Cost of living is getting 'astronomical'- Hon Lorna G. Smith OBE
Cost of living getting 'astronomical'
During a town hall meeting for the 4th District at Elmore Stoutt High School on Wednesday, March 4, 2026, hosted by Honourable Luce D. Hodge-Smith (R4), Hon Smith highlighted the alarming rise in living costs. She noted that while some businesses have control over the pricing of certain goods, many factors, such as fluctuating fuel prices, are beyond their influence.
"We know that the cost of living is getting to be astronomical. There is some control that businesses have over the price of goods. In other circumstances, they have no control, because when you look at what is happening, now, for instance, in terms of the price of fuel. That alone drives up the cost of goods," she emphasised.
Price stability for certain goods
The Junior Minister added that the government will soon announce measures aimed at stabilising the prices of essential goods and food items.
She said, "We have a set of goods, basic goods, you know, whether it's chicken, fish, children's goods, peas, rice, and so on, that we hope, in a couple of months, to be able to make an announcement in terms of the stability of the price of those goods."
Hon Smith expressed her gratitude to supermarkets and key stakeholders who have engaged in discussions with the government to make the basket of goods initiative a reality.
"So that is something we're working on, with Customs, and the Ministry of Finance, as well as with the supermarkets, and they have been very cooperative, and I'm very grateful to them for the cooperation that they have given to us, so far."
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26 Responses to “Cost of living is getting 'astronomical'- Hon Lorna G. Smith OBE”
If only Hon. Smith knew stake holders in those sectors, then it would be addressed. Can’t shake the table too much, don’t want to disrupt the family business.
But let’s focus on the price of oil and the Iran conflict. That should deflect from the horrible governing in the BVI.
Not True, Hon. Lorna (not in our corner) Smith, but truly you that had recommended an increase from $6.00 minimum wages to $8.50 after more than 7 years, and was fired by the Premier, but was halfed by our Premier from $2.50 to $1. 25, and later rehired by the Premier.
The people of the British Virgin Islands don't need and hands out like beggers basket. The need to be treated as your employer that you political leaders come to begging before every general elections.
Yes we are facing a humongous world crisis because of greedy practices worldwide., but what we need more is better financial management of our finances even before now, now, and in the future.
Unfortunately for us, though, this will not happen until first our present and future political leaders are force constitutionally to give strict accountability for every dollar misrepresented of our critically needed finances.
We know that this is unlikely to happen, but that is the mark we should for, if good governance wiil be experienced by the citizens of the British Virgin Islands
same party that voted for greed bill and gave themselves a pay raise on the max end on the new scale then turn around and said 7.50 for the black slaves?
hmmmm
An increased in the tax from 10k to 15k, minimum wages goes to 10:50 per hour and ensure the following-
1.Gas price stabilized during this year
2. Have the festival as it, don’t try to break things that are not broken and then try to find results.leave it as it is.
3.Support single moms both financially and emotionally give them free therapy.Give them allowances or food basket with pampers and milk. Help them,to help themselves with their own small business.
She has elegance and this royal posture as a queen, plus there is intelligence to it. ❤️❤️❤️❤️❤️❤️❤️????
Even as a single person, paying 1,200 - 2,000 per month for a newly-built apartment is not feasible for some.
A small family can hardly afford a 2 bedroom apartment in a decent building and neighborhood.
Help!!!
Government can increase the salary range exempted from taxes, lower payroll taxes, lower import duty hoping that merchants will pass on the lower cost to consumers, etc. There is huge cry for price control. Nonetheless, in a capitalist society typically don’t set prices. However, price control results in shortages, quality of goods purchase.Government can raise the minimum wage. Nonetheless, that action will be an expense on employers which will result in increased cost. Government can try to persuade merchants to lower cost of goods and services, lowering profit margin. But good luck with that. True competition can lower prices. Merchants selling similar products can purchase in bulk from suppliers getting a lower cost which can be passed on to consumers. Good luck with that too.
talk talk talk, you can care-less.