Gov'ts also to blame for VI price increases - Commentators
The commentators expressed this view on the Umoja radio show aired on June 6, 2013.
Wheatley noted that there were a number of creative ways of lowering prices in the Territory and highlighted a suggestion made by First District Representative Hon. Andrew A. Fahie recently about subsidising shipping.
He noted that there is an interesting ongoing debate about contract splitting and petty contracts within the Territory as well. “All of this is about economics,” Wheatley said in reference to the tendering and bidding processes.
“If we are really honest, I think that from this point, all the way back years… in some cases we are paying outrageous sums of money for work that is being done,” he added.
He also felt that for some reason, government has no put sufficient controls in place to regulate the rising cost of production of goods and construction in the Territory.
Wheatley said stories have been bandied about over the years regarding contracts being given to supporters in order for contributions to be made at elections time.
“All these things are seen as contributing to the decreasing economic activity,” Smith stated.
“Who you give the contract to is important,” Wheatley reasoned while explaining that hospital contracts given to overseas companies led to monies not being circulated within the Territory due to the lack of payroll taxes.
“Those types of things contribute to money not circulating in your economy,” he added.
Smith said based on his investigations, major contributors to decreased economic activity also included the taking of large sums of money out of the economy as dictated by the UK and paying for old bills.
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