Turnbull proposes Consumer Price Index for BVI
Second District Representative Melvin ‘Mitch’ Turnbull is calling for the implementation of a Consumer Price Index (CPI) and an independent consumer protection body to help control the rising cost of living in the Virgin Islands.
Turnbull said the CPI would serve as a tool to track price changes across essential goods and services such as food, rent, healthcare, and transportation. He argued that the economic strain on families and businesses is unsustainable without stronger consumer safeguards.
“For many residents in the BVI, making ends meet has become a daily struggle,” Turnbull stated. “From the price of groceries to rent, fuel, and even school supplies, our islands, though beautiful, are becoming unaffordable for the very people who live and work here.”
He explained that the CPI would allow the government to establish data-based price caps on essential goods, especially during economic downturns. “What if, based on CPI data, we establish price caps on essential goods and services like food and rent? Not to punish businesses, but to prevent exploitative prices,” he argued.
To ensure the CPI’s effectiveness, Turnbull proposed the creation of a regulatory body similar to the Financial Services Commission or the United States’ Consumer Financial Protection Bureau. This independent price control and consumer protection authority would monitor price movements, investigate suspicious price increases, and enforce penalties when necessary.
“The BVI must establish an independent price control and consumer protection authority,” he said. “It just serves as a watchdog ensuring that no business, no matter how big or small, is allowed to exploit economic hardship for profit.”
He also called for legislation that would empower this body with real authority. “We must also pass the legislation that allows this body to operate with real authority, granting it power to audit, to fine, and to hold businesses accountable,” Turnbull asserted.
Transparency is another key pillar of Turnbull’s proposal. He suggested that pricing data be published and updated regularly to allow the public full access to changes in the cost of living.
“This is not about stifling businesses. It is about creating an environment where businesses can thrive and people can afford to live,” he explained. “Let us act now for our children, for our seniors, for our community, and the future of these beautiful islands we call home.”
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Oh Wow! What a novel idea. These people want the public to be amazed by basic laws and practices of decency. What a fraud, all 13 of them are
This guy is a complete joker! 3rd time elected and this is the nonsense he comes up with? Thirsty for power, hungry for position!
What the h*ll is Mitch saying. The Trade Commission Act has all that in it. He sat there and let Ms Corner squash it
Before of course the govt (stats dept) stopped collecting the data sometime after 2021…
A quick google search puts this to bed. I mean give me a break.
Also price controls? Really? Basic economics tells you these lead to shortages, decrease in quality (due to lack of incentive for sellers) and black markets.
You just cant make this stuff up.
Why do our politicians just talk nonsense without doing the proper research? Are these people really willing to do any and everything just in the name of power and holding elected office? Nothing about this makes any sense at all and it shows this young man has no idea about finance and economics. It’s time for all 13 elected seats to be at-large so that we can get rid of these time wasters.
If “the current economic strain on families and businesses is unsustainable,” which has been a reality of living for over fifty years, with each year seeing that reality increased exponentially, without a word, concern or legislative effort by curent ready made wealthy politicians, why then should needy families, seniors and the general public have any faith in such a pronouncements?
When all is expected is the formation of another board and or commission laden with high salaries, and by the end of its term there will be nothing, absolutely nothing to show for its cost, nor will those on fixed incomes realize any benefit.
Additionally, nor will there be enshrined in any proposed CPI document or legislation any relief for senior citizens, who are the greatest victims and sufferers of current day pricing indexes.
Indeed, given the current business pricing matrixes, government must consider and enact a program to subsidize its seniors and ultra elderly with a reasonable subsidy, an increase inSocial and Pension benefits, and or another form of support that will help to alleviate the known suffering the seniors and elders are existing with.
As, the demands and practices of business within the modern context will not change nor consider or have mercy upon anyone, including the aged.
Hence, politicians need to stop giving media bites to critical life and death realities and begin making concrete values towards the alleviation of unaffordability and suffering among the seniors, aging and aged.
When are they finishing the Hodge’s Creek road?
Who is Northam?
Who wants to hear from this judus who described his locals as slums?