British Virgin Islands

Wednesday, Jan 27, 2021

'Stimulate businesses instead'- Hon Turnbull says no cash handouts to citizens

Says COVID-19 Gov't stimulus package should boost local industries

Calling the opportunity a 'low hanging fruit' to boost the economy, Opposition Member, Hon Melvin M. Turnbull aka 'Mitch' says he is against a COVID-19 stimulus package plan where cash is put directly into the hands of citizens rather than businesses.

"If we in terms of the stimulus plan, if we start to plug back in funds and funding to the businesses and the systems within the government that operates and generates revenue to businesses owners... for example in healthcare, in the construction [industry] and those who may have had contacts with government," he said the economy can get going.

Hon Turnbull was at the time speaking at an Opposition held online discussion with community members, yesterday, Tuesday, May 26, 2020, in the boardroom of the House of Assembly (HoA) of the Virgin Islands.

He said businesses can directly influence the economy if they are stimulated enough and monies are funnelled directly to the commercial sector. "I think that will be a good generation of revenue and allow us to move forward with the economy."


Persons will hoard $$$ - Mitch

However, according to Hon Turnbull, if the COVID-19 stimulus package- proposed by the Premier Andrew A. Fahie Government- puts cash directly in the hands of citizens it can be counterproductive.

"But if we take the other approach, and start to just give money to individuals, then, what it will do is basically you're giving me money and I am going to hold on to it because I'm not sure where it's going to come from," he said.

He said industries like tourism, fishing and farming remain good prospects to easily generate money into the economy once they get going again.

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