Poor decision making means that the Government is no position to subsidise the increase the food prices.
This is the belief of restaurateur Peter George who made the comment this morning while speaking on Power 102 Digital’s Power Breakfast Show.
He criticized successive Governments for their mismanagement of the country’s Heritage and Stabilisation fund.
Mr George maintained that the country is now impotent when it comes to dealing with global price increases.
He said that despite the public’s wishes, 20-25 years of distorted priorities means that the Government is not a position to subsidise the increase in food prices.
Describing the situation as serious, Mr George explained that the cumulative effect of the recent increase in flour prices will hit the public and the business sector hard.
He noted that there needs to be some adjustments as, without this, food businesses run the risk of bankruptcy.
However, speaking on his own behalf, he promised that his companies will not increase prices immediately.