Motions

WHEREAS the World Economic Outlook published by the International Monetary Fund projected that the Trinidad and Tobago economy is stagnant;

AND WHEREAS this is at variance with the assertions of the Minister of Finance, the Prime Minister and other Government spokesmen on the subjects of growth and economic performance over the past two years;

AND WHEREAS the economic experience of the majority of citizens is one of distress and concern, the psychological state of workers is one of anxiety and fear and many among the middle class are challenged to meet their mortgage payments;

AND WHEREAS oil production is at its lowest level of production in decades;

AND WHEREAS the renegotiation of natural gas prices with producing companies has created new problems for the National Gas Company and the downstream sector and may affect national policy choices in the immediate future;

AND WHEREAS the local private sector is hesitant to invest in the local economy and small and medium business are struggling to stave off closure;

AND WHEREAS the depletion of foreign reserves is occurring at the net rate of 1.6 billion annually;

AND WHEREAS after three and a half years in office, the Government seems unable to manage the economy effectively, citizens of all dimensions are under stress and live with daily uncertainty and the country as a whole seems rudderless and directionless;

BE IT RESOLVED that this House condemn the Government for its recklessness and mismanagement of the finances and economy of Trinidad and Tobago.

(By the Member for Caroni Central)