Residents now feeling the pinch of hikes in ABST, SS contributions and money-transfer fees, Dr Daniel says

Residents are beginning to feel the pinch caused by the increase
in the cost of living, says former university lecturer Dr. George
Daniel.

Specifically, he referenced the 2 percent hike in the Antigua &
Barbuda Sales Tax (ABST) and the 0.5 percent increase in Social
Security Scheme contributions, both of which took effect on
January 1 this year.

Dr. Daniel notes the ripple effect of the increase in cost of living,
adding that residents are also feeling the squeeze when they send
remittances to their loved ones.

In Parliament, he says, the discussion appeared to be centered on
non-nationals sending remittances back home.

However, there are people in the Diaspora who are sending
money to their elderly parents in Antigua and Barbuda, as well as
parents here who are sending money to their children overseas,
Dr. Daniel points out. And so the increase in fees is hitting right
across the board.

All of these add-ons have a domino effect on the economy, he says.