Cost Of Living Protection For St. Kitts – Nevis

Basseterre, St. Kitts – Nevis
September 25, 2007 (CUOPM)

Residents of St. Kitts and Nevis continue to get assurance from Government to do whatever is necessary to protect them from excessive cost of living.

Prime Minister Hon. Dr. Denzil L. Douglas says his St. Kitts – Nevis Labour Government fully appreciates that economic growth tends go hand in hand with increased inflation.

“We are therefore taking pre-emptive action to protect our people from excessive increases in the cost of living. We have identified a number of basic goods that exert considerable influence on the cost of living in our Federation and we are proposing to collaborate with the private sector to reduce the price of these goods through a combination of tax exemptions and reduced margins,” said Prime Minister Douglas.

He reiterated his government’s intention to introduce appropriate legislation to support this process where necessary and will strengthen the monitoring mechanism to ensure full compliance with the agreed prices or margins in respect of the specified goods.

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