VI must 'implement measures to lessen shock of rising costs'– Hon Malone
Hon Malone made the comment during a telephone interview with the host of The Big Story, Ms Cathy O. Richards, on July 6, 2022, when he said amidst struggles being faced by the territory, the local economy is not getting any better as it relates to the prices of commodities and other essentials.
“The world economy is in an uproar, inflation is at a high. I cannot categorically say it is at the highest it has ever been, but the fact is, [when] you look at the pumps, see where the prices are, look at interest rates, see how they [are] moving, look at the particular cost of transportation, see what is happening there, the cost of anything is up now!” he said.
Hon Malone detailed that the conflict between Ukraine and Russia is also having adverse effects on the price of wheat on the global market, which in turn is affecting local supply, “it's having an effect on our store shelves,” he underscored.
Players refusing to do business - Hon Malone
The At Large Member told viewers that these prices are also affecting the cost of transportation, including instances where some persons are refusing to do business because it is not profitable due to the cost of fuel.
“So we have to look and be mindful that we are in fact going to be affected by all of this, and we have to put measures in place that will lessen the shock of this,” he added.
Hon Malone said that as leaders and as a people in the VI, persons have to be mindful as they focus on the increase in prices.
The cost of fuel has been a major economic issue, sparking conversations and several commentators and industry leaders have called for the government to cushion the impacts.
Addressing the issue on his show, Honestly Speaking, on March 8, 2022, Mr Claude O. Skelton-Cline said there are fuel companies on the island with the ability to store millions of gallons of fuel however, these same companies continuously change their prices to reflect the market price.
Another outcry from the public has been the drastic increase in fuel surcharge by the BVI Electricity Corporation.
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15 Responses to “VI must 'implement measures to lessen shock of rising costs'– Hon Malone”
my goodness talk shows appear to be the big thing now but when the talking and talking comes to an end and/ you as a resident or citizen not one thing changes for us: your circumstances remain the same
we need politicians who have the best interests for all who calls this place home mr politician try stop the radio presentations and get your broom and sweep the place
In economic planning , this country should have plans on their books for economic shocks, that will affect people . They will start to show symptoms of depression, stress and emotional shocks.
How does a country prepare for financial shocks, effects of war, and diseases? as one cannot wait until the post trauma shock disorder is upon the land to start planning. Money has to be reserved, Citizen has to be educated to find solution to their problems, government and organizations has to be in readiness to assist.
The affects of war will give a dominion effect and countries will feel its effects by high prices, shortage of items, and denied access to certain groups of people.
The experience of covid shows that there were a scramble of who was in charge of what, and sometimes it seems as though we are still in the woods. I believe natural food had to be one solutions, but the people were tear up the roadside for blue vervaine without seeking advice from their practitioners.
One solution I would offer is to get the people to grow what they eat, start offering seedlings to the people.
The dummies in the fake news and the local politicians blame everything on Russia. Trust me, check American so called leadership!
Carvin you speaking good we voting you back
And the out-of-turn statements by your former boss against Russia (which he should have left up to the UK) put us on the list of Russia's enemies. When the first nuclear bomb hits us, be sure to go under the kitchen table and cover your eyes.
Inflation benefits the rich. The currency is valued less, if you pay off previous loans with inflated money when the value increases again, it's like you bought everything at a discount and made a profit.
Economies all around the world are intentionally being destroyed because the goal is to push as many people into poverty to become slaves with no hope of climbing out. I keep telling people this but they think it's a conspiracy. The world literally just spent two years not working. You have to be loco to think things were going to go back to normal.
If the government want to help people, at least food wise, they would be promoting local products as much as possible. Only buy what you need, eat what you have even if you don't like it. If you have a little plot of dirt in your yard, plant something, anything to help you get by. Hard times are ahead, people.
This dude talking about hardship in the bvi yet they use up our social security money to build guess house up Joe's hill,...there is reason why you always have to read from a paper when giving statements or holding a conference because if you don't you might spit the wrong words.