EACH YEAR, business chambers and other lobby groups present the Ministry of Finance with their wishlists for the national budget.
They usually include unanimous calls for infrastructural development, tax reforms and other costly undertakings, funded primarily from national oil and gas revenues.
Ahead of the September 30 2025 budget presentation, almost all groups have lobbied for the government to invest in skills training, digital transformation and incentives for small businesses to help diversify the economy, especially with energy revenues declining drastically.
The chambers have requested significant national security boosts to improve the quality of life in TT and to attract foreign and even local investors.
Economist Marlene Attz, speaking at the TT Coalition of Services Industries’ (TTCSI) pre-budget discussion at the Little Carib Theatre, Woodbrook, on September 18, said by the Minister of Finance’s admission, the country is in for troubling times.
[caption id="attachment_1109746" align="aligncenter" width="499"] UWI economist Dr Marlene Attz.- File Photo[/caption]
“Because of the challenges and the low economic growth, we’re going to realise as a result of the contractions in the energy sector, something has to compensate," said Attz.
“We now have one of the largest budgets (following the mid-year review) and a $9 billion deficit, meaning the government spent $9 billion more than they actually earned…If there’s a decline in the energy sector, something else has to fill that gap, which is why it’s important to us to organise spaces like the services sector.
“This is serious business.”
The TTCSI, the leading association of service providers in TT, was one of several groups to share their recommendations with the Finance Ministry in recent days and weeks.
TTCSI president Dianne Joseph shared the TTCSI’s budget wishlist.
She noted the significant role the services sector – a major contributor to the gross domestic product – can have as a foreign-exchange earner.
ESTABLISH DEDICATED SERVICES TASK FORCE
Joseph announced that the TTCSI has asked the government to establish a dedicated services task force.
“This task force will be instrumental in developing industry standards, implementing certification programmes, and advising the government on regulation and accreditation processes related to the services sector.
“We also acknowledge the significant role the services sector can play in national economic diversification through its expert potential,” Joseph said, leading to the TTCSI’s second request: an export booster programme, specifically for services, as well as creating centres of excellence for innovation.
Joseph said these initiatives would provide targeted support for service providers aiming to expand into international markets, “while fostering innovation and entrepreneurship.
“As the only and duly recognised legitimate umbrella organisation representing and uniting all service-sector associations in TT, the TTCSI sees itself as the central hub for advocating the se
