Finance Minister Davendranath Tancoo has defended a wide range of fiscal and security reforms aimed at strengthening national institutions.
As the 2025 Finance Bill was read for a second time in the Lower House on Friday, Minister Tancoo outlined major fiscal, security, and administrative reforms aimed at stabilising the economy and strengthening national institutions.
“Mr Speaker, April 28th, the citizens of this country gave this government a clear mandate. They voted for responsible governance. They responded, voted for a more just, a more secure and a more prosperous Trinidad and Tobago. Mr. Speaker, it is no secret that when this government found itself in office supported by the people of this country, we found serious crises of a fiscal, financial, economic and social nature.”
Minister Tancoo said the Finance Bill seeks to operationalise key fiscal measures designed to modernise tax administration, support economic recovery, enhance border protection, and provide direct relief to citizens. He emphasised that despite the challenges the Government met upon assuming office, immediate corrective action was taken.
“Despite all of those challenges, Mr. Speaker, this government acted swiftly and decisively in our first 150 days. We moved to stabilise the country, restore public trust, and begin economic renewal.”
The Bill proposes amendments to 21 pieces of legislation, including updates to the Prime Minister’s Pension Act, the Gambling and Betting Act, the Immigration Act, the National Lotteries Act, the Statistics Act, the National Insurance Act, and multiple road traffic laws.
Among the stronger penalties introduced are tougher measures for illegal lottery operations and stricter sanctions under the Tobacco Control Act, with the Minister stressing that these reforms are critical to public safety and national development.
“Mr. Speaker, these amendments are intended to protect the integrity of the online lottery operations, deter illegal activity, prevent fraud, protect citizens, and ensure that revenues due to the people of Trinidad and Tobago are properly safeguarded.”
Minister Tancoo said the Government remains focused on accountability, transparency, and long-term sustainability as the Finance Bill continues its parliamentary journey.