Finance Minister Says No New Taxes In Finance Bill, Accuses Opposition Of Misinformation
Finance Minister Davendranath Tancoo has dismissed claims that the Government is introducing new taxes, insisting that no additional burdens will be placed on citizens.
Speaking during debate on the Finance Bill, 2026, in the Lower House on Wednesday, he slammed the Opposition over what he described as “misinformation” about new taxes.
« There are 31 clauses in this Bill, Mr Speaker, and not a single new tax that any citizen has to pay. You are misinforming the population. It’s mischief. The only new introduction of a fiscal regime, Mr Speaker, is for companies involved in drilling operations in marginal fields and who must now pay to the Treasury, the country’s part of the shares and proceeds. »
Minister Tancoo also addressed longstanding manpower challenges within the protective services, which he said the current administration inherited.
« Every arm of the protective services has faced staffing constraints and considerations and challenges under that former administration. This shortage is directly related to the massive crime waves that existed under the PNM. It was PNM’s refusal to act that facilitated the highest murder rates in this country year after year after year. We inherited a Police Service, Mr Speaker, which was understaffed by an estimated 1,400 police officers. »
He noted that these shortages contributed to declining morale among officers.
« The prison service was also severely understaffed. The fire service was missing 400 officers. The result was a system where officers were being repeatedly asked to undertake responsibilities, sometimes in positions several layers higher than their substantive positions, but without being able to receive appropriate retirement benefits. I am proud to say this is what clauses 4, 5 and 11 begin to correct. »
The legislation will allow officers who act in higher positions for between one and three years to qualify for pension and gratuity benefits aligned with those posts.
