Trinidad and Tobago Budget 2013-2014
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Transcript of Trinidad and Tobago Budget 2013-2014
HIGHLIGHTS OF THE BUDGET STATEMENT 2014PRESENTED BY: MINISTER OF FINANCE AND THE ECONOMY, SEN. THE HON. LARRY HOWAI
Monday 9th September, 2013
BIG TICKET ITEMS — % of Budget $61.398 Billion
SOME ALLOCATIONS
• Inflation down to 5.6 %• Unemployment down to 5 %
• Direct investment up to US$2.5 B • Heritage and Stabilization Fund US$5 B
• Oil revenue: $23.3 B• Non-oil revenue: $32.6 B= Total revenue: $55 B
• Expenditure: $61.3 B• DEFICIT reduction: from $7.669B to $6.357B• DEFICIT reduction, as % of GDP: from 4.6% to 3.6%
EducationNational Security
Health HousingWorks
The direct effect
Health card — as a means to access, monitor and improve health services.
Construction of an overpass at Kay Donna and a by-pass at Valencia.
Electronic Health Cards
Customs Duty up by 25% from October 1, 2013 on new and foreign- used cars over 2,499 CC (excluding T-vehicles and maxi-taxis).
Increased Car Duty
Highway Construction
HEALTH
T&TCARD
24%16% 13% 7%
6%
Education and Training:$9.820 billion
National Security: $6.497 billion
Health: $5.096 billion
Housing: $2.708 billion
Local Government: $2.448 billion
Works and Infrastructure: $2.431 billion
Public Utilities: $3.786 billion
Transport: $2.324 billion
Agriculture: $1.324 billion
Tobago: $3.309 billion
National Oncology Centre
Jet Blue flights from US to Trinidad, and Apollo Airlines flights from Europe to Tobago.
New Airlines coming
Motor Accident Fund to be established, using 6% tax on Car Insurance Premiums to compensate victims of uninsured drivers.
Accident Fund
$500, 000 fine for illegal fuel bunkering and quarrying.
Increased fines
100% Tax Allowance up to $40,000 for CNG conversion from January 2014.
CNG Conversion
100% increase in fines for littering:
from $2,000 to $4,000
Litter fine hiked
The Government of the Republic of Trinidad and Tobago
Construction of the new OncologyCentre begins September 2013.