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5 Guiding Principles

UNC Plan 2020

Five (5) Guiding Principles

We have built our Plan on five (5) interconnected guiding principles, which constitute the cornerstones of our strategy for recovery, sustainable growth and diversification of the Trinidad and Tobago economy.

PRINCIPLE 1:

People-Centred Development - Getting People Back To Work

We continue to be guided by the principle that the highest mission of any society is the development of its citizens. Our UNC Government remains dedicated to getting people back to work, safeguarding social equity and justice and protecting people’s rights. We commit to supporting lifelong learning, skills building and giving full rein to the enthusiasm, initiative and creativity of all our citizens.

PRINCIPLE 2:

Pro-Business - Allow The Private Sector To Drive Growth And Development

We will follow a pro-business strategy, which gives the private sector the opportunity to be the main driver of economic growth, diversification and sustainable development. Our UNC Government will focus on improving the ease of doing business, tackling crime, removing obstacles to business growth and expansion, and attracting local and foreign investments by providing an enabling environment and necessary incentives.

PRINCIPLE 3:

Resilience - Deepen Economic Reforms But With A Human Face

Deepening economic reforms with a human face is a powerful force for sustainable development. Our UNC Government will focus on improving the economy’s resilience to future shocks, bringing the budget into balance, stabilising high public debt, protecting our external position and safeguarding financial stability. Reducing poverty, closing the income inequality gap between rich and poor, and providing a safety net for the poor and vulnerable will form an important part of our economic reform agenda. This will lead to more economic opportunities for our people and a better quality of life for all.

PRINCIPLE 4:

Local Content - Give People A Sense Of Ownership And Independence

Local content has the potential to stimulate broad-based economic development, which will give a sense of ownership and independence to everyone in our society. All projects will include opportunities to maximise local content and local value added through jobs, skills training, procurement of goods and services and technology transfer. Reducing our high propensity to import will be addressed through a meaningful national local content policy which focuses on our existing agriculture and manufacturing sectors.

PRINCIPLE 5:

Sustainability – Promoting Environmental Stewardship

Trinidad and Tobago is blessed with abundant natural resources, from forests and wildlife to rivers and wetlands to coastal and marine ecosystems. This natural environment is the foundation of our personal well-being and, by extension, our economy. We must promote greater environmental stewardship, making more responsible use of renewable resources and ensuring water, food and energy security. Our children and their children must inherit a better world than us.

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