Rainforest

1427 Words3 Pages

In the 1930s, still under political control by Britain, the English Speaking Caribbean could be characterised as region undergoing tremendous amounts of labour unrest. During this period, a series of labour riots and general labour unrest plagued many islands. The roots of these uprisings can be traced to the hardship experienced by the formerly enslaved Africans after Emancipation, which went unrelieved for an entire century. With their hard-won freedom gained in 1838, the formerly enslaved Africans sought to transform themselves into an independent community of small farmers. However, they continuously faced myriad of difficulties and eventually grew extremely frustrated. To further compound the problem, sugar, formerly known as the economic …show more content…

The government began granting generous fiscal incentives, such as tax holidays, accelerated depreciation rates, duty-free importation of raw materials, tariff protection, and subsidized factory space. These incentives placed a heavy emphasis on industry and services particularly manufacturing, mining, and tourism over agriculture. The implementation of a number of acts by the government such as, the Pioneer Industries Law of 1949, the Industrial Incentives Law of 1956, and the Export Industries Law of 1956, resulted in drastic growth of the manufacturing sector. Likewise, there was a similar stimulus in the tourism sector with the Hotel Aid Law of 1944, which provided a similar catalyst to investment in the tourism sector. The application of the "industrialization by invitation" strategy growth model of development resulted in a large number of foreign corporations, mostly from the United States, being established in Jamaica. The twin island of Trinidad and Tobago underwent a similar experience. The Trinidadian government sought to attract investors through the creation of the Industrial Development Corporation (IDC). The IDC created a production platform that sought to assist investors by providing them with incentives, especially to exporting firms. The government also enacted a number of important economic policies to facilitate the growth of the economic sector. These polices were the Aid to Pioneer Industries Ordinance and the Income Tax Reform Ordinance to Benefit Industry, both enacted in 1950. Once these policies were implemented, wide ranging fiscal concessions for infant industries were provided and similar provisions were also made for tourism. Both islands were the benefactors of incredible economic growth especially in their manufacturing sector. For example, the Jamaican real Gross Domestic Product (GDP) an annual average of 6.7% and 8.5% in

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