Private enterprise must do more – CTUSAB

The umbrella body for trade unions in Barbados has taken the private sector to task for its failure to help speed up the implementation of pending capital projects in the island.

In addition, the Congress of Trade Unions and Staff Associations of Barbados (CTUSAB) has described as “sadly lacking”, the level of investment by corporate Barbados to drive project implementation.

“The roll-out of Government’s capital works projects has not been moving apace as anticipated, and the level of investment by corporate Barbados to drive the implementation of projects, has been sadly lacking,” CTUSAB’s general secretary Dennis De Peiza has said.

De Peiza reminded the private sector that it is required to play a more decisive role in the economic recovery of Barbados, by doing its part in identifying and investing in projects which will help provide employment opportunities for the over 40,000 Barbadians who are now unemployed.

“The private sector as the engine of growth in the society, must understand that by investing in and creating new projects, the nation stands to benefit from job creation. Job creation must be seen as the way forward for the Government to improve on its fiscal revenues, as workers will pay taxes and contribute to the National Insurance Scheme,” De Peiza said.

“Labour contends that while on the one hand the current trend of layoffs, retrenchment in the public service and private sector will help to reduce expenditures through the saving of wages and salaries, this is nonetheless counterproductive to the economic growth and well-being of the island,” he added.

De Peiza said the trade union body is satisfied that successive Governments have executed their regulatory functions in spurring the development of private sector investment and the promotion of public-private sector partnerships.

“Now that the current administration has removed the corporation taxes, the private sector has no excuse in its failure to invest in new projects and business ventures. The Government of Barbados and the private sector can be assured of the support of labour where concerted efforts are made to bring on stream new projects and business ventures that are designed to absorb Barbadian labour,” he has assured.

According to him, labour recognizes that the added value would be realised in the improvement in the gross national domestic product and the growth of the country’s healthy foreign reserves position.

“Notwithstanding the uncertainty and constraints which prevail as a consequence of this COVID-19 environment, labour maintains that no effort must be spared in an attempt to get Barbadians back to work, if the economy of Barbados is to stabilize itself and recovery is to be assured in the short-term,” the union leader stated.

Against the backdrop, De Peiza is encouraging the private sector to assist the Government of Barbados in a regimen of regular testing, by exploring all avenues to be able to offer these tests to all employees. Such a private sector investment in its workforce would be to everyone’s benefit,” he suggested.

Up to the time publication, efforts to reach Chairman of the Private Sector Association Ed Clarke and President of the Barbados Chamber of Commerce Trisha Tannis were unsuccessful.