Investor Presentaiton
Budget overview (continued)
K
Renewable energy was also briefly mentioned by the Minister when he advised that the Government is seeking
to implement renewable energy electric power in accordance with its commitments under the Paris Accord. It is
anticipated that 112 megawatts of solar power will be delivered to the electric grid and this project is expected
to be the largest solar project in the Caribbean. This initiative will allow for better use of the country's natural
gas where it can be diverted to the revenue earning petrochemical sector. The Government is also pursuing
development opportunities by introducing green petrochemicals through the substitution of hydrogen from the
natural gas reform process and also utilising steam which is currently wasted from an existing power station.
This steam will run a new turbine to produce electricity. This would be welcomed as T&T emits millions of
tonnes of carbon dioxide (Mt/CO2) every year and given the country's relatively small population, this places us
among the world leaders with respect to CO2 emissions per capita.
Agriculture
While our lack of food security is not a new issue, the profound implications of it were highlighted during the
pandemic. In addition to food security, our high food import bill has long been an area of concern, resulting in
not only an extensive outflow of foreign exchange but also being a sizable factor in inflation.
The Finance Minister delivered strong messages around the lack of efficacy of the extensive incentives, relief
from duties and other taxes and grants provided to the sector and in this regard, he noted that the development
and growth of the agricultural sector is a key priority for this Government.
What's Inside
Click to Navigate
Territory Leader's message
Tax Leader's thoughts
Budget overview
Budget fundamentals - 2021
Historical economic data
Energy and energy related tax regime
Corporation tax
Value Added Tax & other indirect taxation
Personal Income tax
Stamp Duty
Summary of other measures
Let's talk
About PwC
PwC | Trinidad and Tobago 2021 national budget
14View entire presentation