A time to go partisan
The economic impact of COVID-19 sweeping the world is a daunting thought to say the least. And we must have no illusions that things could get tougher for us when we get the full impact before they get better.
This is no time to play politics with the reality of the dire situation facing us. It is a time to come together and collectively look at ways on how we can survive this crisis and then rebuild.
It is not a time to whip up emotions. Alarm, hysteria and fear are our worst enemy. We need to be bold, realistic and pragmatic. It is very easy to go the wrong way in our times of desperation. We can panic and make irrational decisions.
Yes there will be some pain, many are feeling it, so is the rest of the world.
There have been job losses and workers are working on reduced hours. If we can get our formula right we can gradually claw our way back to the top. If we need to, then we need to share the pain, meaning more will sacrifice to keep our businesses running and the economy churning. To those who have suffered our sympathies are with them. Everyone is hoping that this is only temporary and will not take long. That is the reason that when we reset our economic clock we must set it right and then we stick to it.
The journey may be tough, but if we persevere we will all get there eventually. There is no magic potion for this path. It requires a collective effort, a partisan approach.
Members of Parliament must bear this in mind when they begin their debate on the 2020-2021 National Budget today. Their decision will have far reaching implications on the lives of all our citizens and national interests. Let’s put politics aside and see what we can do to improve in the proposed Budget. The key word here is improve not condemn as what some of our doomsday politicians are saying. Many lives and livelihoods depend on this Budget.
And let’s not forget this is a war. We have won on the health front by containing the spread of COVID-19. But we are fighting a fierce battle on the economic front. We will need all our resolve and goodwill to overcome the challenge. Many are depending on our MPs and Government to chart the way forward for us.
So far the response from many sectors of the economy has been positive. Let’s build on it and fortify our economic base because this could be a long haul.
We also need to keep a close eye on what’s happening to our close neighbour and development partner New Zealand because a lot of things occurring there mirror what we face here.
If we can learn a few things from them like they have done from us it would help us in our national effort to rebuild our economy in a sustainable way.
Tourism is one their top revenue earners and employer. While we have 115,000 workers, who lost their jobs or are working reduced hours, many from the tourism industry in New Zealand are suffering. More than 200,000 Kiwis are receiving Jobseeker Support or the emergency COVID-19 unemployment payment as of June 25, 2020. Some of these are going to run out soon Fijian employers face the same predicament here because the Government, just like the New Zealand Government, does not have unlimited funds and there is a cap on how much it can borrow.
So the emphasis for us is to create economic activities that will open up jobs, boost spending and consumption and stimulate economic growth.
This Budget has created the base for that. We need to take advantage of the relief package that features unprecedented tax cuts and initiatives to encourage local investment.