Gov’t should extend business relief measures — BVICOC

The BVI Chamber of Commerce (BVICOC) has called on the government to extend temporary business and cost-of-living relief measures until the end of the year, arguing that worsening global economic conditions continue to place significant strain on businesses and consumers across the territory.

n a statement issued on Monday, the Chamber said it had formally recommended that the measures, which are due to expire on July 31, remain in effect until December 31, with a review every three months to allow the government to respond to changing global conditions.

The organisation acknowledged the government’s introduction of the temporary concessions earlier this year and thanked the Ministry of Finance and the Ministry of Trade, led by Lorna Smith, for continuing discussions with the private sector on the way forward.

The Chamber said international conditions had deteriorated since the programme began, citing higher oil prices, geopolitical tensions, shipping disruptions, increased freight and marine insurance costs, and continuing supply chain instability.