Camillo Gonsalves will deliver his first budget address this year, as he has now been appointed Minister of Finance, a role that was held by his father, prime minister Dr.Ralph Gonsalves since 2001.
This comes as the Prime minister this week reshuffled his cabinet.
The younger Gonsalves will hold the new post in addition to his current portfolios of Economic Planning and Sustainable Development.
Minister Saboto Caesar will take up three of the portfolios that Camillo was relieved of, namely Industry, Labour and the Bureau of Standards.
These are in addition to his current portfolios of Agriculture, Forestry, Fisheries and Rural Transformation.
St. Clair Jimmy Prince will take up ministerial responsibilities for Information, adding to his current portfolios of Education, Reconciliation, and Ecclesiastical Affairs.
Responsibility for the Postal Service will go to Senator Julian Francis, who is Minister of Transport, Works, Urban Development and Local Government.