BEC: Let the Board handle future minimum wage adjustments
The Barbados Employers’ Confederation (BEC) is urgently calling for all future minimum wage adjustments to go through the Minimum Wage Board.
In a statement today it said: “Let the Board do the work it was established to do—so decisions concerning minimum wage are fair, sustainable, and truly serve the best interest of workers, employers and the national economy.
“The Barbados Employers’ Confederation (BEC) supports a fair and balanced approach to minimum wage determinations—one that protects the welfare of workers while safeguarding the viability of businesses across the nation. However, we note with concern the recent Budget announcement of predetermined minimum wage increases scheduled for 2025 and 2026. This decision, made before the Minimum Wage Board has completed its mandated review, departs from the established process of tripartite engagement and pre-empts the Board’s critical role in analysing economic data, consulting stakeholders, and subsequently presenting recommendations for any proposed minimum wage adjustments based on the evidence”.
The BEC stressed the importance of respecting this process noting the Board was created to ensure decisions are informed, inclusive and sustainable.
“Implementing increases without comprehensive analysis risks significant economic consequences. Minimum wage changes do not occur in isolation—they create ripple effects that raise operating costs, which might put a strain on business sustainability, and, regrettably, threaten job creation — or, in severe cases, result in job losses. We reaffirm our commitment to fair and equitable pay. At the same time, adjustments to the minimum wage must be approached with careful consideration, ensuring they are balanced against broader economic realities and sector-specific factors critical to sustaining growth and employment.
If the minimum wage is subject to frequent, unreviewed annual increases, it introduces instability and unpredictability into the market, which ultimately risks placing undue pressure on the very businesses and workers the policy is designed to support”.
The post BEC: Let the Board handle future minimum wage adjustments appeared first on nationnews.com.