Balancing the Scale

This article is to engage the issues of falling national revenues due to price declines for fossil fuels, the ongoing commentary and the PM’s 8 January 2015 statement with its attendant criticisms. I am going to focus on the role of the real estate and construction sectors in this unfolding series of serious challenges.

This is the graph and table from my previous budget commentary ‘A Fistful of Dollars‘ to illustrate the trend in terms of how successive governments have attempted to balance revenues and expenditure.

T&T Budget overview 2005-2015
 

Year 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Revenue $24,016 $34,129 $35,126 $40,381 $49,465 $36,664 $41,284 $47,000 $50,736 $55,041 $60,351
Expenditure $27,918 $34,119 $38,054 $42,261 $44,206 $36,915 $49,016 $54,600 $58,405 $61,398 $64,664
Surplus/Deficit -$3,902 $10 -$2,928 -$1,880 $5,259 -$252 -$7,732 -$7,600 -$7,669 -$6,357 -$4,313

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