Mayaro MP – T&T heading towards an “economic iceberg”

    0

    Mayaro MP Rushton Paray believes T&T is heading towards an “economic iceberg”.

    Proof of that he says, is the recent rumour that nearly 300 workers are to be laid off by Unilever Caribbean.

    While the company insists nothing has been decided yet, it has admitted to reviewing its operations in the context of a weak domestic economy and a challenging global environment.

    According to Mr Paray, there is increasing unemployment everywhere despite claims from Ministers that the labour market is strong and the economy has turned around.

    And he is accusing the Government of rearranging the deckchairs instead of steering the ship to safety.

    Mr Paray also pointed to the recent report by the Economic Commission for Latin America and the Caribbean which he says showed that T&T was the only country to have had negative Foreign Direct Investment for three years running.

    He believes this is a”massive alarm bell” and shows that investors have lost all confidence in the local economy.

    He ended his criticism by demanding that the government call a general election now.