HIGHLIGHTS OF THE BUDGET STATEMENT 2014PRESENTED BY: MINISTER OF FINANCE AND THE ECONOMY, SEN. THE HON. LARRY HOWAI

Monday 9th September, 2013

BIG TICKET ITEMS — % of Budget $61.398 Billion

SOME ALLOCATIONS

• Inflation down to 5.6 %• Unemployment down to 5 %

• Direct investment up to US$2.5 B • Heritage and Stabilization Fund US$5 B

• Oil revenue: $23.3 B• Non-oil revenue: $32.6 B= Total revenue: $55 B

• Expenditure: $61.3 B• DEFICIT reduction: from $7.669B to $6.357B• DEFICIT reduction, as % of GDP: from 4.6% to 3.6%

EducationNational Security

Health HousingWorks

The direct effect

Health card — as a means to access, monitor and improve health services.

Construction of an overpass at Kay Donna and a by-pass at Valencia.

Electronic Health Cards

Customs Duty up by 25% from October 1, 2013 on new and foreign- used cars over 2,499 CC (excluding T-vehicles and maxi-taxis).

Increased Car Duty

Highway Construction

HEALTH

T&TCARD

24%16% 13% 7%

6%

Education and Training:$9.820 billion

National Security: $6.497 billion

Health: $5.096 billion

Housing: $2.708 billion

Local Government: $2.448 billion

Works and Infrastructure: $2.431 billion

Public Utilities: $3.786 billion

Transport: $2.324 billion

Agriculture: $1.324 billion

Tobago: $3.309 billion

National Oncology Centre

Jet Blue flights from US to Trinidad, and Apollo Airlines flights from Europe to Tobago.

New Airlines coming

Motor Accident Fund to be established, using 6% tax on Car Insurance Premiums to compensate victims of uninsured drivers.

Accident Fund

$500, 000 fine for illegal fuel bunkering and quarrying.

Increased fines

100% Tax Allowance up to $40,000 for CNG conversion from January 2014.

CNG Conversion

100% increase in fines for littering:

from $2,000 to $4,000

Litter fine hiked

The Government of the Republic of Trinidad and Tobago

Construction of the new OncologyCentre begins September 2013.