MNT queries Central Bank

“The MNT categorically rejects Governor Williams’ inflation-fighting techniques and like Paul Quesnel, president of the Trinidad and Tobago Manufacturers Association, believes that ‘wage increases were necessary for the basic survival of many people in the society’.”

The MNT said the Government should slow down construction (except house-building) which is sending up the cost of construction materials, and subsidise agriculture. Such a move, said the MNT, would have three effects. It would increase available public funds including allowing greater deposits to the Revenue Stabilisation Fund, slow inflation, and allow for moderate increases in salaries and wages.

“The MNT calls on Governor Williams to implement a non-discriminatory and independent inflation-fighting strategy as mandated and to desist from validating and labelling government development policy as ‘legitimate’, a comment the MNT deems political and not monetary as required of the Central Bank.”