In terms of business emphasis will be placed on removing constraints and

In terms of business emphasis will be placed on

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In terms of business, emphasis will be placed on removing constraints and creating incentives that can mobilise the private sector to make the type of productivity-enhancing investments that result in sustained economic growth. These will be complemented by structural reforms to improve competitiveness, the productivity of investment, the business environment, and the labour mar- ket. The main transformations, therefore, are to rationalise expenditures, encourage investment, particularly in infrastructure and develop a system of transparent and responsible spending. Macro-economic Policy GOVERNMENT ' S DECISIONS about the collection and use of public funds deter- mine how people live . It affects the industries we work in, our ability to pay for healthcare , it determines whether we live in fear , drive or take public transport . From the child in the unemployed household to the mother that receives a lifesaving surgery to the small business that is finally profitable - all are depen- dent on the government’s macroeconomic policy, to some extent. In this context, Trinidad and Tobago needs to pursue prudent macroeconomic policies, maintain fiscal discipline and a stable dollar. Given the more uncer- tain environment, the country cannot afford to live on debt or by depleting hard-earned reserves . Government will spend on what is needed and contain expenditures at a sustainable level capable of facilitating national develop- ment. The society must also eschew unreasonable wage demands and unfair market practice . To make the shift, the country needs a prudent mix of guide- lines and rules that spans the monetary, incomes and fiscal spheres. 34
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1. RATIONALISE EXPENDITURES As a first step, expenditure will be reprioritised, unproductive spending will be curbed and sup- port given to productive areas. Government will reassess its operations, processes and service delivery towards achieving greater operational efficiencies. The review will focus on consolidating operations and finding sav- ings that would reflect the primary goal of achieving efficiencies in operations, productivity improvements and aligning spending with the priorities of citizens. 2. INVEST IN STRATEGIC INFRASTRUCTURE Investment in growth-enhancing infrastructure is crucial to stimulating economic activity and societal transformation. In this regard, Govern- ment will establish a green infrastructure fund (GIF) that will support investment in: public trans- port; research infrastructure; green infrastructure including solar, water and wastewater facilities; climate resilient infrastructure; and social infra- structure such as affordable (greener) housing. The fund will provide the benefit of lower taxes in the targeted areas and its projects would be mainly long-term strategic ini- tiatives that not only create stimulus in the short term but lead to new skills, jobs, greener infrastructure, and a more sustain- able economy in the future. Entities such as the private sector would contribute to the GIF and implementation would be mainly through public-private partnerships (PPPs). Most importantly,
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