Hon Fahie launches attack on Local Insurance Companies
Mr Fahie, during his First District Report and Recommitment to Service Address on Saturday, January 26, 2019, said part of the VIP’s mandate is to free the people of the territory from what he called ‘financial bondage’.
Homes not repaired
“We have mortgages, vehicle loans, rent, children school and college fees locally and abroad, some also have child support, not to mention that insurance scam of a word called underinsured for which some of our homes have still not been repaired causing many to use their savings thereby falling further behind,” he told those gathered at the Capoon's Bay recreational ground.
“These insurance companies think that they have gotten away but tonight I put them on notice that they have not. There is more than one way to skin a cat... A word to the wise is sufficient,” Hon Fahie said in issuing his threat.
According to Mr Fahie, “Now that we are living from pay check to paycheck, a Virgin Islands Party Government will be obligated to ensure that there are bold new initiatives to free us from this financial bondage.”
Inflation
He said the VIP team will bring to the table the requisite initiatives and programmes to lead the territory into prosperity, while understanding that more hands ‘lighten the load’.
Further, the VIP Chairman spoke on inflation while noting that his party will implement counter measures to combat the adverse economic effects.
“Inflation has taken a toll on us and the only rebuttal to this is to re-energize the economy through introducing new revenue initiatives and cutting our clothes to suit our garments,” he said.
Mr Fahie assured the audience and in essence, the people of the Virgin Islands, that “If we come together, if we dream together, if we work together… we can fix it,” while saying that the VIP is committed to that dream.
10 Responses to “Hon Fahie launches attack on Local Insurance Companies ”
Moreover, in regards to inflation, the territory uses the US $ so it cannot set monetary policy; it can set fiscal policy to try to dampen the effects of rising inflation , ie, lowering taxes.......etc. Nonetheless, inflation is a function of the business cycle. For example, when the economy heats up, interest rate and inflation typically rises.......
Nothing.
Obviously. His comments are not intended to be taken seriously, just like all the others. They are just unicorn lists for those who are easily lead.