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Tobago's allocation for capital development has fallen to approximately TT$150 million for fiscal 2027, prompting renewed concerns from Chief Secretary Farley Augustine about the island's ability to finance major infrastructure projects. Speaking following the national budget presentation on Monday, October 12, Augustine revealed that the development allocation had declined from approximately TT$201 million in the previous fiscal year. The reduction represents roughly TT$51 million less for capital development. Augustine said he had consistently argued throughout his political career that Tobago required a larger allocation for infrastructure and other long-term development projects. He noted that the island had experienced one particularly favourable year under the previous People's National Movement administration, when development funding reached approximately TT$300 million. However, he said most other allocations had remained near historically inadequate levels. The Chief Secretary described the latest reduction as disappointing, particularly after the progress Tobago believed it had achieved in the previous fiscal year. He explained that development financing was essential for improving public infrastructure, expanding economic activity and creating opportunities beyond the government sector. Augustine said the THA would continue seeking additional funding while exploring private investment and public-private partnerships to reduce the pressure on its limited development budget.
Tobago’s allocation for capital development has fallen to approximately TT$150 million for fiscal 2027, prompting renewed concerns from Chief Secretary Farley Augustine about the island’s ability to finance major infrastructure projects. Speaking following the national budget presentation on Monday, October 12, Augustine revealed that the development allocation had declined from approximately TT$201 million in the previous fiscal year. The reduction represents roughly TT$51 million less for capital development. Augustine said he had consistently argued throughout his political career that Tobago required a larger allocation for infrastructure and other long-term development projects. He noted that the island had experienced one particularly favourable year under the previous People’s National Movement administration, when development funding reached approximately TT$300 million. However, he said most other allocations had remained near historically inadequate levels. The Chief Secretary described the latest reduction as disappointing, particularly after the progress Tobago believed it had achieved in the previous fiscal year. He explained that development financing was essential for improving public infrastructure, expanding economic activity and creating opportunities beyond the government sector. Augustine said the THA would continue seeking additional funding while exploring private investment and public-private partnerships to reduce the pressure on its limited development budget.
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