Prime Minister Kamla Persad-Bissessar announced yesterday that Government will seek an additional $2.93 billion in supplementary appropriation to cover increased wages for more than 62,000 workers.
In October 2025, Finance Minister Davendranath Tancoo presented the national budget with planned expenditure of $59.232 billion, based on an oil price of US$73.25 per barrel and a gas price of US$4.35 per mmbtu.
He projected revenue of $55.367 billion against expenditure of $59.232 billion, resulting in a fiscal deficit of $3.865 billion.
The Prime Minister delivered a comprehensive statement following the opening of the second session of the 13th Republican Parliament yesterday where she said additional funding was required to cover wage increases.
She said her Government would find the money.
The Prime Minister announced that the Finance Bill, 2026, will be brought to the House next Wednesday, June 10, at 10.30 a.m. to give effect to measures announced in the 2025/2026 national budget.
The House of Representatives will meet on June 12 at 1.30 p.m. for the Standing Finance Committee, followed by debate on the Supplementary Appropriation Bill (mid-year budget review) on June 15.
“That Supplementary Bill that will be coming is to ask for more money—$2.93 billion in supplementation to meet the bills of Trinidad and Tobago in this fiscal year 2026/2026. Out of that $2.93 billion that we are asking for, $2.83 billion is recurrent and it will apply to the new wages and salaries that we have been paying. Over 60,000 persons are getting increased salaries and so we have to find the money!” she said.
Persad-Bissessar said she was “very proud and humbled” that approximately 62,050 workers were receiving higher salaries.
She provided the following breakdown:
• PSA – 18,000 employees
• NUGFW – 20,000
• Teachers – 15,000
• TTDF – 6,000
• Amalgamated – 1,300
• Contractors Workers Union – 900
• WIGUT – 850
In addition to increasing wages, Persad-Bissessar outlined her Government’s employment initiatives.
She said official Central Statistical Office (CSO) data showed that approximately 8,000 jobs were created in the final quarter of 2025, while youth unemployment fell from 12.2% to 7.7%.
Between April 2025 and April 2026, Government delivered 14,080 jobs across 18 ministries, she said.
Persad-Bissessar said proposed housing projects will create more than 4,000 jobs, while projects under the first phase of the Blueprint Revitalisation Plan are expected to generate another 4,000 jobs.
She also pointed to a planned 500-acre expansion of the “Plipdeco estate at Point Lisas along with three projects nearing approval to commence at Plipdeco—two in the metals industry and one in food manufacturing”.
The creation of a 256-acre Special Economic Zone (SEZ) to house data centres at Picton, near The UWI South Campus, is also being advanced.
“These projects will create thousands of jobs,” she said.
The Prime Minister also said that, as promised, legislation will be brought to Parliament to remove taxes on private pensions.
‘International gains’
Persad-Bissessar told Parliament the former People’s National Movement (PNM) government left the country in a difficult state, noting that national debt nearly doubled during its decade in office—from $75.4 billion in 2015 to $144.7 billion in 2025.
She said economic output contracted by 20%, foreign reserves were cut in half, and billions were withdrawn from national savings.
“In just one year, we have begun to turn the tide and restore Trinidad and Tobago’s standing within the international community,” she said.
Persad-Bissessar highlighted Trinidad and Tobago’s election to the United Nations Security Council for a two-year term as one example of the country’s international gains.
She added that the World Bank’s decision to establish a permanent World Bank Group office in Trinidad and Tobago represented one of the most significant votes of confidence in the country’s economy in recent decades.
The Prime Minister said Trinidad and Tobago’s removal from the European Union tax blacklist sent a strong signal to the international community that the country remains a credible, responsible and competitive destination for investment and business.
She further noted the Government successfully raised a US$1 billion bond, which was oversubscribed 2.5 times by 140 global investors.
The Prime Minister also outlined support provided to vulnerable citizens:
• More than 117,000 elderly citizens received $3.8 billion in pensions.
• 25,602 persons with disabilities received $520.3 million in grants.
• 13,869 vulnerable families received $216 million in direct support.
• 12,614 vulnerable citizens received $75.7 million in food support.
• 2,808 people benefited from 1,232 disaster relief grants.
Turning to Tobago, Persad-Bissessar recalled that the island received its highest-ever allocation in the 2025/2026 budget—$3.724 billion, representing 6.3% of the national budget.
She said the Central Government will work with the Tobago House of Assembly on legislative and administrative reforms, including addressing long-standing anomalies in the THA Act.
Persad-Bissessar recalled saying in April that better days were coming.
“I now say, Mr Speaker, better days are here and they will continue to get brighter,” she said.
The Prime Minister also listed items to come on the Parliamentary agenda for the second session of Parliament which include:
• A medical malpractice court
• A no-fault compensation system
• Regulatory frameworks for cannabis and agricultural diversification
• Amendments to modernise the Education Act
• Development of a Parental Responsibility framework to address school violence
• Increases in age limit for use of marijuana, alcohol and gambling.
• The Victims’ Rights Act,
• Chancellor for the Judiciary
• Amendments to the Firearms Act
• Legislation for gated communities
• Social media regulation for children under 12
• Local Government reform of construction and building approvals.
