TT budget set for September

The Trinidad and Tobago government will present its 2009/2010 budget in Parliament in September. And junior finance minister Mariano Browne told reporters Thursday it will include some measure of "phased expenditure".

Browne declined comment on details of the financial measure, telling reporters the package is still in its planning stages.

"The budget speech is in September and I’m sure that you’ll be able to get all of the details then," he said in reply to repeated questions about the budget.

He admitted that due to the deteriorating state of the economy the budget is not easy to plan and suggested the approach would be to ensure that the government keeps spending in line with revenue. "One could not spend more than one earned," he noted.

Browne did talk about one item - the spending on four helicopters, which will cost nearly US$100 million. He said half the purchase price for the aircraft would be allocated in the budget for the first two of the four ordered.

The other half would be in the next budget. He didn't say when the rest of the $TT2.3 billion contract would be paid.

The budget is also likely to contain a $272 million "stimulus plan" for small contractors to build build 92 community centres across the country in 2010 and an increase of $70 million to pay stipends for the the job training program.