Implementing Our Plan

Clarity on the roles of the different actors and stakeholders is paramount
for effective implementation of our economic masterplan.
Here's how we will get T&T Working Again

The Economic Strategy Council

We will establish an Economic Strategy Council in the Office of the Prime Minister, which will implement and manage flagship projects/programmes which are considered 'transformational' and instrumental to achieving key targets and deliverables of our economic masterplan. The Economic Strategy Council will have the highest possible political support directly from the Prime Minister, and it will be provided with the necessary resources to deliver the Plan, within budget and on time, working with a designated public executing agency.

UNC Masterplan Financing Our Plan

UNC Economic Masterplan Infrastructure

UNC Masterplan Recycling Renewable

UNC Economic Masterplan Biotech & Digital Economy

Economic Facts

MESSAGE FROM 

Kamla Persad-Bissessar

The 2020 General Elections comes at a defining moment in our nation’s history. The past few years under the PNM have resulted in our economy being mismanaged to near collapse and defined by worrying levels of joblessness among our citizens.

The task facing our new UNC Government will be to bring our economy back onto a sustainable growth path, restart the diversification process away from the dominant energy sector, and restore trust in government. This must be all done within a sustainable national plan that creates meaningful jobs, brings benefits to every citizen, and generates a sense of confidence that things will get better in our great nation.

Our National Economic Recovery and Diversification Masterplan 2020-2025 lays out a wide-ranging suite of policy initiatives, plans and programmes which we will pursue to get our people working again and working towards a better future.

We have identified and singled out 12 flagship projects spread across both Trinidad and Tobago. These flagship projects will mobilise and engage the private sector, both local and international, and their implementation will have large positive multiplier effects in kickstarting economic recovery, fostering growth and supporting diversification. We will create 50,000 new jobs by 2025.

Now, more than ever before, there is a need for greater political participation across the country. We need more women and men, of all ages and backgrounds, to come forward and engage in national service.

In order for us to truly chart a way forward and develop policies that would take us all into a brighter future, we need as many voices as possible to join the conversation and just as many hands to get the work done.

It is your time to step up and serve!

I am confident in the will and ability of our people to adapt to these challenges and seize the opportunities, as we have demonstrated in the past. I encourage you to join with me in building a more secure and sustainable economic future for Trinidad and Tobago.

Let’s get Trinidad and Tobago working again!

12 Prosperity Engines

Projects that engage the Private Sector to do more for our country 
A private sector driven economy in 12 major fields

 
 

National Economic Transformation Masterplan

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We have built our Plan on five interconnected guiding principles, 
which constitute the cornerstones of our strategy for recovery, 
sustainable growth and diversification of the Trinidad and Tobago economy

5 Guiding Principles

People-Centred Development

Pro-
Business

Resilience

Local 
Content

Sustainability

Getting People 
Back To Work

Allow The Private Sector To Drive Growth And Development

Deepen Economic Reforms But With A Human Face

Give People A Sense Of Ownership And Independence

Promoting Environmental Stewardship

HOW DO WE PLAN TO FUND
SUCH MASSIVE PROJECTS?

Through
Innovative Financing Strategies

National Food

Security
Fund

We will create a National Food Security fund to identify and invest in attractive assets in the global food and agriculture value chains.

National Infrastructure Fund

Strategic investments in public transport, green infrastructure including solar, water and wastewater facilities, climate resilient infrastructure, and green housing.

National Climate Trust Fund

We will repurpose the Green Fund into a National Climate Trust Fund which will finance new green technology start-ups and provide the financial backing we need to create a low-carbon economy.

Diaspora Bonds

Venture Capital / Angel Investing

We recognise the strong potential contribution of the diaspora to economic growth and development. The TT diaspora, who live mainly in the USA, Canada and the UK, save an estimated US$700 million or almost $5 billion a year.
We will further encourage and facilitate private sector participation by promoting venture capital/ angel investing networks and similar-type organizations.

12+

FLAGSHIP PROJECTS

12

SECTORS

50k

NEW JOBS BY 2025

5B

US $

NON ENERGY EXPORTS

Macroeconomic Context

Since the current government took office in September 2015,
it has failed to properly steer the country through a deep recession brought on by a downturn in the energy sector, 
the main engine of Trinidad and Tobago’s socio-economic development

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No Economic Turnaround

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Fiscal Insanity

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Credit Rating Downgrade

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Weak Monetary Policy

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Rising Job Losses

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Unsustainable Public Debt

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Hemorrhaging Foreign Reserves

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Deteriorating Global Performance

The First 90 Days

How we plan to immediately bring relief 
in our first 90 days

Central Bank

We will work with the Central Bank, the Ministry of Finance and the Central Statistical Office to determine the true condition of the state of the economy, the country’s public finances and capital projects and share that information with citizens.

Procurement Regulator

We will immediately provide the Office of the Procurement Regulator with its budgetary resources.

Divestment Plan

We will prepare a divestment plan and debt workout strategy for non-strategic, loss-making state enterprises.

Repeal Property Tax

We will repeal the property tax legislation.

Scrap Revenue Authority

We will scrap the proposed Revenue Authority.

Improved Taxes and VAT

We will prepare legislation for reducing personal income and corporate taxes and simplifying the VAT regime.

Heritage & Stabilisation Fund

We will start drafting legislation to fully integrate the Heritage and Stabilisation Fund (HSF) into a new fiscal responsibility framework.

Balanced Foreign Exchange Market

We will request the Ministry of Finance to work with the Central Bank to begin the transition to a more balanced foreign exchange market.

Per Ministry 5 Year Strategies

We will request each ministry to prepare a 5-year strategic plan within the framework of our economic masterplan.

Yearly Ministerial Agenda

We will request each minister to prepare a 1-year action agenda for consideration by and approval of Cabinet. Each ministerial action agenda, once approved, will be included in our next budget.

Transparent Budget Priorities

We will share with citizens our priorities for action during our first upcoming budgetary period.

Completion of Infrastrucutral Projects

We will formulate a project plan for completion of all infrastructural projects currently in train.

Resolve Caroni Workers & Cane Farmers Issues

We will formulate a project plan for completion of all infrastructural projects currently in train.

Agricultural Improvements

We will activate the Praedial Larceny Squad within the Trinidad and Tobago Police Service (TTPS), remove VAT on locally produced agriculture, meat and dairy products and raise import duties on foreign fruits, vegetables, meat and dairy products.

Steelpan Research & Development

We will mandate the University of Trinidad and Tobago (UTT) to start research and development on further innovation of the steel pan instrument, allowing local manufacturers to compete at the global level.

Economic Strategy Council

We will establish the Economic Strategy Council which will prepare an immediate action plan for implementing and managing flagship projects/programmes which are considered ‘transformational’ to our economic diversification thrust.

Global Economic Partnerships

We will initiate discussions on forging economic partnership agreements with the governments of Israel, the Netherlands and the Philippines.

Transport between T&T

We will put in place a fully-functioning sea-bridge and an equally reliable and dependable air bridge between Trinidad and Tobago.

Petrotrin Oil Refinery Recommencement

We will recommence operations at the Petrotrin oil refinery and bring back regular gas into production.

"Green Building" Pilot

We will begin a public ‘Green Building’ pilot with the Twin Towers (Ministry of Finance and Central Buildings) and the International Waterfront Centre.

Technology Mandate

We will mandate the National Institute for Higher Education Research Science and Technology (NIHERST) to conduct foresighting exercises to consider the adoption and use of biotechnology and digital technologies within specific industries.

National Recycling

We will immediately ban all single-use plastic straws and mandate Solid Waste Management Company Limited (SWMCOL) to develop a new “Chase Charlie Away” national recycling educational programme.

GATE priorities

We will begin the process of aligning GATE funding to economic priority areas and labour market needs.

Economic Development Plan Funds 

We will request both the Ministry of Finance and the Central Bank to initiate the process of creating a National Food Security Fund, a National Infrastructure Fund and a National Climate Trust Fund. These three innovative funds will mobilise financial resources for our economic development plan without raising public debt.

Diaspora Bonds

We will request both the Ministry of Finance and the Central Bank to prepare an action plan for issuing diaspora bonds to the Trinidad and Tobago diaspora community.

 

OUR STORY

Our History

On October 16, 1988, tens of thousands of citizens stood in the rain and mud in Aranguez and gave our founding leader, Mr Basdeo Panday, a mandate to form the United National Congress.

 

A few months later, the people gathered again, this time at the national Stadium in Port of Spain on April 30, 1989 – to formally launch our party.

 

The ideals of equality, justice and freedom became the guiding principles of the movement that Mr. Basdeo Panday founded.

 

The party that was created more than 30 years ago has become a national institution and is one of two political parties in Trinidad and Tobago to survive beyond two decades. Our resilience is due to our firm commitment to people and to democracy.

 

Today, the UNC has expanded and matured into an organisation that has set the standard for progressive policies and people centred development.


Our evolution is characterised by equity, inclusivity and participation.

 

The United National Congress has produced two prime ministers in our short lifetime and our two governments were dedicated to performance and delivery throughout Trinidad and Tobago.

 

Today, the party is led by the visionary Kamla Persad-Bissessar, who served as Prime Minister of the Republic of Trinidad and Tobago during the period 2010-2015.

 

Meet The Candidates

 
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