NASSAU, Bahamas — The Progressive Liberal Party’s (PLP) plan to push an increase of the private sector minimum wage would no doubt adversely impact some people, but would benefit the majority of workers, businessman and developer Sir Franklyn Wilson said on Tuesday, The Nassau Guardian reported on Wednesday, March 10.
In its economic plan released earlier this week, the PLP stated that if it won the upcoming general election, it would recommend to the National Tripartite Council that it move towards a minimum wage of $250 per week in the private sector.
The announcement has garnered broad discussion and criticism across the business community, with some fearing their businesses would fail if they are required to pay more than the current $210 per week minimum wage.
Sir Franklyn said in some matters of the economy, the benefit to the majority would outweigh the minority and it’s up to the government to find ways to mitigate the impact on the minority.
“The nature of the Bahamian economy is such that… there are two things, its size and its also certain, specific industries. There is a category of businesses based on size and industry for whom that increase will not be a problem at all. There are some businesses that are small, there are some people who are domestic workers – forget businesses, a maid in someone’s house – that person may find it a struggle to pay that extra $40,” Sir Franklyn told Guardian Business.
“So, there’s no doubt that there are some people that it might be a struggle, but the summary point in my opinion is that you can’t find any economic policy that’s good for the majority that will not lead to some difficulties for the minority. So, this is a case where I am convinced that it will be helpful for the majority and you have to find some way to mitigate the minority who are adversely affected.” See complete Nassau Guardian article at https://thenassauguardian.com/sir-franklyn-minimum-wage-hike-would-impact-some-benefit-majority/
