Build for boom -Davies says NHT could spark economic revival

Erica Virtue, Senior Gleaner Writer

Opposition spokesman on Finance, Dr Omar Davies, yesterday handpicked the construction and tourism industries as vital to the revival of economic activity and growth.

Davies was making his contribution to the 2011-2012 Budget Debate. He said state spending economic activities can be stimulated by "utilising existing resources in a way to stimulate economic activity, particularly for those at the bottom of the income ladder."

Citing the construction sector as an industry with the capacity to hire thousands of workers, Davies said the government-run National Housing Trust (NHT) could be used as a proactive instrument islandwide in creating employment.

"There is no other sector of the economy, which is able to impact on economic activity more than the construction industry. It employs a variety of persons across all skill levels. Two, the multiplier effect is tremendous when engineers, architects, masons, carpenters, welders are working; there is a general higher level of economic activity. Everyone can, literally and figuratively, eat a food - legally," Davies said.