Cost of living going up to the moon
THE EDITOR: There are constant cries from consumers with reference to the never-ending increases in the cost of living especially with regard to food items and this applies to persons from every level of the economic scale both rich and poor alike. Perhaps it would be well to remember that almost everything that is produced and is sold in TT consists largely of raw material imported from abroad, the price of which is completely out of our control. Add to this the increased cost of freight and the gross inefficiency that is being experienced in the handling of freight on the PoS docks that drives the cost of imported items severely upwards, it should be readily seen that we are off to a bad start. To compound the problems mentioned, the cost of local labour is continuously on the rise with unions up by 30 percent and more at each new negotiation which in most cases takes place every three years. Demands for higher wages is usually accompanied by a reduction in working hours, better working conditions, additional prerequisites and benefits etc, with no increase in productivity or in the quality of work produced. It might be instructive to compare the prices of various consumer items as obtained in the 1960’s with present day prices. For example, one pound of Tenderloin steak that sold for $2.25 — now sells for over $60. A bottle of popular rum that sold for $2 now costs over $50. The best blends of Scotch whisky that sold for around $15 now will cost at least $140. Good brandy that sold for around $16 can only be used now in the event of medicinal emergencies and in very small quantities. For the rich persons of luxurious tastes, a fully equipped Jaguar sold for under $10,000 — and a small economical car could be purchased for around $4,000. In today’s market the little average economical car runs at over $100,000 — for those with rich and luxurious taste in automobiles, a new Jaguar will set you back close to half a million dollars. Of course if you are a sports car enthusiast, you can order a Mclaren powered with a BMW 12 cylinder engine that is capable of 220 mph for a mere US$1 Million (Ex factory). So there you have it, it is not just the cost of food stuff that has increased by leaps and bounds, every single commodity has increased and will continue to do so for as long as labour costs keep going up. In reality it is merely a vicious cycle that has no apparent end in sight and one which from every indication we might as well get accustomed to. Wages defy the law of gravity in that they always go up and never come down. MARTIN KAVANAGH La Romaine
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"Cost of living going up to the moon"