Budget Day - October 2nd 2023

[paid_influencer]

That budget debate still going on all now. Them people and dem have no heart? This is elder abuse since is alot of ole dinosaurs in that parliament.

i remember budget debate used to go for all hours in the night. this is nothing new or even exceptional really

I think kamla did say the govt using forex to snuff out SME competitors to the so-called elites. I think she right but nobody care apparently. we like the economy to function like that

[DMan7]

Yea but that's in the past, them not that young anymore, this could be affecting their health waking out debating soo late.

[paid_influencer]

MP for Moruga say she have hundreds of graduates in her constituency but not jobs

[MaxPower]

I used to watch Parliament channel when it did now come out. I genuinely liked it and would watch it for hours at a time. Nowadays I cannot justify the time sink.

so anybody take een kamla for she 3 hours speech? she say anything important?

Didn’t even know she was speaking……

[bluefete]

I used to watch Parliament channel when it did now come out. I genuinely liked it and would watch it for hours at a time. Nowadays I cannot justify the time sink.

so anybody take een kamla for she 3 hours speech? she say anything important?

She say is her fault!!

[paid_influencer]

https://newsday.co.tt/2023/10/06/imbert ... ributions/

NEWS
Imbert: A third of Trinidad and Tobago’s workers don’t make NIS contributions
RYAN HAMILTON-DAVIS YESTERDAY

Where are the 200,000 people who work, but are not listed on the National Insurance scheme?

This question was raised by Finance Minister Colm Imbert, who along with the business community, defended the Government’s decision to increase the retirement age from 60 to 65, during the Trinidad and Tobago Manufacturers' Association's (TTMA) post-budget discussion at the Hyatt Regency in Port of Spain on Tuesday.

Imbert revealed that almost a third of the labour force in TT is not registered with the NIS.

“There is an interesting statistic that I discovered some years ago,” Imbert said. “Our labour force is around 600,000. But the number of people on the national insurance scheme is 400,000.

"So where are the 200,000 people?"

“You have a number of businesses who are not making their NIS contributions on behalf of their employees,” added TTMA president Ronald Roach.

“They go below the radar, and if the net is widened and we get contributions from more businesses, then that could help.”

Imbert described the move to raise the retirement age from 60 to 65 as “necessary and beneficial” on Tuesday.

He said the increase would significantly solve the deficit issues the National Insurance Board faces.

“More and more people are coming on to the insurance benefit scheme in terms of being in receipt than there are people coming in at the bottom in terms of the contributions. That has to be dealt with.”

He added that while some unions have been vocal about their disagreement with the higher retirement age, others have supported the idea. He said regardless of the debate, people are more productive at a higher age today than they were in years past.

“The NUGFW was demanding that we increase the retirement age, but the Public Services Association was demanding that we don’t increase the retirement age. The fact of the matter is that people are productive way beyond the age of 60.”

Roach also noted that, for businesses, increasing the retirement age made more sense than losing a capable and experienced employee.

“We asked ourselves, if you had an educated, skilled talented, able-bodied individual working in our organisation, would you want that person to retire at 60 simply because there is some regulatory ban? In most cases the answer is no, you want to retain the people who can continue to contribute to the growth and development of the corporation.”

“I always have difficulty (understanding the pushback),” Imbert added.

“If you are earning a salary, it is always going to be one-dimensional. In some cases your pension may be very small. Some don’t have a pension at all. Therefore why would you want to give up an extra five years of earning potential?”

yes, he has difficulty understanding the pushback from setting the retirement age above average life expectancy.

workers suppose to work till they dead, apparently.

this does get me... the owners of capital are the ones that reap all the benefits of a worker's labor. They give back the worker a small amount as a wage, but the vast majority of the fruits of labour becomes the private property of the owners of capital.

So why do retirement funds have to be taken from the worker's wage? Should not all the costs of retirement be drawn from those who gain the most benefit from that labour -- the owners of capital (the bankers, the factory owners, and the state as a whole) -- and based in proportion to the monetary value extracted from said labour (i.e., taxes as a percentage of company profit) ?

I really for the life of me do not understand why minimum wage earners have to have NIS deducted from their salary when the 1% in society are declaring billions in profit off the labour of those same minimum wage earners. Retirement should be a state-level process and shared according to the principle, from each according to their ability, to each according to their need.

well we ent riot yet so I guess it ok. they going to work we until we dead, to make sure we too tired to riot. i ok i ok

[pugboy]

allyuh see the part where leonce talk about how they help east pos gangsters get their company contractor documents in order for getting procurement contracts

[zoom rader]

One set ah Jack arses

Was it workers that cause the deficit issues the National Insurance Board faces.

Or is it bad investments coming from idiots that run NIS and the Red mis government