Wakanda News Details

PM warns of threats to national revenues - Trinidad and Tobago Newsday

THE Prime Minister has said the population can expect to hear him speaking extensively about TT's revenues in the coming days and weeks.

He said, "While we have problems here and there, the Government – unlike our opponents in the Opposition – we can't be focusing on one issue all the time. We have to focus on a number of issues all the time."

At a PNM public meeting at Tropical Angel Harps panyard, Enterprise, Chaguanas on Thursday night, Rowley reminded PNM supporters he has spoken to them regulary about the country's revenues.

"I am going to stay on that subject for a while...because it doesn't matter what else is happening, if we lose sight of our revenue challenges, we could get into difficulties that we cannot get out of."

Rowley reminded his audience that while Trinidad andTobago was once a major supplier of liquefied natural gas (LNG) to the US, that situation has changed.

"You know what the situation is now?

"The US is now a major exporter of LNG. In the last four years, even as we are struggling to keep gas in our plants at the level which is significantly down, the US has increased its exports of LNG fourfold."

Rowley said this means "the market for energy is very soft and likely to remain very soft for quite some time."

With March signalling the end of winter in the US, he continued, this meant a reduction in the demand for LNG.

"Therefore there is nothing to push the price up, unless there is some humongous problem somewhere in the world."

He added that the ongoing war in Ukraine is not making global oil prices rise higher than US$80 per barrel at present, and hinted that they could drop.

"While we are getting our sustenance in those markets, we are not sufficiently large to influence those prices in the market. We have to take whatever price the market produces."

He said, "That is why we have to be careful with our revenue stream."

Rowley said he found it interesting that many of the people complaining the loudest are the ones benefiting the most from the country's economic circumstances.

"In our society, there are a lot of people who are doing very well because the country has given them great opportunity and they are required to pay some taxes."

But, he said, they refuse to do so and do their part in carrying the national economic burden.

"If they don't want the gas from Dragon (field in Venezuela), they don't want the TTRA (TT Revenue Authority) to collect taxes, they don't want property tax – what do they want you to do? Tell me."

Rowley claimed the UNC wants a situation where public servants cannot be paid their salaries.

"They want public servants marching in the street, to be able to say, 'The government is the reason,' and, 'Elect we.'"

He claimed the UNC is afraid to talk about anything else besides crime because it knows it has nothing useful to offer the population.

"We will discuss everything, because we are responsible for everythin,g and we can explain everything that we are responsible for."

Rowley told PNM supporters the UNC has a penchant fo

You may also like

More from Home - Trinidad and Tobago Newsday

Facts About Women

Lifestyle Facts

National Trust for Historic Preservation