Prices & taxes gone up while ‘rate of pay constant’ in VI- Hon Malone
According to Hon Malone, the taxpayers of the VI are already under strain with having to fund recovery from the various economic fallouts.
‘Taxpayers continue to fund recovery’- Hon Malone
“We must recognise that we a living in what I call a post-disaster-pandemic and war-era: post-2017 hurricanes; post-2020 -2021 COVID Global Pandemic; post a 2021-2022 Commission of Inquiry and an ongoing economic fallout of a Russia Ukrainian war.
“The taxpayers of the Virgin Islands continue to fund recovery from each of these occurrences from regional loans, social security grants, the consolidated fund, the reserve fund, and the miscellaneous purpose fund,” Hon Malone said in a statement on the passing in the House of Assembly (HoA) of the second Supplementary Appropriation (SAP) reducing total estimated expenditure by $8,069,884.
The SAP was approved during the continuation of the 4th Session of the Fourth House of Assembly at Save the Seed Energy Centre in Duff’s Bottom, Tortola on August 30, 2022.
‘No UK Grants & Recovery Assistance forthcoming’
According to Hon Malone, funding originally destined for operations and capital improvements and for development had to be diverted as the territory is expected and has provided the funds required for recovery from these disasters, pandemics and economic fallouts from its own resources as UK grants and UK recovery assistance are not forthcoming.
“Nevertheless, as legislators, we are called upon to recognise the economic strains that are being exacted on each household and on the citizens of the Virgin Islands.
“We must find ways to ease the burden and lighten the economic loads. The prices of food, energy, transportation, taxes, and everyday living have all risen and yet the rate of pay has remained constant in most measures. This is not easily fixed as, like fuel charges, it affects the price of goods and services in each economy.”
According to the Opposition Member, all efforts must now be centered on legislating, approving, and assenting to the various revenue-raising measures proposed in earlier meetings.
“There is a balance and together we must seek and have it resolved for the benefit of all. I so resolve,” Hon Malone stated.
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28 Responses to “Prices & taxes gone up while ‘rate of pay constant’ in VI- Hon Malone”
GOOD THING IS HE CAN C????
we not back in the 60s carvin so try to be more productive: u took office 2019 hoisted in 2022 and U did nothing to pockwood pond