Keith Rowley on Friday accused the People's Partnership government of economic mismanagement and of a "sinister" plot to go to the International Monetary Fund (IMF) for support when the money runs out.
The Opposition Leader was at the time delivering his reply to the budget speech presented on Monday by Finance Minister Winston Dookeran.
Rowley said the budget was vague. "At times, the speech bordered on delusional, or was of such extreme vagueness that one had to struggle to follow what the Minister of Finance was really saying."
He said Dookeran failed to identify any clear revenue-generating activities to finance the $54.6 billion budget and called the budget speech an elaborate exercise in "obfuscation, self praise and deceit".
Rowley also suggested that the price of US$75 a barrel for oil on which Dookeran based the budget is part of an elaborate plot by the government to spend all the money and then run for help from the IMF.
"By budgeting at $75, any shortfall from there opens a back door to the IMF because the Government could then claim, when they go to the IMF, that there has been a shortfall in the budgeting process," Rowley stated.
He added, "They could not do that if they had budgeted at $65. Anytime they get into difficulty, they can run to the IMF and say our budgetary provisions have underperformed and we qualify for IMF support.
"I am putting this Government on notice. I am putting this country on notice that the Government is paving the way for another IMF intervention in Trinidad and Tobago," he said.
Rowley also called on the government to provide clarity on the Clico payout plan, which involves placing a majority of Clico's $2.96 billion worth of shares in Republic Bank Limited (RBL) into the NEL 2 Trust.
"What is the nature of those shares in so far as whether they are encumbered or whether they are free of encumbrance? That is useful information that we must have to appreciate the creation of NEL 2."
Rowley also predicted that the Government would take this country to the brink of a recession.
He noted that under the Manning PNM administration Trinidad and Tobago was experiencing positive growth just before the General Elections of 2010, adding that the new government failed to take that growth further.
"Rising unemployment, increased national debt and they have destroyed any semblance of business confidence," Rowley said. "If this is not economic mismanagement, then you tell me what is. For them, this is good economic management, PP style."
The Opposition Leader was at the time delivering his reply to the budget speech presented on Monday by Finance Minister Winston Dookeran.
Rowley said the budget was vague. "At times, the speech bordered on delusional, or was of such extreme vagueness that one had to struggle to follow what the Minister of Finance was really saying."
He said Dookeran failed to identify any clear revenue-generating activities to finance the $54.6 billion budget and called the budget speech an elaborate exercise in "obfuscation, self praise and deceit".
Rowley also suggested that the price of US$75 a barrel for oil on which Dookeran based the budget is part of an elaborate plot by the government to spend all the money and then run for help from the IMF.
"By budgeting at $75, any shortfall from there opens a back door to the IMF because the Government could then claim, when they go to the IMF, that there has been a shortfall in the budgeting process," Rowley stated.
He added, "They could not do that if they had budgeted at $65. Anytime they get into difficulty, they can run to the IMF and say our budgetary provisions have underperformed and we qualify for IMF support.
"I am putting this Government on notice. I am putting this country on notice that the Government is paving the way for another IMF intervention in Trinidad and Tobago," he said.
Rowley also called on the government to provide clarity on the Clico payout plan, which involves placing a majority of Clico's $2.96 billion worth of shares in Republic Bank Limited (RBL) into the NEL 2 Trust.
"What is the nature of those shares in so far as whether they are encumbered or whether they are free of encumbrance? That is useful information that we must have to appreciate the creation of NEL 2."
Rowley also predicted that the Government would take this country to the brink of a recession.
He noted that under the Manning PNM administration Trinidad and Tobago was experiencing positive growth just before the General Elections of 2010, adding that the new government failed to take that growth further.
"Rising unemployment, increased national debt and they have destroyed any semblance of business confidence," Rowley said. "If this is not economic mismanagement, then you tell me what is. For them, this is good economic management, PP style."
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