Jamaicans are going to continue getting poorer due to the policies of the government!
That’s the word from Opposition Spokesman on Finance, Audley Shaw.
Mr. Shaw was reacting to comments by Bank of Jamaica Governor, Bryan Wynter, who says the economy is exhibiting unprecedented levels of resilience to inflationary shocks such as depreciation.
Audley Shaw says Jamaicans will have to contend with even greater levels of poverty under the PNP administration.
Mr. Shaw says the policies being pursued by the Simpson-Miller administration, are reducing the real wages of private and public sector workers.
Mr. Shaw says given the high levels of imported inputs in locally manufactured goods, the government’s current policies will not result in increased exports.
Mr. Shaw says local manufacturers have had to keep wages low in order to survive.
This as wages are the only factor of production over which they have significant control.
But Economist and member of the Economic Planning Oversight Committee, EPOC, Ralston Hyman, says even if real wages fall in the short term, it will foster investments and higher wages in the long-term.
But Economist and member of the Economic Planning Oversight Committee, EPOC, Ralston Hyman