Dialogue before minimum wage, Moxam urges

(CNS Business): The Chamber of Commerce supports the concept of a minimum wage, Johann Moxam, the Chamber president told CNS Business. But he said it was important that there was a detailed and comprehensive discussion with all relevant stakeholders on the way forward and on the impacts of the introduction of minimum wage legislation in the Cayman Islands.

“We would encourage the minister to ensure that the relevant expertise is in place to advice on this matter because getting it wrong is something that the country cannot afford,” he said.

Questions need to be asked before trying to “find a number that will appease people”, he said, such as, is there any sort of conclusive data that is being used to identify the number of Caymanians that the proposed legislation is trying to help?

“The Chamber of Commerce has met with the National Minimum Wage Advisory Council and we can see that there is some work that is being done on this matter. We would encourage them to ensure that there is concrete statistical data to support whatever the policy decision is,” he said, adding that it is still unclear exactly what the policy is attempting to fix.

It’s imperative that this issue is discussed with the widest cross section of people possible, he said, “particularly the business community, because at some point there is a number that businesses just cannot afford.” He said we have to identify what that tipping point is so the minimum wage doesn’t cause more damage that intended.

Tags: Chamber of Commerce, Johann Moxam, minimum wage

Category: Local Business, Video