Prime Minister, the Most Hon. Andrew Holness, is encouraging Jamaicans living overseas to join in spreading the message about the importance of increasing productivity in the economy.
“We need to address the issue of productivity. Even if we were to radically increase wages and radically increase the minimum wage, if that is not sustained by a commensurate increase in productivity, then those increases become inflationary,” he said.
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Addressing the 10th Biennial Jamaica Diaspora Conference at the Montego Bay Convention Centre in St. James on Tuesday (June 18), Mr. Holness said members of the diaspora can play an integral role in conveying the productivity message to their families in Jamaica.
He pointed out that improved productivity forms part of the public policies in the countries where members of the diaspora reside.
“The policies that we’re trying to implement are the same policies that you are, every single day, observing in the countries from which you come. Efficiency and productivity are hallmarks of [the] developed societies in which you are. They are not viewed as an imposition. Every single worker understands and appreciates that, ‘Yes. Because I have produced more, I have a claim for more pay,” the Prime Minister reasoned.
Mr. Holness maintained that “[this] is a culture that we need to build here in Jamaica”, adding that ‘you (diasporans) can be of great assistance to us to make that connection”.
“[So], yes, Government can increase the wages but if we are increasing the wages without addressing productivity, we are only tricking you, because that increase is going to come back as high inflation.
“So the two-pronged strategy [is] we’re increasing [wages] as much as we can whilst balancing the inflation so you don’t have to suffer from that. But we must now be on this very rigorous pathway of producing more,” he emphasised.
The Prime Minister further underscored that consequent on the improvements recorded in the country’s macroeconomic conditions, increased productivity is required for all Jamaicans to reap more benefits, including high wages that are sustainable.
“We’re increasing at about one to two per cent… our growth… is now sustainable. [So] it is [now about] an increase in the productivity, not just of labour… not just of the worker but how management is structuring business processes and workflows, how are we integrating technology in our business processes and workflows, how are we creating new products… this business of innovation,” Mr. Holness said. (JIS)
