Live Blog: BUDGET 2022

The 2022 Budget will be read in Parliament by Finance Minister Colm Imbert at 1.30 pm. Join us for live coverage and updates with reactions from citizens, analysts, economists, and other stakeholders.

This will be Imbert’s sixth budget presentation since he was appointed finance minister on September 11, 2015. It could also arguably be the most challenging one he has presented to date.

Use the hashtag #ttbudget2022 to join the discussion.

Finance Minister Colm Imbert proposed that new tech startups benefit from a 50% tax exemption on the first $100,000 of chargeable income for the first year and the first $200,000 of chargeable income in the second year to motivate companies to get involved in digitisation.

— T&T Newsday (@Newsday_TT) October 4, 2021

Finance Minister Colm Imbert proposes tech startups benefit from 5% reduction in the tax rate to support the digitisation thrust. #TTBudget2022

— T&T Newsday (@Newsday_TT) October 4, 2021

Tobago has received an allocation of $2.357 billion to manage its affairs during the next 12 months.#TTBudget2022 https://t.co/VspyliDNFp

— T&T Newsday (@Newsday_TT) October 4, 2021

Finance Minister Colm Imbert said the differently-abled community will benefit from the removal of VAT and customs duty on specified equipment. #TTBudget2022

— T&T Newsday (@Newsday_TT) October 4, 2021

Plans are afoot for Trinidad and Tobago to host at least three major international sporting events in the coming fiscal year.#TTBudget2022https://t.co/nwashrgYN4

— T&T Newsday (@Newsday_TT) October 4, 2021

The following food items will be exempt from VAT from November:

Biscuits
Cooking oil
Canned vegetables
Cornflakes
Canned fish
Canned meat
Curry
Juice
Sausages and ham
Ketchup
Bottled water
Pigtail @Newsday_TT #ttbudget2022

— Narissa Fraser (@rhopico) October 4, 2021

Finance Minister Colm Imbert said 100 audit and compliance officers will be recruited to enhance revenue collection. #TTBudget2022

— T&T Newsday (@Newsday_TT) October 4, 2021

Finance Minister Colm Imbert said all customs duty, motor vehicle and value added tax (VAT) will be removed from the importation of “battery-powered electric vehicles, with an age limit on imported used battery powered electric vehicles of two years.”@Newsday_TT #ttbudget2022

— Narissa Fraser (@rhopico) October 4, 2021

Finance Minister Colm Imbert said the fine for overweight trucks using public roads will increase from $750 to $8,000. @Newsday_TT #ttbudget2022

— Narissa Fraser (@rhopico) October 4, 2021

Finance Minister Colm Imbert says the total allocation to the Tobago House of Assembly is $2,357,000,000.

He outlined allocations of $50m for a hotel and tour programme, $30m for farmland development and $20m for green spaces in Tobago. @Newsday_TT #ttbudget2022

— Narissa Fraser (@rhopico) October 4, 2021

Finance Minister Colm Imbert said $30 million for farmland development in Tobago. This he said should allow for the rehabilitation of abandoned or underutilised agricultural estates, and to help farmers upgrade existing infrastructure and technology. #TTBudget2022

— T&T Newsday (@Newsday_TT) October 4, 2021

Finance Minister: Govt allocates $50 million for Tobago hotel and tourism support programme. It will provide “working capital” for stakeholders in fiscal 2022. @Newsday_TT

— Snicholas (@snicholasTT) October 4, 2021

Finance Minister Colm Imbert said he anticipates fans to be allowed at local sporting events in 2022, contingent upon the vaccination drive. @Newsday_TT

— Snicholas (@snicholasTT) October 4, 2021

Imbert: Government considering the TTCB’s interest in hosting matches during England’s tour of the West Indies in February 2022 @Newsday_TT

— Snicholas (@snicholasTT) October 4, 2021

Finance Minister Colm Imbert said natural gas production is projected to rise, oil and condensate production has been increasing and #renewableenergy will be incorporated into the local energy supply grid. #TTBudget2022

— T&T Newsday (@Newsday_TT) October 4, 2021

Finance Minister Colm Imbert says he has instructed the CPO to move to settle outstanding wage negotiations in the public service. @Newsday_TT

— Melissa Doughty 4 (@newsday_doughty) October 4, 2021

Finance Minister Colm Imbert said neonatal mortality is now on the decline with under 7 deaths per 1000 live births – an additional 90 babies alive per year since 2017. #TTBudget2022

— T&T Newsday (@Newsday_TT) October 4, 2021

Finance Minister Colm Imbert said categories of skilled workers eligible for free movement under the #CSME Act will be expanded from five to 10. More Trinidad and Tobago nationals will be able to live and work in other Caricom countries and vice versa. #TTBudget2022

— T&T Newsday (@Newsday_TT) October 4, 2021

Finance Minister Colm Imbert said food prices should subside to pre-pandemic ranges in 2022, once the transitory disturbances are worked through. #TTBudget2022

— T&T Newsday (@Newsday_TT) October 4, 2021

Finance Minister Colm Imbert said $300m will go towards the agriculture stimulus package fund next year. @Newsday_TT #ttbudget2022

— Narissa Fraser (@rhopico) October 4, 2021

Finance Minister Colm Imbert said upon completion of upgrades to the ANR Robinson International Airport, Tobago will benefit from an international airport with sufficient capacity and level of services that will help boost tourism on the island. #TTBudget2022

— T&T Newsday (@Newsday_TT) October 4, 2021

Couva South MP Rudranath Indarsingh predicts “more pain, suffering and depression” in the budget 2022 presentation.

See full video here: https://t.co/sUnQcN1EtW#ttbudget2022 pic.twitter.com/ikTKjV8fvk

— T&T Newsday (@Newsday_TT) October 4, 2021

Finance Minister Colm Imbert said the Development Bank of Latin America is providing US $175 million for a sector-wide approach programme, for modernised transportation infrastructure. #TTBudget2022

— T&T Newsday (@Newsday_TT) October 4, 2021

Finance Minister Colm Imbert said in 2022 the number of ICT (Information Communication Technology) centres in digitally underserved communities will be increased from six to 50. Increased training and community participation will be fostered and promoted. #TTBudget2022

— T&T Newsday (@Newsday_TT) October 4, 2021

TT wifi will continue to provide free broadband access driven by TSTT. @Newsday_TT

— Melissa Doughty 4 (@newsday_doughty) October 4, 2021

Colm Imbert says many people prefer digital transactions. @Newsday_TT

— Melissa Doughty 4 (@newsday_doughty) October 4, 2021

Colm Imbert says online education is here to stay. @Newsday_TT

— Melissa Doughty 4 (@newsday_doughty) October 4, 2021

Finance Minister Colm Imbert said in September the government implemented guidance for the banking sector to allow for relaxed and simplified rules to make opening bank accounts easier for people who would have previously been excluded by traditional requirements. #TTBudget2022

— T&T Newsday (@Newsday_TT) October 4, 2021

In 2022 Government move to restructure HDC. @Newsday_TT

— Melissa Doughty 4 (@newsday_doughty) October 4, 2021

Finance Minister Colm Imbert said the resumption of property tax collection is overdue and is expected to significantly impact revenue for local government in years to come.

— T&T Newsday (@Newsday_TT) October 4, 2021

Public Utilities Minister Marvin Gonzales says the “transformation” of a service does not mean there will be job cuts, as members of the Opposition have suggested about budget 2022.

Video by Narissa Fraser #ttbudget2022 pic.twitter.com/axTyasYTAa

— T&T Newsday (@Newsday_TT) October 4, 2021

Finance Minister Colm Imbert said the gambling industry is a $16 billion industry and could generate up to $5 million per annum in taxes. #TTBudget2022

— T&T Newsday (@Newsday_TT) October 4, 2021

Finance Minister Colm Imbert said the 2021 tax amnesty has raised $1 billion. #TTBudget2022

— T&T Newsday (@Newsday_TT) October 4, 2021

Imbert said Trinidad and Tobago’s credit rating is better than many countries in Latin America and the Caribbean.

— T&T Newsday (@Newsday_TT) October 4, 2021

Imbert said he wished to remind the population that the government reduced value-added tax and twice increased the personal allowance over the past two years, “relieving hundreds of thousands of people from being required to pay income tax”. #TTBudget2022

— T&T Newsday (@Newsday_TT) October 4, 2021

Opposition Leader Kamla Persad-Bissessar said the government “gave away a lot of money” in dealing with the covid19 pandemic, adding that she expects “many repeats” in budget 2022.

See full video by Narissa Fraser here: https://t.co/1NBPa5kKuG#ttbudget2022 pic.twitter.com/IfPVYS9PPn

— T&T Newsday (@Newsday_TT) October 4, 2021

Imbert said he looks forward to strong economic recovery in 2022. #TTBudget2022 pic.twitter.com/pwmIL0eYKX

— T&T Newsday (@Newsday_TT) October 4, 2021

Imbert expects higher energy revenue in response to higher energy prices. pic.twitter.com/8ZGybcPcmH

— T&T Newsday (@Newsday_TT) October 4, 2021

San Fernando East MP and Minister in the Ministry of Finance Brian Manning said while he cannot say too much about budget 2022 yet, it will focus on agriculture and diversification.

Video by Narissa Fraser #ttbudget2022 pic.twitter.com/74OcLNqvUp

— T&T Newsday (@Newsday_TT) October 4, 2021

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