Councillor Petal-Ann Roberts, the Secretary of Finance, Trade and the Economy, delivered her inaugural budget presentation for the Fiscal Year 2025/2026. Under the strategic theme, “Accelerating Growth, Anchoring Fiscal Stability,” the proposed $3.71 billion financial blueprint sets an ambitious course for Tobago’s socioeconomic advancement.
During her presentation, Councillor Roberts not only outlined the fiscal allocations but also underscored the administration’s “steadfast dedication to good governance, transparency and public accountability.” A significant highlight she proudly noted was the successful effort in bringing the Tobago House of Assembly’s (THA) financial statements fully up to date for fiscal years 2018-2023 – “a feat not achieved in over two decades,” signaling a renewed commitment to fiscal integrity.
Comprehensive Expenditure: A $3.71 Billion Vision
Councillor Roberts detailed a total expenditure amounting to $3.71 Billion for Fiscal 2026. This extensive budget is strategically divided to address both immediate operational needs and long-term developmental goals.
- Overall Budget: $3.71 Billion
- Recurrent Expenditure: $2.71 Billion
- Personnel Expenditure: $787.3 Million
- Goods and Services: $809 Million
- Minor Equipment Purchases: $43.1 Million
- Current Transfers and Subsidies: $1,070.6 Million
- Development Program Expenditure: $1 Billion
- Pre-investment: $0.5 Million
- Productive Sectors: $1.5 Million
- Economic Infrastructure: $447.8 Million
- Social Infrastructure: $435.4 Million
- Multi-sectoral and Other Services: $114.8 Million
- Unemployment Relief Program (URP): $91.9 Million
- Community-Based Environmental Protection and Enhancement Programme (CEPEP): $43.4 Million
The Secretary affirmed that the budget is “predicated on a projected national budget of $63.5 Billion and a requested share of 5.9 per cent.” She emphasized Tobago’s long-standing call for “per capita expenditure equality, as a minimum revenue share to the THA, based primarily on the island’s population as a percentage share of the national population.” This translates to approximately “$5.90 out of every budgeted $100 in proposed national expenditure in Fiscal 2026.”
Strategic Capital Investments: Fueling Future Growth
The budget heavily prioritizes capital investments across several vital sectors, designed to be “a powerful driver of economic growth in Tobago.”
- Tourism and Creative Sector: A substantial $150.2 Million is earmarked to accelerate growth, with a target to “increase its contribution to GDP to 20% by 2030 from its current levels of 14%.”
- Agriculture Sector: An investment of $131.9 Million aims to boost food security and sovereignty, with a goal to “increase the sector’s contribution to GDP to 6% by 2030 from its current contribution of under 1%.”
- Public Infrastructure (Roads, Utilities, Housing, Coastal Protection): A significant $291.2 Million will go towards upgrading essential infrastructure, seen as critical for “facilitating commerce, attracting private investment, and improving the general quality of life.”
- Digital Technologies & AI Integration: With $37.4 Million allocated, the administration seeks to make the THA “a data-intelligent institution” and its workforce “data literate,” leveraging AI for efficiency and innovation.
- Human Capital Development, Education & Training: An investment of $159.9 Million targets a crucial increase in workforce education, aiming to “increase the percentage of the island’s workforce with post-secondary education to 30% by 2030 from its current level of 22%.”
- Micro, Small, and Medium Enterprises (MSME) Sector: Recognizing MSMEs as “a cogent accelerator of socioeconomic growth,” $93.5 Million is allocated to empower these businesses to “scale up, innovate, develop new products, and improve their goods and services.”
- Healthcare Services Delivery (Hospitals, Diagnostics, Primary Care): A massive $670.4 Million investment aims to improve healthcare, including physical expansion of hospitals and acquisition of “new and modern diagnostic machinery.” The goal is to “increase the healthy life expectancy of Tobagonians at birth to 70 years from its current level of 62 years.”
- Community Development, Youth Development, and Sport: $96.1 Million is dedicated to fostering “socially and economically sustainable and safe communities” and monetizing sports.
- Settlements, Public Utilities, and Rural Development (including affordable housing): Addressing housing needs, $134.2 Million is programmed for initiatives like subsidized housing and land affordability schemes.
- Fiscal Stability Initiatives: A focused $7 Million will fund strategic initiatives aimed at strengthening the THA’s financial management.
Revenue Projections and the Quest for Fiscal Autonomy:
The budget forecasts total revenue to be collected in Tobago at $225.5 Million. Councillor Roberts, however, clarified that “this is NOT an accurate and true picture of the revenues generated in Tobago because there are significant revenue streams generated in Tobago that are collected in Trinidad.”
- Total Tax Revenue: $223.53 Million
- Taxes on Income and Profits: $152.66 Million
- Taxes on Property: $0.4 Million
- Taxes on Goods and Services: $60.87 Million
- Taxes on International Trade: $2.6 Million
- Other Taxes: $7 Million
- Total Non-Tax Revenue: $1.98 Million
- Property Income Taxes: $0.04 Million
- Other Non-Tax Revenues: $1.94 Million
The Secretary also reiterated the “decades-old ongoing internal self-government project,” asserting that “fiscal stability for the Tobago Island government can only be anchored by the effective and meaningful completion” of this initiative. She highlighted continued discussions with the new Central Government regarding access to international loans, including a “US $100,000” approved by the IDB for the Tobago Development Fund preparatory work, and a “US $32 Million loan” for housing and urban revitalization that faced “deliberate administrative delays” previously. A “US $100 Million loan” from CAF for coastal protection is also being pursued.
