Tobago development

A zoo, a paid parking system in Scarborough and a marina development are among 29 new projects targeted for pre-investment support in fiscal year 2015, according to Assemblyman Joel Jack, Finance and Enterprise Development Secretary, speaking at his 2015 Budget presentation at a sitting of the Assembly legislature on Monday. He stated that $25 million of his $5.68 billion budget will be used for the pre-investment support programme.

He has allocated $3.13 billion for recurrent expenditure and $2.55 billion for the development programme in fiscal 2015. The recurrent estimates represent an increase of $163.86 million over the fiscal 2014 request to the central government and $1.31 billion over the revised estimates for that year.

The $2.55 billion requested for the development programme is an increase of $638.87 million over the fiscal 2014 request and $1.91 billion over the revised 2014 estimates.

The budget is based on the theme “Keeping Faith with the People’s Mandate, Protecting Tobago’s Heritage”. He said the budget was prepared after extensive consultations with various interest groups, a budget survey and the Comprehensive Economic Development Plan for Tobago (CEDP 2.0).

Highlights of the proposed 2015 budget include:

• $20.1m support for the Information Technology Centre

• $5m funding for the establishment of a Public Private Partnership (PPP) unit

• $11.4m funding for the Trinidad and Tobago Hospitality and Tourism Institute (TTHTI)

• $330m continued support of the airlift committee

• $16.5m continued assistance to small properties in the tourism industry

• $8.8m assistance to sport tourism organisations

• $12.1 million to Tobago tourism festivals

• $50m continued support for the school feeding programme

• $3.5m for an expanded agricultural incentive programme

• $1.5m provision for subsidising fishermen

• $6.4m social assistance for vulnerable groups

• $463.1m for Tobago Regional Health Authority (TRHA)

• $54.1m provisions for CEPEP

• $4m continued assistance to cultural groups

• And continued support for adult education extension services (adult classes)

back to top