Prime Minister Kamla Persad-Bissessar has assured that there will be no new taxes in the 2010/2011 national budget to be delivered by Finance Minister Winston Dookeran on Wednesday.

As a bonus, she disclosed that the People's Partnership Government will move to lower land and building taxes and in doing so these taxes will not have to paid until 2011.

"Read my lips, no new taxes, including no property tax. But, what you will get is what was there before.

"What we've done, we've promised and we will keep that promise. The property tax will not be implemented, it will be repealed and so on but there must be something in place, so we will revert back to the lands and building taxes," said Persad-Bissessar.

She explained that Cabinet decided to lower the land and building taxes because the former PNM administration had revalued lands and the prices were increased.

"So even going back to the old land and building taxes people will be paying more, so what we decided to do is we'll lower the rates, so we're lowering the lands and building taxes to a lower rate so that's one and two for 2010 there will be no taxes, we are not going retroactive then, the year's almost done, so fiscal 2010 we will not be imposing the old regime, we will begin from 2011, so you have a moratorium for 2010 in a sense," said Persad-Bissessar.

She was speaking to the media at the Coco Reef hotel, Tobago where Government's four-day workshop came to a close.

There are high expectations of this year's national budget as it will be the first under the People's Partnership Government since winning the general election on May 24.

Persad-Bissessar said at the workshop, Government members were able to assess their performance over the past three months and look at what was achieved and what was not.

She said the People's Partnership made 34 pledges to the nation which increased to 40 to be fulfilled during their first 120 days.

She said  only seven promises remain to be kept and the relevant Ministers will be working assiduously with a deadline date of September 24 to do so.

"Right away in the room the Ministers who are responsible are on red alert now to deal with those issues, the seven that do not appear to be on track and so we have a couple days left before we reach our 120 days and we give our commitment to do our endeavour best to try and fulfil and keep our promises to the people of Trinidad and Tobago," said Persad-Bissessar.

"We also resolved that we will keep and try our very best to keep our promises," she assured.