NASSAU, BAHAMAS — A well known attorney yesterday warned that the working class is ‘under threat’ amid the ongoing economic fall-out from the COVID-19 pandemic, suggesting that any significant economic recovery was likely a year or two away.
Trade Union Congress (TUC) President Obie Ferguson told Eyewitness News that the COVID-19 pandemic has been a tough pill to swallow for many businesses, particularly those who had already been struggling.
He warned that the working class was in a most vulnerable state.
“I think that it a very serious matter for workers,” Ferguson said.
“A lot of people aren’t able to take care of their families and may resort to antisocial behavior to sustain their families. It’s a very serious issue.”
He continued: “The way I see it it’s going to take anywhere from one to two years before we see any substantial economic activity and that will make it very hard for the average working citizen to survive. We could be looking at all kinds of problems because the system is not designed for the small man, the working man.
He added: “The working class is under threat, no question about it.”
While noting that banks have offered various forms of assistance including loan deferrals, Ferguson questioned what is to come once these facilities have ended and even more borrowers find themselves unable to fulfill their obligations.
He called on the government to introduce consumer legislation to protect borrowers particularly home owners from being displaced.
