BEFORE a packed La Joya Complex auditorium, Opposition Leader Kamla Persad-Bissessar rolled out an economic package should the nation votes the UNC back into office on April 28.
This meeting was in a town hall format, where are formal speeches, the panel led by Persad-Bissessar, fielded questions from the audience. There was not a single empty seat in the auditorium as hundreds of people turned up.
Persad-Bissessar, the final speaker of the evening, took notes as she listened to previous speakers. Dressed in royal blue with the party’s rising sun logo, she stepped up to the podium to a standing ovation.
She began by addressing the timing of the meeting, apologising for holding a political event during Ramadan and Lent. "I mean no disrespect, but it is the young man (PM Stuart Young) who called the election during this holy month."
Turning to economic policy, she revisited the Development Bank of Latin America and the Caribbean (CAF) agreement, initially signed under her government, and outlined her administration’s vision for the future.
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She pledged to lower corporate taxes over the next five years saying, "You cannot tax your way into prosperity. Over-taxation leads to misdirected subsidies, stifling growth. Reducing corporate taxes, particularly for small and medium-sized enterprises, we will support business expansion, job creation, and ultimately, increased revenue."
She also promised no property tax, as she vowed to simplify and expedite environmental approvals for businesses, criticising excessive regulations that drive up costs and discourage investment.
She proposed requiring operational businesses to implement environmental management systems, arguing it would reduce bureaucratic hurdles while ensuring long-term sustainability.
On international trade, the UNC leader stressed the importance of securing double taxation agreements with more countries, particularly in South America, West Africa and the Commonwealth.
"South America alone has over 600 million potential consumers, an untapped market for our products. By expanding trade agreements, we can boost exports, attract skilled foreign investors and create new economic opportunities."
She then addressed legal reforms, promising to strengthen legislation to protect minority shareholders and improve contract law.
Persad-Bissessar announced plans to make Spanish a compulsory second language in schools, starting as early as preschool.
"This is not just about the growing Venezuelan population. It’s about equipping our workforce to engage with the South American market of over 422 million consumers."
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She stressed the urgency of integrating computer technology and software development into the education system.
She criticised government's economic management and said she believes the removal of the one-cent coin was a symbolic loss that contributed to rising prices.
She condemned the discontinuation of the laptop distribution programme in schools and promised to reinstate it, saying there is a need for greater investment in computer technology and software development in education.
She proposed a quality assurance management system to streamline business operations across government agencies, arguing it would reduce bureaucratic delays, lower export costs, and improve access to foreign exchange.
She also criticised the government's handling of the energy sector, referring to an "energy drought" and calling for renewed investment in resources.
On trade and infrastructure, she pledged to improve road networks, modernise port facilities, expand customs personnel and implement blockchain technology to enhance business efficiency.
She also promised to strengthen the Bureau of Standards to prevent the influx of low-quality imported goods, which harm local manufacturers.
To support economic growth, Persad-Bissessar proposed tax incentives for employee training and retraining and stronger Caricom trade agreements to expand markets.
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She argued her policies would promote business growth, create jobs and increase foreign exchange earnings, positioning TT long-term economic stability.
Among earlier speakers were UNC chairman Dave Tancoo, former energy minister Kevin Ramnarine and former PNM MP and government minister Kennedy Swaratsingh whose appearance and speaking caused a murmur among the crowd. However, by the end of his speech, the got the second loudest round of applause from the audience.
Speaking on the country's financial state, Tancoo alleges the government had spent over 650 billion in the last ten years, yet key economic indicators have worsened.
Tancoo said there is a 20 per cent decline in the country’s GDP between 2015 and 2024, a trend he says contrasts with global economic growth, especially post-pandemic.
Tancoo said TT's economy had contracted significantly, leading to decreased production of goods and services.
He also alleges there has been a loss of over 50,000 jobs, which has tripled public and foreign debt. He said there had also been declines in agriculture and tourism.
Tancoo argued these indicators prove the country is "worse off today" than it was under the UNC.
“Where has all that money gone?” He asked.
Tancoo concluded by calling for greater scrutiny of government spending and urged citizens to demand accountability from the administration.
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