The post The housing sector might be exempt from lockdown restrictions appeared first on Provoker Magazine.
]]>The following facts are being taken into consideration before the decision can be made:
- The real estate industry contributes substantially to the fiscal through tax heads such as capital gains, value-added tax, income tax, pay-as-you-earn, and property tax.
- This industry houses all essential services, therefore it is essential for them to continue operating to provide needed infrastructural support to these services.
- Most long term funding needed for projects that facilitate development and economic growth are sourced from the real estate industry. In essence, shutting down this industry for a prolonged period would stifle the economy in the long run.
This move is sure to benefit the approximately 100 000 people employed in this sector along with their families.
Alexander Millin explained why the sector deserved to be classified as an essential service provider when he wrote;
“Essentially, the sector is an integral part of essential services such as finance, health, mining; agriculture, airlines; hospitality and ICTs, which function within a build environment supported by the real estate sector”
Despite the seeming economic benefits that come from opening up the Real Estate industry to continue operating during this lockdown, not everyone is pleased. Some citizens have questioned who these essential services are essential to, especially since a growing number of families are plummeting below the poverty line as a result of a lack of income caused by lockdown regulations.
As if to echo the old adage “strong families build strong nations”, others have remarked that the term essential service should imply services necessary for one to survive. If the greater majority can provide for their families doesn’t that reflect well on the economy of the country?
To many, it seems as though the measures being taken, though protecting the people from the Corona scourge, are hurting people’s livelihoods even more.
What is your opinion on the matter? Let us know in the comment section below.
The post The housing sector might be exempt from lockdown restrictions appeared first on Provoker Magazine.
]]>