Article: 4 Measures to Curb the Socioeconomic Fallout of COVID-19 (Coronavirus)
Jamell Robinson
4 Measures to Curb the Socioeconomic Fallout of COVID-19 (Coronavirus)
The COVID-19 aka the Coronavirus continues to wreak havoc on economies across the world including the superpower United States of America ,which saw a historic over 3,000 point drop in the Dow Index this week. Last evening they announced sweeping economic measures to try and mitigate the crisis. Along with the stimulus package, we in the TCI must brace ourselves and seriously consider implementing the following measures to curb the socioeconomic fallout from the coronavirus:
1. Postpone indefinitely the 6.8% Fortis TCI rate increase. This measure in my view is the simplest to implement of the 4 and can have a significant net impact on citizen. It was surprising to hear our Premier give the following answer to a question by Magnetic Media Reporter Deandre Hamilton regarding the 6.8% rate increase, and I quote “There has been no change in that and if there is we will certainly alert the Public”. Madam Premier, dare I say that is not good enough!
2. Implement Consumer Protection Regulations. The Consumer Protection Ordinance was passed in late 2016 and the regulations have been pending for over 3 years now. Given the evident price gouging we have seen in recent days with a simple 8oz bottle of hand sanitizer, we cannot leave it up to merchants to be compassionate in this time of national crisis. Once the Director of Trade is given the powers of the Consumer Protection Director, residents must be asked to join in the policing of price gouging by emailing receipts of purchases that they suspect price gouging is taken place based on their shopping history. These can be cross referenced with the customs database and prosecutions should take place as necessary.
3. Negotiation of at least a 3 month Mortgage freeze. As straightforward as measure number 1, this will provide great financial relief in a time when many will be underemployed or unemployed given that over 80% of our economic activity is directly or indirectly related to the Tourism Industry which is taking the biggest hit. This was done after hurricane Irma and can be done again. In the case of rental property owners receiving this waiver, they must in turn waive at least 50%-60% of the rental fees.
4. Social Care. Outside of a national crisis there are more people that need social assistance than is presently budgeted for. That being the reality, the Social Development budget must be significantly increased to be able to cope with the increased numbers of persons that will fall in this category despite the stimulus package that will soon be proposed. The idea is to ensure that any family that may fall below the poverty line does not stay there indefinitely.
As a country, we faced Hurricane Ike and Survived. We faced Hurricane Irma and Survived. We too shall face COVID-19 and we will not only survive but thrive for Isaiah 41:10 says: “So do not fear, for I am with you; do not be dismayed, for I am your God.”
Stay Blessed TCI
Jamell Robinson, PNP All Island Candidate
