People ‘An Economic Driver’

The debate has started, with a free top of the line, world class, Human Development system available to all citizens, straight out of the womb, should locally trained but foreign employed persons contribute, voluntarily or by some other enforcement mechanism, back to the Human Development system to maintain standards for future generations. The objective is not to stop the brain drain but to build national pride; it is not to deter immigration but to tangibly show gratitude. The previous generations built this Human Development system that supported the success presently enjoyed and it needs returns on the investment to fund its future successes.

A level playing field

Getting the politics out of financing crucial nation building issues requires strong, enforceable and actionable procurement legislation. Under the threat of fines and forfeitures and lengthy jail terms, Politicians and public sector employees must play no role in the award of commonly called Government Contracts. All private sector operations depend on the rule of Laws and enforceable Regulations to create success for their very survival. The public sector employees are placed in a difficult situation, a moral dilemma, witnessing politically driven abuses and being offered financial inducements, far in excess of their salaries, to turn a blind eye or, in many cases, actively participate.

Borrowing for Economy Growth

Appreciably, the Executive arm of Government, the Cabinet led by the Prime Minister, has many expert voices at its disposal, economists and financial analysts that will demand that all public borrowings be directly linked to growth in the economy, traditionally measured by Gross Domestic Product. GDP is the monetary value of all the finished goods and services produced within the country's borders in a specific time period, estimates are commonly used to determine the economic performance and standard of living of the whole country and to make international comparisons. The question therefore is “How would any proposed borrowings affect GDP?”

Public Money

Apathetically, we the people are born owing money; live naively contributing to the ever increasing unpaid bills and will die leaving the next generation in more debt. Totally unaware, and in most cases, indifferent to the state of our economy, as we selfishly divide along political party lines or even worse, individually, failing to acknowledge responsibility for or of the out of control debt. The people must now unite or with be forced to come together later, by international lending agencies, when we cannot pay our current bills. Neither Politicians nor Individual Greed can build a prosperous future.

Capital Revenue

Serendipitously, the 2009 CLICO bailout or investment brought substantial capital revenue to the Republic of Trinidad & Tobago, in 2013, 4 years after. And in 2014, as oil and gas prices decline, CLICO along with the listing of First Citizens’ shares on the local stock exchange grew these extraordinary revenue items by over 200% from the previous year. The listing of NGL and the sale of key property assets formed part of the revised estimates in Apr 2015, budgeted at over 300% from 2014 actual figures. This trend was continued in the 2015-2016 budget projecting $7,300,000,000 in revenue a further 50% increase from the 2015 revised estimates.