Budget 2010 - EntornoInteligente
Entornointeligente.com /

Leg­is­la­tion is be­ing pre­sent­ed to Par­lia­ment on Fri­day to fa­cil­i­tate an in­crease in the to­tal val­ue of tax-free sav­ings bond for the pur­chase of HDC hous­es —to $3 bil­lion—which will be part of the up­com­ing 2020 Bud­get.

Gov­ern­ment of­fi­cials con­firmed the bond pro­pos­al will be part of the bud­get which will be pre­sent­ed by Fi­nance Min­is­ter Colm Im­bert on Oc­to­ber 7. To fa­cil­i­tate this, Par­lia­ment will de­bate the Gov­ern­ment sav­ings bond (Amend­ment) 2019 Bill on Fri­day.

The five clause bill seeks to amend the Gov­ern­ment Sav­ings Bonds Act, Chap. 71:41 to pro­vide for tax-free Gov­ern­ment Bonds to be is­sued in re­spect of the pur­chase of Hous­ing De­vel­op­ment Cor­po­ra­tion hous­es and to in­crease the to­tal val­ue of bonds is­sued un­der the act.

It’s pro­posed to in­crease the to­tal val­ue of bonds that can be is­sued un­der the act from $2 bil­lion to $3 bil­lion.

UNC whip David Lee said yes­ter­day that UNC’s Bud­get con­sul­ta­tions with na­tion­wide con­stituen­cies—which start­ed a sev­er­al months ago— raised four main points of con­cern.

“Con­sen­sus is that peo­ple are con­cerned about crime, high cost of liv­ing, work­ers be­ing laid off and feel­ing hope­less—we are wait­ing to see how the bud­get ad­dress­es this,” Lee added.

The Op­po­si­tion be­lieves the Gov­ern­ment will present an “elec­tion” bud­get be­cause of the up­com­ing Lo­cal Gov­ern­ment polls—due af­ter No­vem­ber—and a gen­er­al elec­tion due next year.

T&T Cham­ber CEO Gabriel Faria said the Cham­ber, which met last week on Bud­get 2020, is hop­ing to see a num­ber of in­no­va­tions to im­prove the busi­ness cli­mate in­clud­ing ad­dress­ing the is­sue of over­due VAT re­funds— es­ti­mat­ed at $6 bil­lion—mo­bil­is­ing cap­i­tal to fund small/medi­um busi­ness­es and young en­tre­pre­neurs, im­prov­ing ease of do­ing busi­ness through tech­nol­o­gy and de­vel­op­ing a long term strate­gic plan for To­ba­go tourism.

LINK ORIGINAL: The Trinidad Guardian


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