St Vincent and the Grenadines Public Service Union and the SVG Teachers Union are expected to meet with the Minister of Finance Camilo Gonsalves on Tuesday 6th September 2022, where they plan to discuss several proposals submitted to the Government.
The Unions said in a press release that the proposals include a 10% percent salary increase, a standard deduction for personal income tax and a temporary reduction in VAT from 16% to 10%.
See the proposals below
- A salary increase of 10% over a period of two (2) years. 4% to be given retroactively from January 2022 and 6% from January 2023, which both lie below the forecasted GDP growth by ECCB and IMF for the stated period.
- Raise the standard deduction for Personal Income Tax from $20,000 to $25,000.
- Temporary reduction of VAT from 16% to 10% — Temporary reduction of import taxes on essential items, thereby lowering their cost for every individual who imports those items.
- Price control — At least one government has capped the price of fuel as well as certain food commodities.
- Temporary suspension of the 1% increase on Customs Service Charge… among other things.
- Reduction of Income Tax (details have been submitted)
The Unions say they look forward to a fruitful negotiation with the government.
