Government Sets October 12 Date for Davendranath Tancoo’s 2027 Budget Presentation

Prime Minister Kamla Persad-Bissessar praised the 2027 budget as delivering on Government promises, highlighting a $250 increase in social grants, support for workers and efforts to attract foreign investment and jobs. She also reaffirmed plans to reopen the closed Guaracara refinery, saying its shutdown hurt communities in southern Trinidad and that a phased revival is under consideration.

Tobago’s Chamber chairman Curtis Williams said the island expected more than the $2.756 billion allocated to the THA for Fiscal 2027, noting the $200 million cut may force tighter spending and fewer projects. He said Tobago should focus on tourism, food and agriculture, roads, coastal erosion and water supply, especially as the island faces drought and worsening shoreline damage.

Patriotic Front leader Mickela Panday criticised Finance Minister Davendranath Tancoo’s 2025 budget presentation, saying it relied on rhetoric and repeated promises rather than clear evidence of delivery. She questioned the Government’s spending plans, job-creation claims, and refinery restart proposal, and urged a stronger focus on food security, local enterprise and real opportunities for young people.

Prime Minister Kamla Persad-Bissessar said Tobago receives far more central government support than its THA budget shows, pointing to a $300 million loan refinancing, security posts, health care and social grants funded directly by taxpayers. She said the new East Terminal at ANR Robinson International Airport should boost tourism, jobs and investment across Tobago.

TTMA president Emil Ramkissoon said VAT refunds must be paid on time because the money belongs to manufacturers and helps fund reinvestment, expansion and export growth. He welcomed the budget’s modernised VAT system, a 25% excise tax cut on alcohol and steps against illicit trade, while urging similar relief for tobacco and stronger support for doing business and exports.

Trinidad and Tobago’s private sector broadly welcomed Budget 2027, but business leaders said its success will depend on how quickly government delivers results on issues like foreign exchange shortages, high costs and public service delays. Chambers also backed planned projects such as the refinery, San Fernando waterfront and Chaguanas Ring Road, saying they could boost growth, jobs and investor confidence if properly implemented.

Trade union leaders are pressing ahead with an October 30 march, saying budget promises on back pay do not resolve disputes over displaced workers, unpaid wage claims and long-delayed collective agreements. Michael Annisette, Timothy Bailey and other union leaders also raised concerns about crime, youth opportunities, TSTT bargaining and the restart of Trinidad and Tobago’s steel industry.

The TTMA is focusing on sustaining non-energy manufacturing growth after the sector expanded 11.6% in the first half of 2026, following a post-budget discussion with stakeholders. The association welcomed measures like mandatory e-filing, a tax systems upgrade, stronger tax-customs data sharing and a 25% excise tax cut on alcoholic beverages, while urging more government dialogue and effective implementation to support diversification.

Finance Minister Davendranath Tancoo defended Tobago’s TT$3.473 billion budget allocation, saying the island is set for growth in tourism, agriculture, construction and energy, and that talks with the THA will continue. Prime Minister Kamla Persad-Bissessar also said Central Government spending on infrastructure, security, healthcare and tourism adds to Tobago’s development.

Finance Minister Davendranath Tancoo said Trinidad and Tobago has stabilised its economy and is now focused on cutting the fiscal deficit while maintaining spending on health, education and public sector pay. He said the 2027 Budget projects a $3.64 billion deficit, which he described as workable, and expects energy-sector gains and job creation to improve finances. He also said reopening the Pointe-a-Pierre refinery remains a priority and is being reviewed through a transparent process.

Finance Minister Davendranath Tancoo says the 2027 Budget prioritises diversifying Trinidad and Tobago’s economy by boosting tourism, agriculture, manufacturing and exports. He said the Government has set aside $2.4 billion for workers and projects a $3.64 billion deficit, which he called manageable, expecting energy revenues to help reduce it.

The Couva Point Lisas Chamber of Commerce says mandatory income tax filing could bring in millions more for the Government by drawing more individuals and small businesses into the tax system. The chamber also backed efforts to boost natural gas supplies and welcomed changes to foreign exchange access through Exim Bank, saying both could support business activity and jobs.

Finance Minister Davendranath Tancoo unveiled 2027 budget measures to raise nearly $1 billion more from businesses, petroleum companies and tax enforcement as Trinidad and Tobago aims to cut its fiscal deficit. From January 1, 2027, luxury imported alcohol, classic vehicles and households using more than 3,000 kWh of electricity a billing period will face higher charges. The government also plans to tighten tax loopholes, expand VAT to foreign digital services and impose tougher penalties on non-compliant taxpayers.

Finance Minister Davendranath Tancoo presented TT’s 2027 $63.368 billion budget, promising more support for vulnerable households through $250 monthly grant increases, higher tax relief for pensioners and new training, internship and investment programmes for young people. To fund it, the government will raise revenue through new taxes on big electricity users, imported luxury goods and other high-value spenders, while tightening tax enforcement. Education, health and national security got the largest allocations, and Tobago will receive $3.473 billion.

Finance Minister Davendranath Tancoo said the 2027 budget will boost crime-fighting with more surveillance technology, stronger border security and 280 auxiliary fire officers, while National Security gets $7.321 billion, its highest allocation in five years. He said serious crimes and murders were down this year and the Government will expand maritime, digital and passport-security systems.

Tobago Chief Secretary Farley Augustine said the island’s $2.7 billion fiscal 2027 allocation is disappointing because it falls below last year’s $2.9 billion and reduces Tobago’s share of the national budget to 4.35%. He said the THA will keep lobbying for fairer funding, especially for capital development, while also pursuing private investment and constitutional autonomy.

Finance Minister Davendranath Tancoo has बजed $4.087 billion for public utilities in 2027, with plans to improve water supply, expand electricity access and advance desalination plants in Mayaro, Morne Diablo and Tobago. He also announced a new surcharge on residential customers using more than 3,000 kilowatts a month, aimed at helping fund electricity subsidies for lower-use households.

Home­land Se­cu­ri­ty Min­is­ter Roger Alexan­der hailed the 2027 Budget as people-centred after Finance Minister Davendranath Tancoo set aside $7.321 billion for national security, including the TTPS, Defence Ministry and Homeland Security Ministry. The plan includes 700 new police officers, upgraded stations and more surveillance technology to improve crime fighting and border security, while prison officers said they are still waiting for details.

Former energy minister Stuart Young accused the Government and NGC leadership of mishandling gas negotiations, saying Trinidad and Tobago’s energy sector is collapsing as Nutriens’ ammonia plant, Methanex and Proman face shutdowns and job losses. He warned the closures threaten workers, foreign exchange and the wider economy, while calling the 2027 budget promises unreliable.