“A balanced approach.”
The Trinidad and Tobago Chamber of Industry and Commerce says this is what Government and State Entities need to consider and is urging them to move with caution and consideration for consumers, especially those in the lower income sector and the vulnerable.
In a press release, the Chamber is calling on Government and State Agencies to carefully review the impact of the recommendations being addressed including increased fuel prices, increased electricity rates, Property Tax, and overall inflation.
The Chamber acknowledges the necessity to increase revenue generation to continue with the national development plan, however it said these can have negative impacts on people if these costs are applied simultaneously.
Further, the Chamber highlights challenges with food security, foreign exchange, and crime, especially among local SMEs which continue to affect the way consumers and business owners conduct business.