Wednesday, August 10, 2022

Saint Lucians Get Financial Support To Cope With Inflation

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Prime Minister and Minister for Finance Hon. Philip J. Pierre has ensured government pensioners are provided with immediate financial support to offset the effects of inflation.

Furthermore, Hon. Pierre has lauded the National Insurance Corporation for increasing its fixed pension rate by 4.2% commensurate with today’s Consumer Price Index.

More from Rehani Isidore:

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Source: Office of the Prime Minister

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Editorial Staff
Editorial Staff
Our Editorial Staff at St. Lucia Times is a team publishing news and other articles to over 200,000 regular monthly readers in Saint Lucia and in over 150 other countries worldwide.

16 COMMENTS

  1. So we in the private sector who earn 3 to 5 dollars an hour what are we getting to cushion the high rate of inflation we are the ones who vote the government in power but they refuse to enact a livable wage, why don’t the labour department call all private sector businesses and tell them to increase the hourly rate to 8 dollars an hour

  2. So what happened to the private sector? Mr. PM please increase the minimum wage. We are all feeling the squeeze. Ease it for us too.

  3. you know something i believe this increase may not be fare. the reason i say so there are certain public servants that have very huge salaries and the inflation does not touch them cause they are well off. are they getting the increase as well? it should be certain public servants that get certain minimum salaries that should get this increase.

  4. St.Lucia times! Who you think you fooling with this headline? It seems like you’ll working for the SLP?…….disgraceful!

  5. “The Castries East MP, responsible for Finance, also revealed that discussion with the National Insurance Corporation (NIC) had yielded an agreement to give all pensioners a four and a half percent increase.”

    You made this statement in a previous release. You claimed that it was through your discussion a 4.5% increase was given. That is a big lie. Where in the NIC regulation you have the power to do this? You didn’t even know it was 4.2% percent, idiot. That increase is given every 3 years.

  6. Listen, I think we should be grateful for what we have gotten however giving people money is not the solution…

    This is not different than telling people “hey I’m going to increase prices by 50% but hear that, I’ll give you 500 dollars”

    As much as it’s something, we need to look for ways to reduce inflation not handing out temporary paycheck.
    All this will do is raise inflation and increase prices. Giving out money is a temporary solution which leads to more recession and more hard times later on.
    When people said printing money is a good thing…. Look what happened when we did that. It destroyed the economy

  7. Pierre and his cohorts will say anything to detract from their incompetence.
    In one year they have done NOTHING about job creation. Our unemployment must be near or over 20% and 40% for the youth. There were no concrete plans by the Labour Party to address this.
    For the average worker inflation feels like it is around 15% so a $10,000 wage from last year is only worth $8,500 today and we are feeling it bad.
    Seriously our people are falling into poverty and there are no focused realistic plans or policies to make any difference. And I mean REAL poverty in just trying to pay electricity and water Bill’s.
    We do not even know what ministers are doing on a daily basis to earn their $150,000 salaries. The foreign affairs man has gone moo moo. The only time he appears is to try a Bro George ting with his speech. How many trips has he done for the year in power: 6, 12, 18. What has he brought to the table – NOTHING!
    Doctors fees gone up, water gone up, electricity gone up, food gone up, gasoline gone up, spare parts gone up, tyres gone up, WAGES gone down.
    The shock is the callous disregard Pierre, hillaire, etc have for this degrading of the economy and fall in the standard of living.

  8. Thanks but No thanks! 4.2% of $1700.00 i.e. $71.41. This cannot even pay my electricity bill and can’t compensate for groceries. Please target the suppliers of goods and services!!!!!! This is where you start. Sorry state for the ECCB Monetary council

    • True..but multiply $71.41 by 12 and you will observe it is much more than the one-time payment of $500 to CSA pensioners. That amount of $71.41 is a Cost of Living adjustment which continues into the years ahead.

      So you have contributed to NIC, but now for political tribalism you will mislead others by saying “No thanks,” to your increase. When it comes to your account, you know what?..TRANSFER IT TO ME.

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