Wednesday 23 October, 2019

Watch: Varied responses to budget, minimum wage increase

Citizens expressed varied views of the 2020 national budget presentation, with some expressing approval while others saying some of the measures are still not enough. 

Among some of the measures discussed by Finance Minister Colm Imbert during a presentation at Parliament on October 7, 2019, are an increase in the minimum wage from $15 to $17.50, and 15 percent increases to for CEPEP workers and contractors and URP workers. 

Here's what the public had to say:

(Video: Winston Sobers)

 

Here's an overview of the 2020 Budget Presentation:

1. Total Revenue $47.749 B (Based on US $60 per barrel, $3 MMBTU Oil Price), total expenditure of $53.036 billion, deficit $5.2 B (3.1% of GDP). 

2. Minimum wage increased from $15 to $17.50; URP, CEPEP workers and contractors to receive 15% increase.

3. No taxes on agricultural supplies/processing costs.

4. Projected oil revenue of $11.004 B, non-oil revenue: $35.795 B, capital Revenue: $0.95 B.

5. THA to receive overall allocation of $2.283 billion, $300M financing from government for local projects in historic first.

6. Tax removal on LED bulbs, 100% tax removal on solar water heating equipment.

7. Ban on styrofoam food containers from January 1, 2019 (removal of plastic water bottles in government buildings).

8. OJT stipends increased by 10 percent, number of OJT workers increased to 8,000

9. Tax allowance for creative industry increased from $3.0 million to $6.0 million.

10. Pension for eligible daily paid workers at minimum of $3,500. 

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