ECONOMIC STIMULUS: PREMIER MONITORS POTENTIALITY

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Last week at his weekly COVID-19 press conference the Premier in response to a question about offering financial ease to businesses affected by the virus said that it was not something that was being proposed as yet. This week once more the question was put to the BVI Leader who once again said that it is not something that Government is looking at but noted that he is not making any commitment.

The question of economic stimulus for the Territory comes as countries around the world face the reality of the economic havoc the Coronavirus poses and were opting to offer some form of supplement to vulnerable segments of their economies to ensure that things don’t plunge into further disaster.

Noting the various measures of precautions and effects this may have on industry and commerce in the BVI the Premier was once again asked about a stimulus package. To which he noted that this is one decision that will not receive a knee-jerk response.

While also explaining that this is not going to be a scenario of blind following and duplication Hon. Fahie stated: “It looks sexy to run come out with economic packages. But we’re seeing that most countries and territories that run and come with their economic packages, their state of affairs went worse, and they had to turn back on what they came up with.”

The Premier explained that Government is planning to offer stimulus and emphasized that this current stance should not be interpreted to mean otherwise, “Those stimulus packages are going to come. I can’t promise you this week because we are still monitoring certain areas to make sure that when we come, we can have as clear a picture as possible,”  he said.

“We are trying to do a lot of monitoring and a lot discussions. We have a lot of things on the drawing board, but one of the things that we did not hesitate on was making sure the funding was available to be proactive to try to prevent COVID-19,” the BVI Leader added.

Meanwhile Hon. Fahie said that efforts are being made to come up with the right decision. “One of the things that we will be bringing out for sure is: those who have been employed but now unemployed as a result of COVID-19 can now also register at the Department of Work Force and Labour.”

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