PSU Pushes for Compensation Review and Private Sector Cuts

The Public Service Union (PSU) is seeking adjustments to public sector compensation packages to help offset financial losses sustained over recent years. In addition to wage adjustments, the PSU is also calling on the government to review its financial support to the private sector. Love News spoke with PSU President, Dean flowers who urged a reassessment of the loans and investments directed toward private enterprises.

Dean Flowers, President, PSU: “We’re saying that we’re not asking for the retroactive payment and all that we’ve sacrificed. We’re simply saying reinstate those increments and as a result of the sacrifice that we would have made please give us an adjustment to offset what we lost and we will never be able to offset what we lost so it’s merely a small compensation especially given the high cost of living in which inflation has eaten up almost 20 or 25% of our salaries. So I think it’s a fair ask especially given the billions, with a B, billions of dollars in tax concession collectively that this administration has given out in five years. Billions of dollars. There has also been millions of dollars given out in tax concessions to the private sector.”

Union President Flowers underscored the importance of gauging the effectiveness and fairness of these concessions. The PSU believes that a thorough review is necessary to determine whether such incentives are truly benefiting the broader economy or disproportionately favoring private interests at the expense of public resources.

Dean Flowers, President, PSU: “While our budget speaks to $1.7 billion I can say to you had the government taken a different type of investment approach to ensure that all concessions that are given out, that they meet whatever commitment they’ve given. So if it is that they’re saying okay I am investing $200 million dollars the government ought not to be giving out 20 and 25 years tax concessions on everything. The government should be saying do your investment, we’re prepared to have you recover that investment but we’re not prepared to have you earn ten ties that amount while not paying us a single cent in tax. And so the investment model needs to change. It has to be performance based meaning do what you commit to do and then we allow you to recover your investment but you must be able to contribute to the growth and development of this country immediately after recovering those investments and in some cases some investors will never contribute. And so the fact that the government continues to give these types of blanket concessions out thereby depriving the Belizean public of taxes we’re saying man if you will continue to behave this way then it is only fair that we also benefit from these types of concessions. And we’re not asking for concessions. We’re asking for the return of what we gave up to assist you to experience this type of growth.”

The PSU has indicated its readiness to enter into negotiations with the government, aiming to resolve ongoing tensions through constructive dialogue.