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The Finance Minister Addresses Falling Oil Prices

by | Jan 23, 2015

Oil-Price-FallIn light of declining oil prices, the Employers Consultative Association of Trinidad and Tobago (ECA) has sought to address the situation from a business perspective.

The ECA did so by addressing implications and possible solutions for the business community within the context of the current state of the economy.

ECA’s Breakfast Meeting entitled “The Business Implications of Falling Oil Prices,” was attended by representatives from a cross-section of businesses and industries at the Radisson Hotel.

Finance and Economy Minister Larry Howai was the feature speaker from a panel that included Senior Lecturer in the Department of Economics at UWI Dr. Roger Hosein, Director of the ILO Decent Work Team Dr. Giovanni di Cola and Team Leader of HR Solutions at the Employers Solution Centre LaToya Griffith.

In his remarks, the Minister addressed the Government’s plan to “strengthen tax administration and collection at the BIR as well as accelerate refunds on past VAT arrears to the business community so that they can maintain their operational efficiency and profit levels during this time.”

This was one of several initiatives the Minster outlined as the Government attempts to “implement revenue and expenditure policies to compensate for the decline in revenues from the energy sector.”

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