Trinidad and Tobago PM defends 2027 budget and divestment plans

Trinidad and Tobago Prime Minister Kamla Persad-Bissessar has defended the 2027 national budget, describing it as a means to deliver on government promises. Key measures include a $250 increase in social grants aimed at supporting vulnerable citizens, such as pensioners and persons with disabilities, alongside provisions to improve worker welfare and attract foreign direct investment to stimulate job creation.

Addressing the management of state assets, the Prime Minister announced plans to divest loss-making state enterprises. She specifically cited Lake Asphalt, alleging the company has moved from TT$279.34 million in cash reserves in 2015 to being effectively bankrupt in 2025. Persad-Bissessar argued that taxpayer funds should be used to improve citizens' lives rather than providing welfare to failing state-run businesses.

Additionally, the budget includes measures that will result in new taxes for high energy consumers.