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Tuesday 4 August, 2020

Road to Recovery phase one report laid in Parliament

Prime Minister Dr Keith Rowley lays papers before the House. © 2020 Office of the Parliament. All rights reserved.

Prime Minister Dr Keith Rowley lays papers before the House. © 2020 Office of the Parliament. All rights reserved.

The first report of the Road to Recovery Committee which details phase one of the plan to get the country back on track post-COVID-19 has been laid in Parliament.

Prime Minister Dr Keith Rowley laid the report in the Parliament on Wednesday.

The Committee, in collaboration with the Finance Ministry, identified several sources for mobilising additional financing for the next nine months with the possibility of further funding over the next fiscal year, if needed.

It noted that both the private and public sectors will have to play significant roles in the short-term to jumpstart the economy.

The Prime Minister said: “The strategies required for rebooting the economy and the wider society require partnership among the Government, private sector, labour and civil society, agility in the supporting institutions and a culture that fosters productivity, efficiency, performance and harmony.”

The Committee focused on three immediate priorities: addressing and mitigating the hardship inflicted by COVID-19; restarting the economy; and laying the foundation for sustained economic recovery.

It mapped out a course of action to achieve its short-term objectives of social protection, protection and creation of jobs; boosting aggregate demand; and minimising supply disruptions.

Dr Rowley noted that Government has already adopted several of the initiatives proposed by the Committee in its phase one report.

Achieving some of these objectives involved the strengthening of the social safety net with a focus on women, children and the dispossessed through measures including an increase in the allocation of social programmes from $9 billion in 2020.

The Second Phase of the Committee’s work is already in progress.

The Prime Minister said phase two is focused on the medium-term and is aimed at restructuring and transforming the economy, to create a more resilient, equitable, and self-sufficient society.

He gave the commitment that Government would put the same effort into reshaping and growing the economy post-COVID-19 as it has put to date into the fight against COVID, with the intention of reaping the same positive results.

Dr Rowley expressed confidence in the team and its abilities, and expressed thanks to all who contributed to the report, including former Minister Robert Le Hunte who served as Co-Chair of the Committee.

He assured that citizens’ recommendations have been read and considered, and expects many of them to be featured in the Phase 2 report which is due to be completed shortly.

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