Fiscal Restraints in Place to Handle Public Sector Wage Bill – Williams

Finance Minister Fayval Williams has assured Jamaicans that sufficient fiscal restraints are in place without placing a cap on public sector wages.

She reminded Jamaicans that the previous wage cap of nine-percent of GDP was ineffective and problematic.

Minister Williams informed the country that a fresh round of wage negotiations has begun with the public sector, with eleven unions already engaged.

The country’s fiscal monitors, such as the former Economic Programme Oversight Committee, and its successor, the Independent Fiscal Commission, have championed a return to a wage cap mechanism.

However, the minister believes the current fiscal rules sufficiently protect against unsustainable spending.

She says this round of wage negotiations will instead focus on greater efficiency and performance-based pay for the public sector.

In the meantime, Minister Williams announced that the government has set aside nearly two-billion dollars to hold General Elections this year.

Fayval Williams, Minister of Finance and the Public Service.

General Elections are constitutionally due by September this year.