Saturday, March 17, 2018

Learning to live with less money?*

IN the wake of last week’s political opinion polls, which were published to coincide with the second anniversary of the current administration’s five-year term, much of the commentary has focused on the impact that the Government’s handling of the economy has had on its popularity.
Negative comments have come from analysts interviewed by the media, opinions expressed on call-in programmes and in newspaper commentaries.
It is as though the general consensus of opinion in T&T is that the Government’s main responsibility is to ensure that the population is able to maintain the standard of living to which they have become accustomed.
That standard of living is based on the $62.8 billion the previous administration spent in the 2014 fiscal year—from October 1, 2013 to September 30, 2014.
The standard of living to which the T&T population has become accustomed was based on transfers and subsidies that totalled $34.6 billion in 2014, according to the 2016 Review of the Economy. That is 55 per cent of the total expenditure during the 2014 fiscal year.

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