“We are determined to expand our capacity to serve and to capitalise on the socioeconomic advancements that lie ahead, ensuring that when re-elected, we will carry forward the momentum of progress in Trinidad and Tobago.” (Budget Statement 2025 Steadfast and Resolute: Forging Pathways to Prosperity, p 176).
This extract from the budget statement read in the House of Representatives last Monday confirms that this was a budget looking towards the next general election. Minister Imbert spent substantial amounts of time detailing at length the performance of the PNM administration over the last nine years.
Embedded in his statement was a significant eye on the future of PNM leadership and possible succession planning that is reportedly underway inside the PNM.
This statement was an unusual ode to targeted performance:
“Our economic success is the result of two factors. Firstly, our fiscal measures and incentives have stimulated the manufacturing and services sectors to the extent that $35 billion in annual revenue now comes from the non-oil sector, and secondly, the hard work and perseverance of the Prime Minister and the Minister of Energy and Minister in the Office of the Prime Minister has paid off, and even in the face of weak prices and reduced production, their negotiations with the multinational oil, gas, processing, and petrochemical companies have yielded billions of dollars in increased revenue on a permanent and sustainable basis, with much more to come from our cross-border projects. These two gentlemen must be given the credit that they deserve ...” (pp 173-174).
The significance of this statement is based on the fact that Stuart Young only became Minister of Energy on April 19, 2021, upon the death of Franklin Khan, who had served as Minister of Energy from October 31, 2016, until his death. Prior to Khan, the Energy Minister was Nicole Olivierre from September 11, 2015, to October 30, 2016.
The extolling of the virtues of Young alongside those of Rowley as the heroes of international energy negotiations that he says were beneficial to the country in the face of a challenging global energy situation is very significant. It is not only projecting a level of performance worthy of leadership of the country but also includes a powerful succession planning message in terms of the leadership of the party and the Government.
The other significant political aspect of the budget was the amount of time devoted to Tobago. The significance of the sister isle is central to the fortunes of the PNM in terms of the next general election. Of the five special projects announced in the budget, three of them are based in Tobago.
According to Minister Imbert:
“1. Divestment of Magdalena Hotel. The sale or lease of the Magdalena Hotel in Tobago.
2. New International Hotel Development. A request for proposals to develop a new 5-star internationally branded resort hotel on the Government-owned Buccoo Estate in Tobago. This project is expected to be on the scale of the previously proposed Sandals Hotel and if successful, will bring tremendous economic benefits to the people of Tobago.
3.Tobago Marina. A request for proposals to develop a yachting marina in Lowlands in Tobago, just southwest of the Petit Trou Lagoon, on lands currently being acquired by the Government from the Plantations Estate. This will be a private-public partnership and will involve the following features:
• ↓Docking facilities for at least 50 pleasure craft, both power and sail, up to 18 metres in length;
• ↓Storage facilities on land for a further 50 pleasure craft;
• ↓Refuelling, washing and repair facilities, marine and boat chandlers, stores, and a restaurant;
• ↓A slipway to transfer a trailered boat into the water;
• ↓A travel lift and forklifts for lifting boats out of the water and transporting them to the hard stand; and
• ↓A breakwater and dredged approach channel and basin …” (pp. 151-152).
These projects have the potential to bring many jobs to Tobago. The THA has already indicated that there has been no consultation on the five-star hotel project, so the potential for political conflict to emerge is present.
This was not your traditional election budget, but rather its election-oriented character was based on (i) promises for future sweetners from the projected Dragon Gas and other cross-border gas deals with Venezuela, (ii) the implementation of an increased minimum wage for public sector workers; (iii) the extensive accounting for nine years of performance and latter-day growth, (iv) the extensive discourse about Tobago and its allocations as well as projects, (v) the change from the negative narrative in the affidavit sworn by Minister Imbert for the Revenue Authority case that was recently decided by the Privy Council to his positive budget statement last Monday.
Elections soon?
Dr Hamid Ghany is Professor of Constitutional Affairs and Parliamentary Studies at the University of the West Indies (UWI). He was also appointed an honorary professor of the UWI upon his retirement in October 2021. He continues his research and publications and also does some teaching at the UWI.
