Budget Preparation Underway
The Tobago House of Assembly (THA) is preparing its budget proposal for the next fiscal year, which will be submitted to the Ministry of Finance by the end of this week.
“Divisions have prepared draft estimates for their recurrent expenditure and development programme, and they have been submitted to the Division of Finance and the Economy,” said Deputy Secretary and Secretary of the Division, Assemblyman Joel Jack.
Yesterday (July 28th), during the weekly post Executive Council media briefing, Jack stated that the Division has held budget consultations with various stakeholders across the island including NGOs and civic groups, the Tobago Division of the Trinidad and Tobago Chamber of Industry and Commerce, the Tobago Hotel and Tourism Association, members of tourism auxiliary services, the agricultural sector, and the trade union movement.
He indicated that the suggestions offered will help Tobago’s development.
“Your suggestions informed the draft estimates and the Assembly’s policy,” he said. “I was really excited, in our discussions, with some of the ideas coming to the fore.”
The Finance Secretary said finalization of the budget estimates submitted by Divisions and the recommendations from stakeholders are currently being collated. The proposal will inform the fiscal 2022 exercise for Tobago and the THA.
Every year, the Division of Finance and the Economy hosts budget consultations with stakeholders to give them an opportunity to contribute to the process, while providing representation