St Kitts and Nevis: Prime Minister of St Kitts and Nevis, Dr Terrance Drew has announced the 8 percent hike in the wages of minimum wage workers in the country. The increment in the minimum wages will be implemented starting from January 1, 2024.
As per the announcement made by Dr Terrance Drew during budget address, the minimum wage for the people of St Kitts and Nevis will increase from $9 per hour (EC $360.00 per week) to $10.75 per hour (EC $430.00 per week.)
In addition to announcing the increase in the minimum wage, he also made many other significant announcements. These include:
- Corporate tax reduction,
- Increase in Social Security Pension
- Financial Education and Savings Programme
and more initiatives of the governments.
The Prime Minister said that he is dedicated to ensuring that all the people of St Kitts and Nevis are benefitted from the budget of 2024. The people were waiting for the increase in the minimum wage for almost a decade.
He also asserted that the Drew led administration has taken the needs of the people into account and delivered the increased wages. The government wants to improve the standard of living for the people through their policy initiative.
Through the increased wages, Dr Terrance Drew added that his team is seeking to empower the people of St Kitts and Nevis. In his budget address, Dr Drew argued that by providing a fair and liveable wage, they want to ensure that people can support themselves and their families without financial strain and insecurity.
The Prime Minister further announced that they will introduce further increase in the minimum wages of the people in the coming years. PM Drew said that starting June 1, 2025 the workers will see further increase in their minimum wage.
National Minimum Wage Advisory Committee has also appreciated the government’s decision to increase the wages. Meanwhile, the Minister of Finance shared that the government wants to motivate the workers with the wage increases.
He said that with the motivation, the people of St Kitts and Nevis will be more productive and play a more significant role in the development of the country.