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Jun 22, 2022

G.O.B. Finances & Meeting Commitments

Henry Charles Usher

Will reinstating the ten percent adjustment for teachers and public officers have a negative effect on the economy? As it currently stands, there is a cap on the retail price of diesel and regular gasoline and the subsidizing of sixteen-ounce sliced bread – all these have a financial impact on public reserves. Minister Usher was asked how this affects government’s ability to meet its financial commitments.

 

Henry Charles Usher, Minister of Public Service

“Whenever you look at the finances of the country, nothing operates in a vacuum; everything has an effect on the next side. When we had those discussions for the fuel capping and not increasing the price of the sixteen-ounce bread, it was a long very tumultuous decision in cabinet on various sides because we did not want it at all to affect the public officers getting back their salaries. So we always made sure that whatever decisions that we made; that it would not affect the July first announcement that the salary would be returned – that was the number one priority. But we had to make sure that we held down the price of diesel and the price of regular fuel. People are complaining about the price of premium, but we made a decision that we can’t hold all of them down; it would be too much of a financial impact on the country. And there is an option, if you don’t want to put premium in your vehicle, you can put regular. So we figured that that would be a compromise that would be accepted. None of these will affect the July first announcement, the July first return of the salary, but of course, we have to continue to monitor external events that have an impact on our country.”


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