Has the Premier flip-flopped on his ‘robust’ economy claim?
This comes on the heels of Premier Smith telling the people in Parliament [House of Assembly] a few months ago that the economy was robust and there were no statistics to prove otherwise.
However, his “robust” economy claim was slammed by both Opposition Leader Honourable Ralph T. O’Neal OBE, who challenged Premier Smith to bring the statistics to back up his statement, and Honourable Julian Fraser RA. Honourable Fraser has emerged as the Opposition’s spokesman on the Economy and Financial matters and cited specific examples of where the economy has been failing the people, such as the many layoffs and business closures.
Has Dr. Smith made a 360 on the economy?
Calling it a Virgin Islands Territory Update, many were surprised when Dr. Smith told residents of the Virgin Islands that “the reality is that the BVI is facing tough times not unlike what have been felt in much of the global economy.” This is an extremely different position from just a month ago when he claimed that the economy was robust and things were getting better.
The Premier, in his address, came around to the position of the Opposition Virgin Islands Party (VIP) when he admitted, “Given the continuing world recession and the demands on the public purse….”
In finally bringing forward some statistics as were demanded by the Leader of the Opposition, Premier Smith, who is also the Minister of Finance, said “the main problems relate to a slowdown or dip in revenue growth and an increase in infrastructural demands. Gross Domestic Product fell slightly from an estimated nine hundred and fifteen million dollars (US $915M) to an estimated nine hundred and nine million dollars (US $909M), a reduction of a mere zero point seven percent (0.7%) from 2011 to 2012.”
The Premier also stated that certain sectors of the economy, like the job markets, “are showing some slow down.”
These statistics yet again clearly contradict Premier Smith’s ‘robust economy’ claims.
In his address, the Premier told the people of the Virgin Islands (VI) that “with shrinking revenue and without increasing our liability and breaching the borrowing guidelines, my government has to find a way to inject the level of funding into the economy that will ensure that infrastructural needs and social infrastructure projects continue to be funded. To do otherwise would further, negatively impact the economy.” This is something he was told by Hon. Fraser both in the House of Assembly and in a recent statement on the economy.
In another change of his position about a robust economy, Premier Smith took pains to face reality in telling the people this evening in his public address that, “today my Government is indeed left with this difficult task of putting this economy back on track. But we are up to it! As difficult as things may be in the BVI now, I can assure you that without careful management they could get a lot worse.”
In coming over to the Opposition Virgin Islands Party's position on the economy, Premier Smith was forced to confess, “we always get a reality check in this season of graduations when we have hundreds of young people coming into the market place with shrinking job opportunities. Couple this with the growing number of unemployed persons and it creates concerns.”
The Leader of the National Democratic Party further went on to change his position on the Virgin Islands economy by bringing facts to the table. “Our statistics indicate our employment rate has being in steady decline for some time now, from 18,473 persons in 2010 to 18,238 persons in 2011 to the current 17,797 persons in 2012. This indicates a decrease in employment of one-point-three percent (1.3%) between 2010 and 2011 and a two-point-four percent (2.4%) decrease between 2011 and 2012.”
Laundry List of Government projects
Sounding like he was on the campaign trail in his address, the Leader of Government Business, listed a series of projects such as the New Peebles Hospital, sewerage works in Road Town and East End/Long Look, Senior Citizens Home, the new Airport Expansion and the controversial Cruise Pier Project that his administration will pursue.
However, he failed in his address to say specifically how they will help improve the economy in both the short and long term and the lives of the ordinary man on the streets.
Public reactions
While most residents seem not to have heard the address that came on a Friday evening, we were able to find and interview two persons out of the seven we spoke to who heard the speech.
A young man referring to himself as Joe Joes said, “at least he was man enough to admit he was way off base with the robust claims...he has come around.”
A Janet Williams, who lives in West End and is originally from Oklahoma in the USA but has been in the VI for 16 years, said she was driving home and did hear the speech. She too admitted that it was a reversal from what the Premier had said in the House of Assembly “about things being good as everybody is feeling the pinch…he has gotten a reality check,” she said with a smile.
This news site will be updating this article with reactions from the Opposition, along with the business community, on the Premier’s speech.
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36 Responses to “Has the Premier flip-flopped on his ‘robust’ economy claim?”
You NDP people have no shame. Instead of admitting you made a mistake by voting in this sad group into office, and apologize to the poor suffering people of the territory, you coming on here comparing Dr. Smith to Ralph and Fraser. Shame Shame Shame.
Somebody name Lily wrote this letter on the pro government website
5th July, 2013
Dr. D. Orlando Smith
Premier
Premier's Office
Government of the Virgin Islands (UK)
Administration Building
Road Town, Tortola
Dear Sir,
I wish to commend you on the lateness of your address after you vehemently denied that our country was in a free fall called RECESSION.
It would seem after months of failing to take the plight and cries of the people of the Virgin Islands seriously, you have now come to realize that neglecting these facts would only make things worse.
I am sure there have been persons who have spoken to you of the hardships that have fallen the country. Yet time and time again, you have turned a deaf ear to the situation.
You fail to hear or see the following:-
- banks foreclosure on properties.
- persons that are unable to pay their car loans.
- when the very people that voted your party can no longer afford to feed their
children.
- when companies, such as Trust and Fiduciaries start pulling out and/or
downsizing.
- that the people who have contributed to making this country great are packing
up and going back to their respective countries.
- closure of small business because of the numerous increase of different Gov't
fees.
- a lot of people are unable to pay the exorbitant utility bills
- etc, etc, etc, etc, etc, etc, etc, etc...why don't you add the rest because you are fully aware of all the suffering that is going on in this country.
My suggestions:
- please take your head from your ..... because if this continues this country as we once knew it would NEVER be the same again. We have no intention of ever voting for a set of power, money hungry, ....., .... men and women.
- be HONEST with the people.
- all ministers of Gov't take a salary cut.
- forget about extending the airport runway, instead create a local airline that would facilitate the transfer of guests from Puerto Rico
(Americans) and St. Maarten (Europeans), thereby eliminating the need for LIAT
- stop making it almost impossible for foreign companies to do business in the VI
- start using solar power
I do have more ideas but not enough time.
Thank you for your immediate attention to your people's plight and if for some reason you have no intention of fixing some of our problems, forget about my VOTE.
Sincerely,
Lily (on behalf of all persons living and working in the VI)
booo booo go sit down wid your cocka-may-may wid tis poor weak and usless speech..it had all ah we snoozing....ayo NDP cowbird always chaitting pi$$...concern go suck an egg boss NDP days are numbered
For all of the nay saying, and derogatory statements, not one of you mentioned anything yet that will put monies back in our economies.
Please if you don't want to say anything to the NDP, for god sakes speak what you know to the VIP and let it be tabled in the House for all of us to hear so that we can participate and move this country forward.
Until then, the negative comments still will not create jobs, put food items on the tables of many, or ease the burdens so many are now suffering from.
I await from all you aforementioned and the others with solutions.
IF not, just SHUSH!!
If the NDP did not spend all we money on stupid consultants, over 1 million on the man’s road, craft alive, parking lot and the likes they will have been reelected come next time around. I have been saying this for 2yrs and can’t wait for the next 2 years to come!!!!