Valley: Govt increasing social wages

Trade and Industry Minister Ken Valley said yesterday Government is looking to increase workers’ social wage as he opened the Trade and Investment Convention 2003 yesterday at the Hilton. The seminar, organised by the Trinidad and Tobago Manufacturers’ Association, RBTT and the Tourism and Industrial Development Company (TIDCO), included exhibitors from around the region. Valley said social wage includes access to good housing, cheap, reliable transport, proper healthcare and education.

“Thus money wage by itself does not determine the standard of living of the worker,” he said, adding that the plan to build 10,000 housing units a year over the next five years is part of Government’s plan to increase social wages. Government raised the minimum wage earlier this year and Valley said this was because it was concerned about wages at the bottom of the scale. Labour costs were one of the four areas Valley touched on four issues which impact on the manufacturing sector. The others were export competitiveness, industrial policy in terms of picking winners and integration. He said now that expansion is taking place in the energy sector, Government is turning its attention to make sure other sectors benefit as well. RBTT chief executive officer Suresh Sookoo said the business community in the region needs to invest in itself if it wants to develop.