Hon. O’Neal throws cold water on Premier’s ‘robust’ economy claims!
Ralph T. O’Neal OBE, Speaks
"What I hear daily from the people and from what I have seen is not enough to say that things are good here, we are still struggling,” the former Minister of Finance and Premier said during an exclusive interview with Virgin Islands News Online.
Hon. O’Neal, who is also the Ninth District Representative [Virgin Gorda & Anegada], said when he watches the news from Asia, Europe, China, Australia and even our neighbors “economies all over the world are struggling and some are getting worst… very seldom they give good news on the economy… this must have an effect on the Virgin Islands.”
He went on to say that “France for example is on the verge of a depression, and Portugal and Spain are to face a lot of economical difficulties…on what basis is Dr. Smith telling us everything is good here?”
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.
"You have to be able to present figures to support the claims. Figures would give a better picture of the situation," Hon. O’Neal added firmly.
When asked by the reporter if Premier Smith was deliberately misleading the people for political expediency and trying to paint a positive picture when the reality on the ground is the opposite, Hon. O’Neal said with a smile, "He (Premier Smith) is in a position to know if it’s good, better or worse….”
The Virgin Islands Party Leader went on to say, “despite what the Premier might have said about the economy being good, remember he still has limitations with money, the issues with the protocols, so he has to take that into consideration."
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.
Hon. O’Neal, the longest serving legislator in the Virgin Islands’ (VI) House of Assembly, told this news site that a few months ago he had a conversation with some American friends and “they predicted that 2013 will be a bad year for the economy.”
The Man on the street and business community
Many in the business community and the man on the streets have already lashed out against Dr. Smith’s claims that the VI economy is ‘robust’ and getting better with many accusing him of being out of touch.
The reality on the ground, according to many, is that every day persons working in the Virgin Islands are losing their jobs, many Caribbean nationals and others have had to return home because of lack of job opportunities and ability to cope with the high cost of living. Banks are repossessing properties, vehicles and equipment as well. Many small businesses are also operating on bank overdraft to stay open.
In less than one week, two of the leading Telecommunication companies - CCT Global Communications and LIME BVI- have altogether laid off approximately twenty persons, more numbers for the very high unemployment pool that already exists. Further, many small businesses have closed within the past year, resulting in residents losing their jobs. Some Trust companies have also laid off workers, although not reported by the media.
Several persons in a previous article run by this news site accused Premier Smith of misleading the nation and several persons have publicly called for an explanation while some say Hon. Smith owes them an apology.
In a previous article, one businessman and talk show host said, "The fact that the (NDP) Government is running and stooping under the table not to answer the opposition question, shows that they are not willing to face the facts and do what's best for the BVI”.
Background on robust economy as claimed by Dr Smith
Speaking during the Questions and Answers segment at the Ninth Sitting of the Second Session of the Second House of Assembly of the Virgin Islands on May 14, 2013, Premier Smith refuted assertions that the economy of the Virgin Island is failing since, according to him, there is no economic data to support such a claim.
Third District Representative Hon. Julian Fraser, RA had sought an explanation on the correlation or coincidence between the Premier's decision not to fund the Development Fund and what he (Hon. Fraser) characterised as "the failing economy of the Territory" given that the money from the Fund is what is used to finance capital projects, which create jobs.
.png)
.png)
Follow Us On
62 Responses to “Hon. O’Neal throws cold water on Premier’s ‘robust’ economy claims!”
Here in the real world there are those of us who have taken a 50% pay cut, been out of work for months... and we would love to be breaking even, and have a job that paid us what we made even 2 years ago! Can't afford health insurance, I have had to borrow money for the last 3 months to pay the rent, and I have no idea where the money is coming from to pay all my bills and buy food, and these selfish money hungry Politicians have the nerve to 1) ask for a rate increase on labour permits and departure taxes and 2) the NDP has the nerve to approve it! I would beg those big wigs to walk a day in my shoes, and I would dare them to walk a day in the shoes of those who have it worse than me.
The other shake down is that when the economy was really golden, people lived beyond their means- big houses, fancy cars etc- now that the economy is "correcting itself" people are left holding the bag and panicking. That is just one issue. Just finish projects started and pay attention to fixing logical stuff first. But I don't think it is helpful getting alarmist and scaring people.
What new and innovative ideas could dead wood Ralph and Dr. Smith like these provide to the people of the BVI on the economy???!
These people have done irreparable damage to the BVI-both parties yet the brain dead populace keeps recycling them for more abuse. Ignorance is bliss!
Typical Dr. Smith and NDP … if you poor, you will never get proper attention only to be used for votes
and no justice