Economy

Opposition Senator Dominic Smith Questions Spending Patterns Amidst Central Bank Policy Change

Temporary opposition senator & economist Dominic Smith accuses government of overspending while relying on taxes to generate revenue.

August 6, 2024 – Temporary Opposition Senator and Economist Dominic Smith is questioning the government’s spending patterns in light of the Central Bank’s recent decision to reduce its minimum reserve ratio. Speaking at the Opposition’s weekly press conference on Sunday (August 4, 2024), Smith stated that citizens continue to be burdened by high inflation and cumbersome bureaucracy, even as the government increases taxes.

Smith’s comments highlight a critical concern regarding the government’s fiscal management and its impact on the daily lives of citizens in Trinidad and Tobago, particularly amidst recent monetary policy adjustments by the Central Bank.