Last update: 06-Dec-2013 9:53 pm
Saturday, December 07, 2013
Trinidad & Tobago Guardian Online
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Business leaders: Account for billions spent
Different sectors across the country have called for greater accountability and greater value on how the nation’s public funds are spent following Monday’s budget presentation by Finance Minister Larry Howai.
This year’s budget, the People’s Partnership’s fourth, of $61.4 billion is the largest in the country’s history.
Gervase Warner, president and group chief executive officer, Neal and Massy Holdings Ltd, spoke about government spending over the last few years.
“There has been a tsunami of expenditure that has been unleashed upon the country last 14 years. While the revenue has been increasing, expenditure has been moving a little faster than that and it could be a worrisome sign. In 2005 to 2006, there was a lot of construction and the Special Purpose State Enterprises came into existence and were created to bypass the bottlenecks. We increased expenditure to bring these things to life despite the economic crisis in 2008, we kept that level of expenditure,” he said.
Warner spoke at a T&T Chamber of Commerce post-budget forum on Tuesday at the Capital Plaza Hotel, Wrightson Road, Port-of-Spain.
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