and government, collection of government funds in Tobago,
01:43ought to be done by the Tobago House of Assembly and collected by the Tobago House of Assembly.
01:49That's what the law actually says.
01:50That cabinet note recognizes such.
01:53Elizabeth Williams, TV6 News.
