Bynoe:No wage hikes now

BUSINESSMAN ANDREW BYNOE has called for sacrifices from the public and private sectors, and assistance from labour unions, to reduce the cost of living.
Bynoe, whose call for a ten per cent wage cut two weeks ago drew the ire of many Barbadians, is contending that now is not the time for unions to be pressing for wage increases. Instead, they should “join in finding ways in keeping people employed and . . . bringing the cost of living down”.
He also said his proposal for a wage cut must not be seen in isolation, but as a cost of living reduction plan with the public and private sectors in full agreement.
“The private sector must bear our share,” he said. “Such [wage cut] initiative must have a guaranteed reduction in the cost of living. It could also exclude persons below a given wage. It requires a heavy-handed cost of living regime, with a sweetener at the end . . . when the country rides out this difficult economic period.”
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