Budget
passed - Senior citizens to get $200 more
By Curtis Williams
The Trinidad Guardian
Port
Spain
Petroleumworldtt.com
10 15 06
The
2006/2007 budget has been passed by the House of
Representatives. It was passed yesterday shortly
after 5 pm with the only change being a further
$100 increase in the Senior Citizens Grant up from
$1,150 to $1,350, an increase of $200 for old age
pensioners.
In
his wind-up, Prime Minister Patrick Manning said
the Government was committed to controlling the
rate of inflation in the country and had set plans
to achieve its goal.
He
admitted that inflation had risen higher than was
acceptable but said a ministerial committee had
been put in place to ensure that in the coming financial
year, inflation would not exceed seven per cent.
Manning
again outlined efforts to remove supply constraints
in the economy, including the establishment of state
farms to increase food output.
On
the issue of construction prices, Manning criticised
businessmen for the shortage in building blocks.
The
Prime Minister noted that for some time businessmen
were aware that a construction boom was approaching
and yet they had not taken advantage of the opportunities
to increase the supply of clay and concrete blocks.
Manning
told the Lower House that if that continued, the
Government would have to partner with the private
sector “either locally or internationally”
to ensure there was sufficient building material
so that the rate of economic expansion is not stymied.
He
said The Government had also looked at the true
demand for housing and recognised that it was more
than initially thought.
He
said: “When we first looked at the housing
programme, we thought that we would have to build
100,000 homes over a 10-year period, but as we build
we recognise that the demand is more and we will
have to continue building beyond the ten years.”
He
said the real demand was more than 100,000 and the
Government was committed to building houses past
the initial ten-year deadline.
The
Trinidad Guardian
Saturday 14th October, 2006
Copyright
©2006 The Trinidad Guardian. All Rights Reserved.
