economy

500 workers could be cut

More than 500 workers from Tobago’s Unemployment Relief Programme (URP) are facing the possibility of losing their jobs over the upcoming weeks because of financial difficulties facing the programme.

Tobago House of Assembly (THA) Assistant Secretary of the Division of Infrastructure, Quarries and the Environment, Sheldon Cunningham, said yesterday that a press conference will be held on Tuesday to disclose exactly what is the way forward for the programme.

In Tobago, the URP falls under the purview of the DIQE.

Imbert: US$1.25 billion spent on credit card purchases last year

Finance Minister Colm Imbert has told the House of Representatives that the credit card purchases originating in Trinidad and Tobago, consumed US$1.2 billion in 2017.

A further US$1.8 billion dollars was injected by the Central Bank to buffer the TT dollar to the US dollar exchange rate.

The breakdown is as follows:

Credit Card Purchases in 2017:

January - US$108.5 million

February - US$70.5 million

March - US$94.1 million

April - US$68.3 million

May - US$100.5 million

June - US$90.4 million

July - US$101.6 million

Hadad: Proposed measures to accommodate Tobago passengers will not work

"It's going to be ole mas in Tobago today."

That's according to president of the Inter-Island Transport Committee's Tobago Division Dianne Hadad. 

Her comments follow yesterday's announcement that the T&T Express has been taken off the route. 

She adds the proposed measures to accommodate passengers will not work.

Jesse Ramdeo tells us more.

 

PTSC: No plan to raise bus fares

If everything else is “going up,” PTSC bus commuters are still safe from fare hikes—so far.

Although the Public Transport Service Corporation (PTSC) hasn’t had a fare increase in 26 years and depends on an 80 per cent subsidy from the Government, there’s no intention to consider raising fares, PTSC chairman Edwin Gooding has assured.

Gooding did so yesterday when PTSC managers were interviewed by Parliament’s Joint Select Committee (JSC) on Land and Physical Infrastructure. This examined the bus transport system’s efficiency.

Church, charity, school bodies still exempt from Property Tax

It’s official: property used by churches, educational and charitable institutions will continue to be exempt from the Property Tax Government intends to implement this year.

Finance Minister Colm Imbert confirmed this yesterday following queries about a clause in new proposed Property Tax legislation which was laid in Parliament last Friday. Also presented was new Valuation of Land proposals to effect the VOL act. Both pieces will be debated later on.

Revamped Property Tax proposals from Govt

s Property Tax looming for properties used for religious, educational and charitable purposes?

The areas—so far exempt from the tax—are spotlighted in new proposed Property Tax legislation laid last Friday.

New Property Tax proposals, plus new proposals concerning the Valuation of Land (VOL) act, were part of a supplemental package laid in Parliament.

The proposals concerning the VOL involve a revamped Valuation Return form, seeking expanded details about properties.

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