Smith urges calm amid energy fears
Junior Minister for Financial Services Lorna Smith has urged residents to focus on preparation rather than panic as global tensions threaten to drive up energy and living costs in the Virgin Islands.
In a statement issued amid escalating conflict involving the United States, Israel and Iran, Smith acknowledged growing public concern but said the government was actively monitoring the situation and taking steps to cushion potential impacts.
She stressed that the territory must remain forward-looking in its response.
“This is a time for preparation, not panic,” Smith said, adding that an expanded technical team is “meeting daily, reviewing global market signals, analysing shipping and import trends, and advising on the steps needed to keep our economy steady.”
According to Smith, this approach is designed to ensure the government anticipates pressures rather than reacts to them. “This work ensures that we are not reactive, that we are anticipating pressures early and therefore positioning the Virgin Islands to remain stable,” she explained.
Her comments come against a backdrop of long-standing concerns about rising prices in the territory, including high grocery and utility costs.
Closely connected
Smith said she remains closely connected to those realities. “We meet in our supermarkets every week, pushing our carts, comparing brands, looking for value… So, I am very much on the ground with you on the price realities you face,” she noted.
She pointed to the long-promised Basket of Goods initiative as a key part of the government’s response. “The technical framework is complete, the list of essential items has been finalised, and discussions with retailers and importers will continue,” Smith said.
The initiative is expected to cover a range of everyday items, including fresh produce, meats, dairy products and hygiene goods, with the aim of stabilising prices on essentials.
The basket of essential goods framework is among five key actions the government announced to address the effects of the Middle East war on the local economy. The others include electricity relief, lowered import duties, reduced port fees, and consumer protection measures.
“In this period of global uncertainty, the public can be assured that government is fully engaged, paying close attention, and acting in your interest,” she said. “We are working to ensure that every household can depend on fair prices and a stable market,” Smith stated.
The minister said the government will continue to provide updates as conditions evolve.
Gov’t rolling out relief measures to offset global price shocks
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The biggest disappointment, she needs to get all she can get now, her time will soon expire and will not be renewed…
Why is she the biggest dissapointment ? Why doesnt Hon.Fraser get the same criticism ?He did exactly the same as Hon.Smith which was to get away from the confusion. That is the reason why it does not pay to be genial and professional because people mistake it for wealkness.The only reason people dont approach fraser with the same criticism is because the fear he might tell them to kiss yo ms..
So why you int mention Mather’s name too?
My bills going up all around with NO RAISE! And we must remain calm!! What planet are you living on lady?? We are suffering in the grocery stores, the cost of daily living increases in the BVI faster than you can blink.
But of course you would not understand as you’re set for life. So you be calm
Talk about what truly matters and not something to derail The citizens from the truth..elections is next year…why not talk about the 5 Million dollars since you are the Junior Minister for The financial Services Sector?
Nat blaming former Accountant General Arnold but for him to do such a thing as an individual shows the lack of a robust fiscal policy when one man can move around sooo much cash and still act dumb. Somebody needs a proper azz whopping for dis!
He said that the $5M was approved for deposit to the bank by the previous Accountant General. That Real enough? What I want to know is where do they find these almighty big buses to throw people under.
I wasn’t sure why she spoke. She simply reiterated what others had said like good brownie points. But here’s some hard reality from just today. 85 year old single woman in tiny house, no husband, no children, no help – Electric bill last month $44.06. This month AFTER the govt and bviec credits $85.31. 76 year old single woman no husband, no children to help groceries $53.49 items from the “government basket” 1 loaf of bread, 1 roll paper towel, soap, honey, butter, vanilla essence, sugar free cookies, 2 cans tuna. AND THAT MY FRIENDS IS REALITY.