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‘Persons need to have more disposable income!’ – Richard C. de Castro

- believes that having extra disposable income will stimulate economic growth
Television commentator and talk show host Richard C. de Castro believes Government should seek to implement programmes which will allow for persons in the territory to have more disposable income after they would have cleared their monthly expenses. Photo: Youtube
“I am one of those people that believe that if you have a system where they have people with a little money in their pocket after they have already paid their bills it will make the economy more vibrant and I think that is probably the way we should be looking at it,” de Castro said. Photo: lotro.com
“I am one of those people that believe that if you have a system where they have people with a little money in their pocket after they have already paid their bills it will make the economy more vibrant and I think that is probably the way we should be looking at it,” de Castro said. Photo: lotro.com
ROAD TOWN, Tortola, VI – Television commentator and talk show host Richard C. de Castro believes Government should seek to implement programmes which will allow for persons in the territory to have more disposable income after they would have cleared their monthly expenses.

Mr de Castro was speaking on Speak Your Mind, which was aired on Saturday September 26, 2015 on JTV Channel 55.

He also questioned why it was that the minimum wage issue was taking so long to be finalised as it has been years since the last increase of the minimum wage. A minimum wage committee had been set up and should have already reported to the Government on their work and their recommendations but so far this has not happened.

Premier Dr the Honourable D. Orlando-Smith confirmed with this news site that there will be no increase in the minimum wage before NHI comes fully on stream in January 2016.

Dr Smith was positive that because of the timeframe left before the implementation of NHI the minimum wage committee would not be able to complete its work.

“Why is the minimum wage taking so long to come but the NHI is [already here]?” de Castro asked. “It has been 21 years since the minimum wage has been set at $4.00 an hour.”

He said that speaking about the minimum wage is also saying something about the economy of the Virgin Islands. He said too that it seems to be the trend to follow what former President of the United States Ronald Reagan did by introducing a number of policies when the individual has little or no money in his pocket.

"That has its pluses and its minuses. I think another model is to allow persons to have more disposable income in their pockets," he stated.

“I am one of those people that believe that if you have a system where they have people with a little money in their pocket after they have already paid their bills it will make the economy more vibrant and I think that is probably the way we should be looking at it,” he said.

“In small economies [like ours] there are some things that allow for great economic growth and some things that hinder economic growth. If persons have money left over after paying their bills then the other [sections of the economy] benefit, such as going to the theatre, taking a trip to Virgin Gorda…simple things that could really keep our local economy going,” he said.

“Any effort to do that I think would be an effort in the right direction and something we will be all happy about,” he said, noting that he was positive that it will happen.

11 Responses to “‘Persons need to have more disposable income!’ – Richard C. de Castro”

  • ccc (29/09/2015, 09:03) Like (64) Dislike (0) Reply
    Good points
  • Schups (29/09/2015, 09:27) Like (18) Dislike (8) Reply

    Persons need to spend wisely and stop wanting everything they see on the internet and TV. There are a few that have it hard no matter what, but most people crying about disposable income are doing $h*t with their money. Look at our roads for example, how many old cars do you see? Everyone driving around in a big brand new SUV and then eating crackers for dinner and josh bread for lunch. Just hush Courtney. Raising minimum wage alone isn't the answer because hardly anyone gets paid that $4 an hour anyway. Stop with the feel good nonsense and look at the real issues. If we care about people on the lower end we would call on Government to set prices on staples like milk, water, bread etc. We hear this cry about how bad things are in the BVI but yet the roadside food places always full, clubs always full, hair dressers always full, bars always full, everyone has the latest cell phone, new Benz, Rovers, BMW on the road daily. What is so hard about life in BVI? You kidding me?

    • MICKEY MOUSE (29/09/2015, 12:38) Like (6) Dislike (0) Reply
      How do you mean" hardly anyone get paid minimum wage". Let a survive be carried out ,and you will be shock.
      Some of the hotels, restaurant and business places for an increase in salary.They always say "you are getting what the government say I must pay you". I agreed some people want to eat steak with a chicken back salary;but there are people ,don't matter what they does can't make ends meet.
    • Hmm (29/09/2015, 16:36) Like (0) Dislike (1) Reply
      schups, i disagree with you. those are not the ones with minimum wage, driving what it sound like you can't afford. mind yours and let the ppl dem alone. Hate to hear ayo stories bout SUV's and brand name nonsense....
  • DON'T KNOW WHAT THEY WANT (29/09/2015, 10:17) Like (1) Dislike (0) Reply
    ALL THESE MEN SO VOTED FOR THE GOVERNMENT THAT IS IN POWER AND UP TO THIS DAY STILL ASKING THE SAME QUESTIONS.
  • wize up (29/09/2015, 11:35) Like (0) Dislike (0) Reply
    who to blame?
  • Tide (29/09/2015, 13:13) Like (3) Dislike (0) Reply
    Courtney, this is one time I really agree with your line of thinking. More disposable income in the population's pockets will stimulate the economy. When people have to keep re-counting their few dollars to purchase the basics, then they become reluctant to spend. In this day and age, t is comforting to know that one has a few dollars to one's name after the bills are paid.

  • wize up (29/09/2015, 14:04) Like (0) Dislike (2) Reply
    decastro need to run for political office!!!!!?????
  • bad boy (29/09/2015, 18:29) Like (2) Dislike (0) Reply
    RAISED THE TAX TREASHOLD
  • The Reaper (30/09/2015, 05:54) Like (0) Dislike (2) Reply
    Richard thinks that money grows on trees!
    Please come up with some ideas on how to make money if you so smart anyone can spend it.
    • wize up (30/09/2015, 11:36) Like (0) Dislike (0) Reply
      these guys are just talk and more talk and I tell you why, they have been attempting to run for political office for years without any result: this says to me not much people have any confidence in them running this territory:


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