Our economy is in free fall yet the Premier is silent-Hon. Fraser
He accused Premier Smith of remaining silent and waiting for a miracle fix of the economical woes of the Territory while people are hurting.
“Our economy is in free fall and has been so for a while, and is now depreciating at so alarming a rate, that it is unsettling, the former Communications and Works Minister said while adding that this is an undeniable truth that cannot be hidden by silence.
“Since the general elections of November 2011 I have been observing a frightening trend of company closures, company downsizing, job redundancies, employee layoffs, and bank foreclosures, that are unprecedented,” Hon Fraser said.
The veteran legislator stated that “it all started when this [NDP] Administration decided to take back half of its Civil Servants increments, which were already earned for the year 2011.”
Then came the closure of Columbian Emeralds, and Little Switzerland; two major multinational jewelers no tourism destination like ours could ill-afford to lose, according to the fourth term member of Parliament.
Just recently another spate of layoffs hit the telecomm sector, with CCT discharging of 16 employees, some of whom had been with the company for 20 years. Then LIME let go of another 2, one of whom was a longtime senior executive.
Our tourism industry was to take yet another hit. Last week the Moorings laid off 16 employees, which included 5 upper managers, with speculation of an even larger number to follow.
This all happened on the heels of an already harrowing assault on tourism when American Eagle decided to discontinue serving the Territory on April 1 of this year. To put things in perspective, American Eagle on its best days flew upwards of 12 flights a day with up to 64 seats,and flew potentially 768 passengers a day. American Eagle had what could not be replicated, in its partnership with American Airlines, direct connection to the US market, and by extension the rest of the world through its One World Alliance brand, the statement reads.
“In spite of the presence of a huge majority expatriate workforce, it is understood that an overwhelming majority of persons affected by lay–offs are Belongers. But, either way, the news for Virgin Islanders is equally bad. Loss of expatriates means loss of rent, vacant apartments and eventual foreclosures by banks. This is a sad reality of the industry many locals have built their lives around,” the Opposition Member said.
Hon. Fraser described the conditions as “misery”, and accused Premier Smith of inflicting more pain of his own on those already suffering by doubling the fees on most essential government services such as Entry Visas, Visa Waivers, Belonger's Cards, Passports, Work Permits, Police Records, and more; together with the imposition of a 200% increase on passenger tax for people going to St. Thomas, seemingly intended to discourage residents from going to St. Thomas to shop.
Premier hiding the truth- Hon. Fraser
Hon. Fraser went on to say in his statement that “in what I will consider either incompetence or a deliberate and willful decision to keep the truth hidden, the Premier cannot present the people of the Virgin Islands a true and accurate picture of the Territory's unemployment, nor can he provide us with the economy's rate of growth or contraction.”
The statement reads, “Here we are but a tiny economy of less than $1 billion, unable to provide statistics, while the world's greatest economy of over $16 trillion can produce on a monthly basis with consistency the number of jobs created, together with its rate of unemployment. Shamefully our Premier can't,” the Third District Representative stated.
The Virgin Islands Party Opposition Member said that his concern and position on the matter of the economy are not new. “They were first reported in the House of Assembly last October when I called upon the Premier to inject money into the economy, and abandon the British model of austerity which he has adopted, and I don't support.”
The former Minister under the Ralph T. O’Neal Administration said “this difference of opinion between the Premier and myself on the state of the Territory's economy is one worth being put before the court of public opinion, for it is obvious that both of us feel strong about our views.”
Leader of the Opposition agrees with Fraser
In an exclusive interview with this news site on 7 June, 2013 Leader of the Opposition Honourable Ralph T. O’Neal OBE, joined the growing chorus over the debate on the Virgin Islands economy and has disputed the claim made by the National Democratic Party Leader and Premier Dr. the Honourable D. Orlando Smith that the Virgin Islands economy is ‘robust’ and getting better.
Hon. O'Neal told this news site that the Dr. Smith Administration must bring to the people the facts and statistics to show that the economy is ‘robust’ and getting better.
“Just saying that this is better and that is up and you don't have any figures is fooling the people… the Development Planning Unit is supposed to be able to give those figures," said Hon. O'Neal.
The legislator, who has represented the Ninth District since 1975, told this news site that the summer is approaching which means the slow season for the hotels industry. He explained that this will result in many people been laid off and will further affect the economy. Hon. O’Neal also said that there was not much happening in the construction industry, outside of a project or two at Oil Nut Bay and Scrub Island.
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33 Responses to “Our economy is in free fall yet the Premier is silent-Hon. Fraser”
Use this time to upgrade infrastructure, fix things that need fixing, but please don't be alarmist in your declarations, Fraser, It is not helpful. Especially when you don't smell like a flower yourself when it comes to communication and spending money without permission from the people.
What you people fail to realized that the NDP inherit a cricis and the whole world is feeling it. You all behaving like this can be fix over night. We dont export anything all we do is import and we have to depend on tourism and off shore banking. If the other countries that people who we expect to visit our shores is not coming what would think will happen. Plus everybody out there blaming the Government and what are you doing to help with the sitiuation. Nothing. Just finding faults. Some of you out there talking about people laying off of jobs but how no one is talking about the work permits that is goingin to labour for those same jobs and they are not the government. Check out most of the local businesses who they have working? People on workpermits. So the ttime you all out there bashing the goverment you all should try to help instead of running your mouth
Seize thwe time Fraser. These fees are essential for the growing of the economy. dont you see where Doc is going with this.
He was in power when the recesscion began. What austerity measures did he set in place to delay or prevent the free fall? I forgot he was building a million dollar wall and reclaiming land. I guess he did not hear when your neighbors house is on fire throw water on yours. Now the recession is in full force he wants to criticize the other government's action. What did you leave them to work with?
Perhaps had your government done the right thing and put the proper measures in place the BVI would be in a better place. Rhetoric and grandstanding is not what is required. If you eve get back in power remember these word and let them guide your actions. "May all who comes behind me find me faithfull"
Get out of yourself and be sincere it is not a out you it is about this country which is being hindered by its own people.i
not much tourist from the U.S.A. because AA pull out earlier this year, Liat and B.V.I. air carry mainly regional tourist so most of the USA tourist have ferry in via ST.Thomas and the increase in ferry service from ST.Thomas hmm.... so what are we doing, fighting with our main source of income, like the cart comes before the horse since the main carrier pull out in April we should have a stimulus package to target the regional Travellers while we try to find a solution to get back the big spenders international tourist
You really fooling yourself.