Monday, September 30, 2013

THA to Present a New budget on Oct 24

Tobago House of Assembly Chief Secretary Orville London says a new budget for the THA will be presented at the next sitting of the Assembly on October 24.

His statement yesterday followed what he previously said was a significant shortfall in the Assembly’s original budget by the central government. 

Finance Minister Larry Howai presented the national budget on September 9, allocating $2.477 billion for Tobago’s development needs, the THA said in a statement yesterday.

In his September 9 national budget Howai said an additional $831.2 million is to be spent under the various other Heads of Expenditure in Tobago while there is an allocation of a further $50 million to the Loan Guarantee Fund.  The THA said it had requested $4.3 billion.

Speaking during yesterday’s monthly THA plenary sitting in the Assembly Legislature, London said the Finance Minister allocated only 19 per cent of what was requested for development.

However, London said that Tobagonians will not be left behind. 
“Despite the shortfall, we will ensure that the vulnerable will be assisted, young people will be educated, projects will be initiated and completed, and the island’s development will be intensified in 2014.”

He said nothing will prevent the THA, and by extension the people of Tobago from moving forward.


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