Vox Pop: Citizens react to Budget 2018
Finance Minister Colm Imbert presented the National Budget for 2018 on Monday, announcing a number of measures to be implemented in next year's fiscal package that are aimed at closing the gap on the $4.76 billion budget deficit.
Measures such as the immediate increase in diesel and super prices; a rate assessment exercise for water and electricity rates; a proposed increase of penalty for offence under the Private Hospitals Act from $10,000 to $100,000; and an increase in the Corporation Tax from 25 percent to 30 percent and grants of up to $100,000 for farmers are just some of the major highlights coming out of the presentation.
A number of stakeholders, including the Chaguanas Chamber, the Couva/Pt. Lisas Chamber, Bankers Association of Trinidad and Tobago (BATT), and the Manufacturing Association have all weighed on the Budget.
Loop spoke to the man on the street to get their immediate reactions to the budget. Responses were mixed, with some people seeing it as a budget of further taxation and strain on their pockets. Others were resigned to take things as they come, with a few accepting that certain measures had to be taken to help stabilize the economy.
What are your thoughts on the budget?