Minimum wage discussion to be taken to the people- Premier Fahie
The minimum wage in the [British] Virgin Islands was last raised from $4 an hour to $ 6 an hour effective October 1, 2016, after being stuck on that amount for over 10 years.
Public consultation
“The minimum wage has to be a larger discussion and a couple of persons have asked about it so we will bring it up now as a discussion, bring it to the people and ask the people overall and get views on it,” Premier Fahie said while appearing as a guest on the Morning Braff Show on Tola Radio VI with host Floyd Burnett aka ‘Heritage’ on April 13, 2021.
A listener to the show had wanted to know when would the VI raise the minimum wage and when would Gov’t start paying overtime.
Mr Burnett remarked that the VI economy would have to be “healthy” for any minimum wage increase as businesses would be adversely affected.
“I agree but remember something too, we are not saying it will come in immediately but the question is when do we tackle it?” Premier Fahie responded.
The Leader of Government Business added that the discussion would also have to be about making the balance between the employer and employee, “because you can’t put the businesses out of commission. They already went through a lot of hardship with COVID-19.
‘People need to be paid what they are worth’
“But I will also say now, is the reason it will be a conversation for the longer term, in terms of when we will get it done, is that we have already started and approved in the Cabinet where we are going to look at job reclassification and also salary review for all public officers."
Premier Fahie said that task would be completed within 6 months to a year.
"I am a firm believer with my government that people need to be paid what they are worth,” Hon Fahie stated.
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26 Responses to “Minimum wage discussion to be taken to the people- Premier Fahie”
FOOD PRICES SKY HIGH
RENT HIGH
TAXES
AND EVERYTHING ELSE GOING UP
IN A PANDEMIC
THEY SENDING YOU TO NHI TO GET THIS TAHT TAKES FOR EVER
PLUS SOCIAL SECURITY AND INLAND REVENUE TO PAY MORE AND BE FUSTRATED. OVER A MONTH IVE BEEN WAITING ON NHI AND INLAND REVENUE
Minimum wage employee (normally non-Belonger) - "Can you raise the minimum wage please, I'm starving".
Employer (normally Belonger): "No! Complain again and you're fired".
Government: "No! You are not voters, I'll look after the employers".
The End
On the other hand, minimum wage is a supply and demand issue. Typically, when demand is high and supply low, prices rise. Conversely, when supply is high and demand low, prices fall. Moreover, generally, the supply of labour at low rung of the economic ladder is high and the demand for services is low. Minimum wages are intended to set a wage floor to help minimal/low skill workers. Workers at the lowest economic rung deserve a living wage. Nonetheless, care must be taken in adjusting the minimum wage so that it does not hurt the very people that it is intended to help. Increasing the minimum wage is an increase in the cost of doing business. And employers will definitely increase the cost of goods and services sold and pass the increase on to customers. Will the low wage worker standard of living and quality of life improve, if something is given in the right hand and then taken away from the left?