The Employers’ Consultative Association of Trinidad and Tobago believes the 2023/24 budget presentation was a measured and reasonable attempt to consolidate and rebuild in the aftermath of a very difficult pandemic period and in the face of ongoing national and global developments and disruptions.
ECA said it was encouraged by the reported reduction in unemployment rates, which stands at 3.7% of the labour force.
It explains the uptick in the labour force participation rate is encouraging, though just over 8% lower than a decade ago, and it hope this trend continues in the right direction.
ECA says the commitment to release backpay by Christmas 2023 to public servants who have settled wage negotiations is a welcomed pledge and a fruitful culmination to long-standing negotiations that it hope materialises.
It also gave its views on matters relating to crime, education, value added tax refunds, labour institutions, small and medium enterprises and foreign exchange, Industrial Development/Diversification and Digitalisation.