Gov’t presents $49 billion dollar budget package

The thrust of the first People’ Partnership budget is to Bridge Entrepreneurship and Development, Finance Minister Winston Dookeran has said. He just wrapped up a two-hour plus presentation at the Red House entitled "Facing the issues,Turning the Economy Around". Among the goodies  in the $49 billion expenditure package is the increase in old age pension, the planned set-up of a new Motor Vehicle Authority, a moratorium of land and building taxes for this year. The budget will run at a $7.7 billion deficit based on an oil price of US$65.