Business leaders tight-lipped on possible NIS rates rise

Leaders of  the top business organisations throughout Trinidad and Tobago yesterday said they were not ready to comment on the proposed rise in National Insurance contributions.

Some National Insur-ance contributions made by employees and em-ployers are expected to jump by close to 50 percent in the next six weeks. Anthony Hosang, president, Trinidad and Tobago Manufacturers Association (TTMA) said he was not in a position to comment at this time. “We are looking into it. We have received a presentation from the National Insurance Board (NIB), but we are not in a position to make a comment.” Hosang said he was also awaiting a report on the matter from a committee in the TTMA. A spokesperson for the Trinidad and Tobago Chamber of Industry and Commerce said they were also currently reviewing the presentation made by the NIB and will comment on the matter in a timely manner. Speaking at a post-Cabinet news conference last week, Prime Minister Patrick Man-ning said the Govern-ment had given a commitment to increase the National Insurance benefits and “that commitment will be honoured.”