The government of Trinidad and Tobago is poised to seek approval for a substantial increase in the 2026 Budget. Prime Minister Kamla Persad-Bissessar announced the intended addition of TT$2.93 billion, which would bring the total expenditure to an estimated TT$62.16 billion.
A significant portion of the supplementary funding, TT$2.83 billion, is earmarked for salary increases for more than 62,000 unionised workers. This follows recently concluded wage agreement negotiations.
Finance Minister Dave Tancoo is slated to present the mid-year budget review on June 15, with the accompanying Finance Bill outlining several proposed changes. These include tax exemptions for specific pension and annuity plans, and adjustments to the Landlord Business Surcharge.
The Bill also details revised gaming taxes, and updates to pension benefits for police, fire, and prison officers. Additionally, it introduces amendments to shipping regulations and various other fiscal measures, as initially announced in the 2026 Budget.
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