Finance and the Economy
Assemblyman Joel Jack
Deputy Chief Secretary and Secretary of Finance and the Economy
Divisional Overview
The Division of Finance and the Economy of the Tobago House of Assembly is responsible for sourcing, collecting and disbursing funds for the THA and for promoting the development of the economy of Tobago by fostering the formation and growth of businesses, supporting entrepreneurial and cooperative activities, improving the financial literacy, and protecting and empowering consumers.
Vision
To achieve excellence in financial activities, entrepreneurial development and enforce the law with regards to revenue collection.
Mission
To manage and safeguard the finances of the Tobago House of Assembly and oversee the management of the economy of Tobago by effective planning, implementation, monitoring and enforcement, in accordance with existing legislation as well as the financial requirements of impending legislation on Internal Self-Government, Planning, and Procurement, for the benefit of the residents of Tobago.
Departments / Units
Economic Management and Research Unit (EMRU)
This Unit conducts Tobago specific economic and social research to develop and maintain economic and social statistical databases to facilitate evidenced-based policy decisions of the Tobago House of Assembly.
Investment and Public Private Partnership (IP3) Unit
This Unit fosters a more integrated approach to capital planning that addresses identified physical, economic, social and environmental gaps and supports evidence-based policy making and comprehensive investment planning by providing an avenue for the Assembly to become sufficiently equipped to undertake the task of strategic programming and prioritizing, enabling others to make better decisions and ultimately ensuring better value for money.
Financial Literacy Secretariat (FLS)
This Unit’s mandate is to improve the level of financial literacy in Tobago by providing timely, accessible and high quality financial education programmes and initiatives to the residents of Tobago.
Youth Enegised for Success (YES)
This Unit’s mandate is to coordinate and deliver high quality financial education to harness and develop the potential of young Tobagonians for the future development and diversification of the island’s economy.
Strategic Business Development Unit
This Unit’s mandate is to facilitate the growth and expansion of the Tobago private sector with a primary focus on trade and investment.
Consumer Affairs Unit
This Unit’s mandate is to protect the interests of the Tobago consumers while maintaining a fair and competitive marketplace.
Co-operative Development Unit
This Unit’s mandate is to cultivate and foster the orderly growth and development of the Co-operative Sector in Tobago, guided by the Co-operative Societies Act and international Co-operative principles and best practices.
Emergency, Social and Medical Assistance Unit (ESMAU)
This Unit’s mandate is to contribute to the elimination of domestic violence and abuse of children by providing avenues of relief, providing support systems for persons with disabilities and others requiring special services through the Emergency Assistance Card Programme and the Emergency Medical Alert Programme.
Budgets
This Unit’s mandate is to ensure that funding appropriated by Parliament, as well as revenue collected by the Tobago House of Assembly, are released to the Divisions of the Assembly in a timely manner.
Final Accounts (Consolidation)
This Unit’s mandate is to receive, record and report on the revenue collected by the Tobago House of Assembly; to manage loans to public officers, Assemblymen and Contracted Officers as well as the annual board of survey and the disposal of unserviceable articles as well provide information for the preparation of the THA Financial Statements.
Administrative Support Services
Administrative Support Services is an amalgamation of Units that provide support to the core Departments of the Division. This comprises the Accounting, Facilities Management, Communications and Information Technology Units.
Customs and Excise Division
The Customs and Excise Division protects and collects all revenue owing to the state, to facilitate trade, and to combat illegal importations and exportations.
Board Of Inland Revenue (BIR)
The Board of Inland Revenue and the District Revenue Services are responsible for the management, administration and collection of revenue and taxes, and other rates and fees on behalf of the Government of the Republic of Trinidad and Tobago.
Eco Industrial Development Company of Tobago (E-IDCOT)
E-IDCOT’s mandate is to support the diversification of the Tobago economy by providing opportunities to allow persons to develop and expand business in Tobago. To provide project management services to support the timely execution of development projects by the THA.
Venture Capital Equity Fund Limited (VCEFL)
VCEFL’s mandate is to diversify the Tobago economy and re-ignite entrepreneurship in Tobago.
Milford Road Esplanade
The operational mandate of the Milford Road Esplanade is to promote a healthy and safe environment for a hub of socio-economic activities for the people of Tobago.
