The Tobago House of Assembly is placing the liquidation of liabilities as a priority for the 2025–2026 fiscal period. After a two-day budget retreat, a media briefing was held at the Mt Irvine Bay Resort.
The post-budget retreat, led by Chief Secretary Farley Augustine, focused on the fiscal 2025–2026 budget allocations and the Tobago House of Assembly’s 5% share of the national budget.
THA Secretary of Finance, Petal-Ann Roberts, revealed that a structured plan has been established to liquidate the Tobago House of Assembly’s liabilities for the new fiscal period.
“I’m starting with the liabilities to contractors. Some of them are prior to 2021 and there are some development projects that this administration has executed. We also have those liabilities which we intend to liquidate in the same vein. Liabilities relating to gratuities, increments, sick leave, bonus, overtime, those are also a top priority.”
She said the matter of THA gratuity payments is a major one.
“One Division has over $10 million outstanding for gratuity and we have already started to release funding to liquidate. We are collecting the data from the Divisions as to what this total liability is in terms of what is ready and what will be ready by the end of fiscal 2026.”
The THA’s Tobago Festivals Commission Ltd has also been under fire on several occasions regarding outstanding payments to service providers and performers. Secretary Roberts noted this is a matter of concern for her, and the THA’s Executive will be addressing this.
“We are also placing TFCL, Tobago Festivals Commission Limited’s liabilities as top priorities to be liquidated and I will also say that we have started to give Festivals those releases as of October and November.”
A revised budget will be presented during an upcoming sitting of the House, which will detail all projects and their expected impacts.