In terms of business emphasis will be placed on

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

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,