Rishard Khan
A final decision on changing the minimum wage is expected in coming weeks, according to Minister of Labour, Stephen Mc Clashie.
Mc Clashie told Guardian Media the Cabinet has been deliberating the change over the last three weeks and he anticipates a final decision within the next two weeks.
Currently, the minimum wage sits at $17.50 per hour with the Joint Trade Union Movement (JTUM) calling for it to be increased by almost 100 per cent to $30 an hour.
However, the Minister chose to keep details of the figures being considered close to the chest when asked by Guardian Media if Cabinet saw this suggested increase as a viable option.
"I wouldn't even want to go there. Suppose we say $35, or $17, $18. So I would not venture into giving...any percentages or fixed quantum," he said.
Describing the deliberations as "complex", Mc Clashie reiterated that the final decision would, and must, be a figure that does not do more harm than good.
"You do not want to put a wage that spirals inflation and, in fact, has the opposite effect of what you want to put in place. It's a dynamic that has to be balanced between the needs of people and also the outcome with regards to the impact on the economy," he said.
Economists like Dr Marlene Attzs expressed similar concerns about the impact an increased minimum wage will have on inflation.
During his contributions during the 2023 Budget presentations in Parliament in October, Mc Clashie revealed the Minimum Wages Act was among the legislation to be reviewed. In June, he revealed that the Minimum Wages Board made recommendations to adjust the minimum wage before the call was made by JTUM president, Ancel Roget on Labour Day.
MC Clashie was unable to say when an announcement could be expected of Cabinet's final decision.
"I cannot say now but more than likely if I had to do it my way, I would probably do it within the budget and that's on a personal note. That is not a formal position," he said.
Minimum wage was last adjusted in December 2019 to $17.50- four years after it was raised to $15 in 2015.