STUDENTS expressed deep concern about their future amid increasing economic pressures and rising crime rates at the Conference on the Economy (COTE) post-budget forum held on October 10 at UWI's St Augustine campus.
Panellists economists Marlene Attz and Dave Seerattan, former energy minister Kevin Ramnarine, Prof Roger Hosein and Dr Ricardo Lalloo collectively emphasised,
"The decisions made today will directly affect you and the nation’s trajectory, shaping important conversations about a path forward."
This statement heightened the anxiety of the audience, who raised concerns about the increasing crime, corruption and their detrimental impact on the economy.
Hosein, professor in the Department of Economics, said, “If you run a correlation between the low labour-force participation rate and the rising murders, you would see a strong correlation."
[caption id="attachment_1115037" align="alignnone" width="1024"] From left, Dr Ricardo Lalloo, Prof Roger Hosein, Kevin Ramnarine, Dr Daren Conrad, Dr Marlene Attzs and Dr Dave Seerattan spoke at the Conference on the Economy post-budget forum panel discussion on October 10. - Photo by Sydney Joseph[/caption]
Eager contributions from students underscored that such a decline in labour-force participation could lead to increased reliance on social services, exacerbating both violent and white-collar crime as people turn to criminal activities for survival or financial gain.
Addressing this challenge, a second-year economics student said the increasing number of migrants entering TT could help fill labour shortages, but such an integration of migrants into the formal economy might present significant challenges.
He said the influx of unskilled workers often fails to address the critical skill gaps necessary for sustainable economic growth.
In another discussion focused on migration, another student raised the issue of brain drain.
Students agreed many skilled citizens are opting to migrate, depleting the local talent pool. This loss of talent negatively affects national development, leaving positions unfilled and creating a workforce that lacks the skills needed for available jobs.
Economist Dave Seerattan said, “Positive externalities of emigration such as remittances and returning visitors during Carnival provide economic benefits, yet the negative impact of brain drain is significant and the country must create more opportunities to retain its youth.”
He added crime remains a major issue affecting not only the tourism sector but also business activities in general. High crime rates deter investors, raise the cost of doing business, and are a negative incentive for both tourists and investors. Despite significant budget allocations for national security across different administrations, crime remains a persistent problem.
The issue is not the lack of resources but rather the inefficiency in deploying them and the need for more effective crime-fighting strategies.
One after another, students voiced their concerns about safety, emphasising the
