Despite expecting an announcement of increased revenue in today’s mid-year budget review, former Finance Minister Karen Nunez-Tesheira is warning that now is not the time to increase salaries.
Finance Minister Colm Imbert will deliver the Government’s Mid-year Budget Review in Parliament today.
It is expected that approximately $3.08 billion in supplementary funding will be allocated for fiscal 2022.
That money is expected to come as a result of the recent increase in energy prices.
However, in what will come as a blow to trade unions bargaining for increased wages, Mrs Nunez-Tesheira told News Power Now, that the additional income should not be spent on hiking salaries across the board.
Instead she believes that focus should be placed on helping those who need it most.
The former Finance Minister said that had she been Finance Minister, she would have also focused on supporting diversification through greater investment in two particular Ministries.
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