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There are mixed reactions coming from the private sector and trade unions to the $499 billion Budget tabled Thursday in the House of Representatives by Finance Minister Audley Shaw.
As various sector groups assess the implications of the reduced Budget, some members of the trade union movement are reacting negatively to the reality that a significant portion of retroactive salaries due to public sector workers will not be paid.
One hundred and thirty billion dollars has been set aside for the wage bill.
Of this amount, about $3 billion will go towards outstanding salaries.
Lambert Borwn, UAWU President.This has lead Lambert Brown, President of the University and Allied Workers Union, to lashed out at the Bruce Golding administration for what he says is its anti-worker attitude.
"By refusing to put additional funds in the budget for public sector workers salary, the government is disregarding the contracts it has signed with public sector workers, disregarding the reclassification agreement it has and is simply saying, it prefers to bully the workers of Jamaica rather than sitting down and signing agreements given what ever financial constraints there may be," he said.
Budget geared towards a sounder economy - Morris
Jason Morris.And Jason Morris, Financial Analyst, says critics of the new Budget should bear in mind the harsh economic realities which made it extremely difficult for the government to spend more than it did last year.
"We are simply not in a position to be collecting $1 in revenue and spending $2 in expenditure. The budget that we're seeing is one geared towards helping us keep our heads above water over the next year or so.
"It will allow the economy to absorb the reduction that we're seeing in interest rates and also enable us to meet the targets set by the International Monetary Fund and to put the economy on a sounder track for the future," Mr. Morris said.
http://www.radiojamaica.com/content/view/26100/26/
As various sector groups assess the implications of the reduced Budget, some members of the trade union movement are reacting negatively to the reality that a significant portion of retroactive salaries due to public sector workers will not be paid.
One hundred and thirty billion dollars has been set aside for the wage bill.
Of this amount, about $3 billion will go towards outstanding salaries.
Lambert Borwn, UAWU President.This has lead Lambert Brown, President of the University and Allied Workers Union, to lashed out at the Bruce Golding administration for what he says is its anti-worker attitude.
"By refusing to put additional funds in the budget for public sector workers salary, the government is disregarding the contracts it has signed with public sector workers, disregarding the reclassification agreement it has and is simply saying, it prefers to bully the workers of Jamaica rather than sitting down and signing agreements given what ever financial constraints there may be," he said.
Budget geared towards a sounder economy - Morris
Jason Morris.And Jason Morris, Financial Analyst, says critics of the new Budget should bear in mind the harsh economic realities which made it extremely difficult for the government to spend more than it did last year.
"We are simply not in a position to be collecting $1 in revenue and spending $2 in expenditure. The budget that we're seeing is one geared towards helping us keep our heads above water over the next year or so.
"It will allow the economy to absorb the reduction that we're seeing in interest rates and also enable us to meet the targets set by the International Monetary Fund and to put the economy on a sounder track for the future," Mr. Morris said.
http://www.radiojamaica.com/content/view/26100/26/