The head of one business chamber is attributing reduced commercial activity over the Christmas period to the impending increase in financial demands next year.
Head of the Couva-Point Lisas Chamber of Commerce, Mukesh Ramsingh, stated that business owners have reported shifting spending patterns this year.
According to Ramsingh, members of the public already have begun adjusting their spending patterns as a buffer for what is to come in 2024.
“Mostly the groceries were packed,” he observed. “People were looking for the necessities and for bargains and cheaper items because of the disposable income now that is less… so I think the spending habits in the past has changed.”
He added: “People are waiting to see what is taking place with the rise in electricity rates and [implementation of] property tax.”
Ramsingh called for further government intervention to assist with the ease of doing business in the new year.