Sports get $600M for fiscal 2025
The Ministry of Finance has allocated 603,127,500 million for the Ministry of Sport and Community Development for the fiscal year 2025. It is a decrease from last year’s allocation of $763,603,000 million.
The details were not directly presented by the Finance Minister Colm Imbert but were confirmed by the ministry’s Draft Estimates of Expenditure for the Financial Year on its website.
Imbert did not verbally give numbers for sport’s upcoming year, however, he says from January 1, 2025 persons who take part in sporting activities will be boosted by the removal of taxes and duties on sporting equipment.
This was stated by Minister Imbert when he made his record-tenth consecutive National Budget presentation for the fiscal year 2025 at the Red House in Port-of-Spain, Monday which spanned five hours and ten minutes, the longest in the history of its presentations.
During his presentation on sports, Minister Imbert said: “Those of us who take part in sporting activities will know how expensive sporting gear can be.
“Accordingly, in keeping with our policy to encourage healthy lifestyles, we shall in 2025 exempt all sporting equipment from taxes and duty, with the exception of clothing.
“This measure will take effect from January 1, 2025, and is estimated to cost $20 million.”
He also noted that the government will continue to assist sporting athletes via the Elite Athlete Assistance Programme which offers financial support to elite athletes and their governing bodies.
The programme offers the following benefits:
– Athletes ranked in the World’s Top 10 positions qualify for the current maximum sum allocation of $250,000;
– Athletes ranked in the World’s Top 11-40 positions can receive up to $187,500; and
– Athletes who medal in specific Games and Championships can receive, on a case-by-case basis, up to $75,000.
He noted that the funding is provided for athletes who undergo a four-year cycle of preparation and training leading up to an Olympic year.
With respect to the young and upcoming athletes, Minister Imbert noted that the National Secondary Schools’ Track & Field Championships serve as a platform for identifying and nurturing young athletic talent.
He said, “This has benefited 600 student-athletes from across the nation and under the ‘I Choose Sport’ Programme, we have introduced secondary school students to the world of sports, and we continue to encourage active participation.
This programme, he boasted has successfully engaged approximately 2,000 students across 52 schools to date.
During his presentation, Minister Imbert also noted that the government has continuously promoted participation in sports at all levels and extended strong support for our national athletes and teams.
He said, “Furthermore, we have made significant investment into the maintenance of our sporting infrastructure and facilities which has aided our efforts in successfully hosting local, regional and international sporting events.
“In June 2024, T&T and the United States successfully jointly hosted the International Cricket Council (ICC) T20 Cricket World Cup, a prestigious international tournament.
“The event showcased the country’s cricketing prowess and economic potential, generating significant revenue through tourism and job creation.
“This was supported by upgrade works to the Brian Lara Cricket Academy and on a continuous basis, the Academy is being maintained and prepared to host international cricket matches with improved facilities for players, media and spectators.”
Looking ahead, he said, “The Jean Pierre Complex upgrade commenced in September 2024 with works covered under this major overhaul to include the refurbishment of all stands, indoor courts, media booths, offices, washrooms and auxiliary buildings. Significant upgrades to mechanical, electrical and plumbing infrastructure will also be undertaken with an estimated time for the completion of the project being eight months at a budget of $36 million.”
Minister also noted that this country will host the 2025 Carifta Games, an event anticipated to attract 840 athletes and officials, confirming our country’s position as a regional sports leader, stimulating tourism and job creation, as well as motivating a new generation of athletes.
“To enhance our position as a premier sports-tourism destination we have invested in the modernisation of national sporting facilities, including rehabilitation of the main field at the Ato Boldon Stadium, main field and warm-up track replacement at the Hasely Crawford Stadium, refurbishment of the Jean Pierre Complex and remedial works to the Dwight Yorke Stadium at a total cost of approximately $105 million.
Among the venues that sporting facilities that have been refurbished or built are:
Diego Martin Sports Complex
Laventille Community Swimming Pool
Moruga Multipurpose Youth and Sport Facility
Morvant Community Swimming Pool
Maloney Community Swimming Pool
Mahaica Sports Complex
Skinner Park
D’Abadie/Malabar Community Swimming Pool
Dwight Yorke Stadium Refurbishment
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