Communications Minister Maxie Cuffie says the Government is not overly concerned about international reports on the state of the local economy.
He said instead the focus would be on reviving the economy and raising revenue.
Cuffie said this while speaking to the media after a tour of the Government Printery in Frederick Settlement, Caroni, yesterday.
“We are not unique in this situation.
“You’ll find many other countries have found themselves in a similar situation and it isn’t just energy-dependent countries,” Cuffie said, when asked whether the Government was concerned about the perception of T&T’s economy by the international community.
The state of T&T’s economy has received attention by foreign media such as the Associated Press, the Seattle Times, and several regional newspapers.
“Brazil, for instance, is not an energy-dependent country but it is also going through a similar economic stagnation so we understand that internationally the same thing is happening but we recognise that the important thing is that we put our house in order.
“If you listen to the messages from the Prime Minister and Minister of Finance, that is what we are doing.”
Cuffie said the Government was seeking to increase revenue. He said by the end of this month all ministries would report on how they were going to achieve the seven per cent cut in government expenditure that was mandated by the Prime Minister.
“We recognise it is going to take some sacrifice from all of us but so far and I can tell you from my interaction with staff at the Ministry of Communications, I see a willingness by Trinidadians and Tobagonians to make this work and to work hard for a new economy and I think we’ll be fine.”
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No roll-back on VAT on books
Cuffie also said the Government would not be making any special Value Added Tax (VAT) exemptions for books, despite several calls from the public.
Yesterday, University of the West Indies lecturer and historian Bridget Brereton called on the Government to review its decision to add VAT to literary publications, adding that too many university entrants still had problems reading.
“As somebody who likes reading I understand why Prof Brereton and I have seen letters in the newspaper from other people on the same matter but I also see the need to earn more revenue for the Government,” Cuffie said.
“When you start making exceptions, you say a reader, then you say computer enthusiasts, everybody will find some reason why they should be exempt and the only way this can work is if everyone plays a part in making the kind of sacrifice and contributing to the growth of the economy that will take us into a relative comfort.”
Cuffie said any exemptions would lead the country back to a situation where only 40 per cent of the items used were VAT listed. “The country can’t afford it.”