‘The budget this year wasn’t terrible… I mean fuel prices didn’t go up, so that’s always a plus’
By Alicia Chamely
I WOULD like to state, as I always do before commenting on matters of the economy, that I am the furthest thing from an economist and in no way am I an expert in financial matters.
What I am, however, is a critical thinker with a boastable amount of common sense with the perfect dash of scepticism.
Having said that let’s get into the 2023/2024 Budget beautifully titled Building Capacity for Diversification and Growth… makes you feel hopeful huh?
The budget this year wasn’t terrible… I mean fuel prices didn’t go up, so that’s always a plus. Some good incentives for economic expansion were outlined such as the business levy exemption for manufacturing companies and the 5% increase in the Sustainable Incentive for the energy sector.
Both aimed at the expansion and growth of the corresponding industries, especially amongst smaller businesses. The expansion of the adult literacy programme to CEPEP and URP workers, also an excellent initiative.
‘Have they put a safety net in place for businesses that aren’t affected by the wage hike, but out of bad mind will raise their prices?’
Alicia, what about all the other “sounds good” stuff like the increase in minimum wage, new scanners for the port and the purchase of new vehicles and equipment for increased police patrols?
This, my friends, is where common sense and scepticism comes into play.
Let us look at the minimum wage, which has been increased to $20.50 per hour from the current $17.50 per hour. Firstly, let me say everyone deserves a livable wage and with the increasing costs of living I am not sure how far that $3 will go, but I suppose it is better than nothing.
Here’s my issue, what steps has the ministry of finance taken to ensure this rise in wages will not also result in a further increase in prices. Because let’s be real, for businesses to cover the hike in wages many will jack up the prices of their items/services. These types of increases will essentially undo the benefit of being paid more, especially as inflation was estimated to increase by 3.4% in 2024.
The Government has not addressed how they plan to tackle this, are they putting things in place so businesses can easily expand and grow to earn more to cover salaries? Have they put a safety net in place for businesses that aren’t affected by the wage hike, but out of bad mind will raise their prices? What about job losses? There will be some, because some employers will have to reduce their workforce.
Increasing the minimum wage is an excellent step in ensuring people are paid fairly in comparison to the costs of living, but it cannot be done without putting safeguards in place to ensure people do not find themselves in the same position they were in with the lower wage.
Now we roll onto issues of national security. A big highlight in this regard was the acquisition of four large non-intrusive scanners to be placed in the nation’s ports.
Minister of Finance Colm Imbert said the Government will spend an estimated $90 million on the purchase, installation and training of staff to use these scanners, which are hoped to reduce drugs, guns and other illegal contraband from arriving through our ports.
Hmmm. So, what happened to the last set of scanners? Are these big new shiny ones going to end up being unused due to some loudmouth union leader opposing their use cause the training is too hard or the scanners will give port workers testicular cancer?
Also, what system of maintenance has been put in place? Are these scanners doomed to go down the path of every other big-ticket purchase our government has made to show us they are super serious about crime? And what is being put in place to stem corruption… because one pay off and someone’s container from Colombia slips past the scanners.
Imbert also announced the allocation of $80 million towards the purchase of vehicles and equipment to increase police patrols within communities. Bredren how much more vehicles the police need? Seriously, I am tired of seeing wrecked or dead police vehicles parked up. I am tired of hearing stories of them not being maintained and left to rot.
What equipment is being ordered and how will it be beneficial? Will it be used? Will it be maintained…cause ya track record ain’t great.
Maybe you should have used some of that $80 million to weed out corruption within the police service, because that would have been huge in fighting crime… saying.
I need to see at least two criminals arrested every day for me to justify the spending of $80 million. I’m sorry but enough is enough, we need to see value for our money.
So many questions and so little answers. There are good plans in place, but plans are just plans unless they can be properly executed and being the skeptic I am, I have many doubts.
I Need to See 2 Criminals Arrested Everyday
‘The budget this year wasn’t terrible… I mean fuel prices didn’t go up, so that’s always a plus’
I WOULD like to state, as I always do before commenting on matters of the economy, that I am the furthest thing from an economist and in no way am I an expert in financial matters.
What I am, however, is a critical thinker with a boastable amount of common sense with the perfect dash of scepticism.
Having said that let’s get into the 2023/2024 Budget beautifully titled Building Capacity for Diversification and Growth… makes you feel hopeful huh?
The budget this year wasn’t terrible… I mean fuel prices didn’t go up, so that’s always a plus. Some good incentives for economic expansion were outlined such as the business levy exemption for manufacturing companies and the 5% increase in the Sustainable Incentive for the energy sector.
Both aimed at the expansion and growth of the corresponding industries, especially amongst smaller businesses. The expansion of the adult literacy programme to CEPEP and URP workers, also an excellent initiative.
‘Have they put a safety net in place for businesses that aren’t affected by the wage hike, but out of bad mind will raise their prices?’
Alicia, what about all the other “sounds good” stuff like the increase in minimum wage, new scanners for the port and the purchase of new vehicles and equipment for increased police patrols?
This, my friends, is where common sense and scepticism comes into play.
Let us look at the minimum wage, which has been increased to $20.50 per hour from the current $17.50 per hour. Firstly, let me say everyone deserves a livable wage and with the increasing costs of living I am not sure how far that $3 will go, but I suppose it is better than nothing.
Here’s my issue, what steps has the ministry of finance taken to ensure this rise in wages will not also result in a further increase in prices. Because let’s be real, for businesses to cover the hike in wages many will jack up the prices of their items/services. These types of increases will essentially undo the benefit of being paid more, especially as inflation was estimated to increase by 3.4% in 2024.
The Government has not addressed how they plan to tackle this, are they putting things in place so businesses can easily expand and grow to earn more to cover salaries? Have they put a safety net in place for businesses that aren’t affected by the wage hike, but out of bad mind will raise their prices? What about job losses? There will be some, because some employers will have to reduce their workforce.
Increasing the minimum wage is an excellent step in ensuring people are paid fairly in comparison to the costs of living, but it cannot be done without putting safeguards in place to ensure people do not find themselves in the same position they were in with the lower wage.
Now we roll onto issues of national security. A big highlight in this regard was the acquisition of four large non-intrusive scanners to be placed in the nation’s ports.
Minister of Finance Colm Imbert said the Government will spend an estimated $90 million on the purchase, installation and training of staff to use these scanners, which are hoped to reduce drugs, guns and other illegal contraband from arriving through our ports.
Hmmm. So, what happened to the last set of scanners? Are these big new shiny ones going to end up being unused due to some loudmouth union leader opposing their use cause the training is too hard or the scanners will give port workers testicular cancer?
Also, what system of maintenance has been put in place? Are these scanners doomed to go down the path of every other big-ticket purchase our government has made to show us they are super serious about crime? And what is being put in place to stem corruption… because one pay off and someone’s container from Colombia slips past the scanners.
Imbert also announced the allocation of $80 million towards the purchase of vehicles and equipment to increase police patrols within communities. Bredren how much more vehicles the police need? Seriously, I am tired of seeing wrecked or dead police vehicles parked up. I am tired of hearing stories of them not being maintained and left to rot.
What equipment is being ordered and how will it be beneficial? Will it be used? Will it be maintained…cause ya track record ain’t great.
Maybe you should have used some of that $80 million to weed out corruption within the police service, because that would have been huge in fighting crime… saying.
I need to see at least two criminals arrested every day for me to justify the spending of $80 million. I’m sorry but enough is enough, we need to see value for our money.
So many questions and so little answers. There are good plans in place, but plans are just plans unless they can be properly executed and being the skeptic I am, I have many doubts.