Daily Brief - Tuesday 14th October, 2025

NEWS

Tunapuna Chamber welcomes ‘economic fairness’ budget

The Greater Tunapuna Chamber of Industry and Commerce (GTCIC) has welcomed the government’s focus on "economic fairness" and fiscal accountability in the 2026 national budget. The business lobby group, however, cautioned that small and medium-sized enterprises still face liquidity and competitiveness challenges that demand urgent, practical solutions. In a statement following Minister of Finance Davendranath Tancoo’s presentation, GTCIC president Ramon Gregorio said the budget sets a strong narrative of reform and accountability, particularly through measures aimed at tax modernisation, institutional renewal and digital transformation. Read more here

$5 million period poverty fund in Budget

As Finance Minister Davendranath Tancoo announced the establishment of a $5 million Women’s Fund to end period poverty, stakeholders said it was a giant leap for the advancement and protection of women. Speaking to Guardian Media, Meena Jadoonanan, from A Touch of Joy Foundation, said the initiative aligns with her organisation’s ongoing work. “This is not just a policy, it’s a step towards equality, dignity, and empowerment for girls and young women. Over the past five years, we have distributed close to 10,000 packs of feminine napkins, ensuring no one misses school or work because of their period. We stand ready to support and strengthen this national effort,” Jadoonanan said. Meanwhile, Dr Nadria Rambocas, of Crown Her TT, highlighted the need for oversight and wider access. Read more here

 

POLITICS

Tancoo's 'give & take' budget

The inaugural national budget of the UNC government and Finance Minister Davendranath Tancoo, could best be described as a "give and take" fiscal package. The government gave, in the sense that several announcements were made which saw an ease up for people including the price of super gasoline being reduced by a dollar per litre; government keeping its general election promise of a ten per cent wage increase for public servants; and the removal of VAT on several basic food items which was hit with this tax by the previous PNM government. The government took, in the sense that several announcements were made including that big business will have to pay more for its electricity consumption; to a three per cent increase in NIS contributions; an immediate increase in customs duties on rum, beer and cigarettes; and the introduction of a landlord surcharge. Read more here

PM hails fiscal package as ‘a Budget for the people’

Prime Minister Kamla Persad-Bissessar has described the 2026 National Budget as “a budget for the people,” defending her administration’s measures aimed at job creation, wage adjustments, and fuel price reductions. Addressing the media in the Rotunda of Parliament shortly after Finance Minister Davendranath Tancoo delivered his first Budget presentation yesterday, Persad-Bissessar said the Government was focused on rebuilding the economy and ensuring that ordinary citizens directly benefit from growth. “My Government made a simple promise, to protect the people and manage the economy responsibly. I’ve been listening when everybody was reading out their wishlist, ‘do not raise the price of gas’, we did better, we reduced the price of gas. And the second cry that was heard was ‘don’t raise the price of food’ and instead we tried to reduce the price of food.” Read more here

 

BUSINESS

CAL board making tough decisions, says Tancoo

Finance Minister Davendranath Tancoo says Caribbean Airlines’ board, led by Reyna Kowlessar, is making “hard decisions” to fix the national airline, which had become a “national liability” after years of mismanagement. And according to Tancoo, former finance minister Colm Imbert not only ignored the fiscal mismanagement at the airline, but actively fuelled it. Tancoo made the statement as he delivered the national budget yesterday. Read more here

 

REGIONAL

‘We have to invest in digitisation, AI to remain competitive’

Guyana could soon play a pivotal role in the global digital economy, as President Dr. Mohamed Irfaan Ali has touted plans to establish a hyper-scale data centre that could power Artificial Intelligence (AI) and digital services across the Caribbean. The President made these remarks on Saturday at the opening of the modern SOMA Hotel and Restaurant, which is located at Houston, East Bank Demerara (EBD). The President told the gathering that his government is actively advancing opportunities that would position Guyana with the technological evolution of the world, especially in the areas of AI, digitisation and data infrastructure. “There is no slowing down, by the grace of God, for us in the next 10 to 15 years, because what we are doing is placing the ideas and the opportunities that will be accelerated in the world by 2035, today,” he said. Read more here

 

INTERNATIONAL

Nato chief jokes about 'limping' Russian submarine

Nato chief Mark Rutte joked about the condition of Russia's naval fleet on Monday as Moscow denied one of its submarines had to surface because of technical problems. Russia's Black Sea Fleet said the diesel-powered submarine Novorossiysk had surfaced off France to comply with navigation rules in the English Channel, through which it was shadowed by a UK warship and helicopter. Dutch authorities had said on Saturday the submarine was under tow in the North Sea. "What a change from the 1984 Tom Clancy novel The Hunt for Red October. Today, it seems more like the hunt for the nearest mechanic," Rutte said in a speech in Slovenia, saying the "broken" vessel was "limping" home. Read more here

 

 

14th October 2025

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