The Budget: Trinidad and Tobago

Whilst many have been focused on the Westminster budget this week, IER's Dr Jamelia Harris provided expert analysis on Trinidad and Tobago's.

Jamelia was part of a panel of experts which analysed the Trinidad and Tobago national budget immediately after its reading on 12 October. Since securing independence in 1962, the Trinidad and Tobago economy has been dependent on the energy sector, but has seen falling energy outputs in the past decade. Earlier this year the country entered a recession with significant job losses.

Against this backdrop the budget aimed to offer short-term support and promote private engagement in large infrastructure projects. However, there is an absence of long-term planning, no plans for economic diversification and no credible measures to reduce the budget deficit and contain rising public debt. As well as expert opinion on the budget itself, Dr Harris offered analysis on broad-based economic development, the need to boost labour force participation and create meaningful jobs, and transform systems of collective bargaining for public sector workers.

The full recording is available on YouTube.