The Tobago House Assembly (THA) is committed to adjusting its expenditure due to the expected impact of falling oil prices but will continue its focus on community-based projects, Chief Secretary Orville London said at a post Executive Council media briefing.He said central government has not indicated whether it will decrease the island's 2014-2015 budgetary allotment of $3.7 billion. Government has been revisiting the national budget since oil prices began to fall last year.
The THA held a retreat on January 16 to discuss Tobago's economic plans in the wake of T&T's economic challenges.London said representatives had "analysed the situation" for each division, electoral district and community to determine their "priority deliverables." The recurrent theme during discussions, he sad, was prudent management.
"We decided that what we needed to do is determine our priorities–these are things that must be done regardless of the situation. We've got to minimise social distress, we've got to tighten measures that will ensure more value for money and continuing that process, sensitise all sectors to their responsibility during the period."
London said the THA will complete ongoing projects and focus on projects that facilitate meaningful employment and stimulate the economy. It also will continue to pursue public-private-partnerships in housing development.
"We are in a very fortunate positon in that most of our major projects have in fact been completed over the last five years or so. We have the hospital and over 20 health centres. Within a month's time the cultural complex will be delivered. There have been a number of community centres and Y-zones delivered over the years."Some projects, such as the Shirvan Road Roundabout, expansion of Store Bay Local Road and the new Scarborough Market, will be temporarily shelved.
London asked Tobagonians to play their part in understanding "the importance of giving a fair day's work for a fair day's pay."