Cost of rent has to be controlled — Walwyn
Former legislator Myron Walwyn has suggested that there needs to be a more focused approach on improving the cost of living for persons in the BVI.
Walwyn, while speaking on the cost of living issue on the NDP Radio programme last evening, February 27, shared a suite of measures to address the current economic situation and commented that rent control should be among these considerations.
According to the former Education Minister, the issue of economic improvement should also be tackled by increasing salaries and decreasing expenses.
He further suggested that some young people may be among those that find the cost of rent in the territory out of reach, particularly as they are comparing the various living options on offer.
“The cost of rent in the country has to be controlled to some extent,” Walwyn stated. “You have young people who might want to start off on their own and you go to one place and the rent is one amount, the comparable place, you know, you see the rent is a lot higher.”
Walwyn’s comments echoed similar sentiments previously expressed by Premier Dr Natalio Wheatley on the issue of fair tenancy laws.
In the meantime, Walwyn suggested that retirees appeared to be a neglected group, having not received an increase in their retirement allowance for nearly a decade.
“I look at a particular group of persons, retirees, for instance. When last retirees got an increase?” Walwyn asked. “You have persons who are living off of a pension amount probably that hasn’t been increased for 10, 15 years while there’s an increase in cost of living constantly.”
Walwyn suggested that this situation also needs to be addressed and has to be looked at from different angles. He further noted that, regardless of what is done in the area of the cost of goods, those persons in that small bracket will “feel the pinch” all the time.
According to the former Education Minister, the issue of economic improvement should also be tackled by increasing salaries and decreasing expenses.
He further suggested that some young people may be among those that find the cost of rent in the territory out of reach, particularly as they are comparing the various living options on offer.
“The cost of rent in the country has to be controlled to some extent,” Walwyn stated. “You have young people who might want to start off on their own and you go to one place and the rent is one amount, the comparable place, you know, you see the rent is a lot higher.”
Walwyn’s comments echoed similar sentiments previously expressed by Premier Dr Natalio Wheatley on the issue of fair tenancy laws.
Retirees will always feel the pinch
In the meantime, Walwyn suggested that retirees appeared to be a neglected group, having not received an increase in their retirement allowance for nearly a decade.
“I look at a particular group of persons, retirees, for instance. When last retirees got an increase?” Walwyn asked. “You have persons who are living off of a pension amount probably that hasn’t been increased for 10, 15 years while there’s an increase in cost of living constantly.”
Walwyn suggested that this situation also needs to be addressed and has to be looked at from different angles. He further noted that, regardless of what is done in the area of the cost of goods, those persons in that small bracket will “feel the pinch” all the time.
