Monday’s cut in the fuel subsidy will see government saving $550 million.
This was revealed by Finance Minister Colm Imbert following the T&T Chamber of Industry and Commerce’s annual post-budget analysis meeting with the business community.
With the price of super gasoline moving from $3.58 to $3.97 per litre and diesel increasing from $2.30 to $3.41per litre at the pumps with immediate effect, Imbert was asked how much money government expected to save having steadily removed the subsidy over continuous budgets.
President of the Trinidad and Tobago Members Club Association (TTMCA), Sherry Persad has announced that some casinos have decided to immediately close their doors as a result of the new tax measures introduced in the 2018 Budget.
Persad said the decision came at a meeting held at 1pm today to discuss the measures.
They are also calling on the Opposition to withhold support for the Gambling Bill.
Persad issued the following statement after today's meeting:
The Employers Consultative Association of Trinidad and Tobago (ECA) says its initial assessment of the Budget is that it is balanced.
The ECA is pleased with measures directed towards the strengthening of small businesses and measures to encourage more tripartite consultation.
The ECA issued the following reaction to the Budget presentation: