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Former Prime Minister Stuart Young has accused the Kamla Persad-Bissessar administration of causing widespread job losses, weakening the energy sector and misleading the public about Trinidad and Tobago's economic outlook ahead of the 2027 national budget. In a strongly worded statement issued on Sunday, October 11, 2026, Young claimed the United National Congress (UNC) Government was responsible for at least 40,000 job losses across the country. He pointed to businesses closing, declining activity in shopping malls and retrenchments affecting workers in both the public and private sectors. Young specifically named CEPEP, URP, HDC, Heritage Petroleum, the National Gas Company, Phoenix Park Gas Processors, WASA, T&TEC and government ministries among organisations where he alleged workers had lost their jobs. His comments follow reports that approximately 100 employees were retrenched by Proman Trinidad, representing a nine per cent reduction in its local workforce. Young accused the Government of promoting what he described as misleading messages about employment opportunities and economic recovery ahead of Monday's budget presentation. He also criticised amendments to the Public Procurement and Disposal of Public Property legislation, alleging that the changes weakened the Office of Procurement Regulation to benefit individuals connected to the administration. Young further questioned what he described as Government interference in the management of First Citizens Bank and Republic Bank, suggesting possible political motives. His statement did not provide evidence establishing improper interference or financial misconduct involving either institution. The former Prime Minister described the administration as a "Kakistocracy" and accused it of placing political interests ahead of the country's economic wellbeing. While Young claimed more than 40,000 jobs had been lost because of the UNC Government, he did not provide a detailed statistical breakdown supporting that figure. The total and its attribution to Government policy have not been independently verified. Official Central Statistical Office figures recorded an unemployment rate of 5.4 per cent in the first quarter of 2026, compared with 4.3 per cent in the final quarter of 2025. Young urged citizens to question the Government's economic messaging and warned against accepting promises of a brighter future without examining employment conditions and business activity. He concluded his statement by declaring that Trinidad and Tobago was not benefiting from the administration's policies. The criticism comes ahead of Finance Minister Davendranath Tancoo's presentation of the 2027 national budget on Monday, October 12, when the Government is expected to outline its economic priorities and fiscal plans.
Former Prime Minister Stuart Young has accused the Kamla Persad-Bissessar administration of causing widespread job losses, weakening the energy sector and misleading the public about Trinidad and Tobago’s economic outlook ahead of the 2027 national budget.
In a strongly worded statement issued on Sunday, October 11, 2026, Young claimed the United National Congress (UNC) Government was responsible for at least 40,000 job losses across the country.
He pointed to businesses closing, declining activity in shopping malls and retrenchments affecting workers in both the public and private sectors.
Young specifically named CEPEP, URP, HDC, Heritage Petroleum, the National Gas Company, Phoenix Park Gas Processors, WASA, T&TEC and government ministries among organisations where he alleged workers had lost their jobs.
His comments follow reports that approximately 100 employees were retrenched by Proman Trinidad, representing a nine per cent reduction in its local workforce.
Young accused the Government of promoting what he described as misleading messages about employment opportunities and economic recovery ahead of Monday’s budget presentation.
He also criticised amendments to the Public Procurement and Disposal of Public Property legislation, alleging that the changes weakened the Office of Procurement Regulation to benefit individuals connected to the administration.
Young further questioned what he described as Government interference in the management of First Citizens Bank and Republic Bank, suggesting possible political motives. His statement did not provide evidence establishing improper interference or financial misconduct involving either institution.
The former Prime Minister described the administration as a “Kakistocracy” and accused it of placing political interests ahead of the country’s economic wellbeing.
While Young claimed more than 40,000 jobs had been lost because of the UNC Government, he did not provide a detailed statistical breakdown supporting that figure. The total and its attribution to Government policy have not been independently verified.
Official Central Statistical Office figures recorded an unemployment rate of 5.4 per cent in the first quarter of 2026, compared with 4.3 per cent in the final quarter of 2025.
Young urged citizens to question the Government’s economic messaging and warned against accepting promises of a brighter future without examining employment conditions and business activity.
He concluded his statement by declaring that Trinidad and Tobago was not benefiting from the administration’s policies.
The criticism comes ahead of Finance Minister Davendranath Tancoo’s presentation of the 2027 national budget on Monday, October 12, when the Government is expected to outline its economic priorities and fiscal plans.
News Desk is the editorial publishing account for Tringlobe Media News, covering breaking news, public affairs, entertainment, community developments and regional stories across Trinidad and Tobago, the Caribbean and internationally.
