Dear Mr. Byles:
I am shocked and almost angry at your most recent comments cautioning businesses against excessive pay rises for employees as the country continues to grapple with inflation concerns. You made these comments on or about August 21, 2023.
But only a three months ago, on May 22, 2023, you defended the massive increases in salaries for the political class, in some cases up to 300%, saying those increases would not affect the country’s finances.
Sir, do you really believe what you have said? And please do not make the trite and convenient excuse that there are only a few hundred members of parliament and councillors, so the impact of their massive increase will be inconsequential. There must be a higher logic and ethic by which you are governed.
The wife of the Prime Minister, who is a successful real estate developer has described her salary of over $1,000,000 per month as coming closer to a liveable wage. And I agree with her, a million dollars a month is about the right level of a liveable wage in Jamaica. But most Jamaicans earn less than $1,000,000 per year!
The wife of the Prime Minister, who is a successful real estate developer has described her salary of over $1,000,000 per month as coming closer to a liveable wage. And I agree with her, a million dollars a month is about the right level of a liveable wage in Jamaica. But most Jamaicans earn less than $1,000,000 per year!
Have you no heart Sir? Are you so heartless that all you care about is protecting the political class and macro-economic indicators? Do you place the comfort of the political class over improving the quality of life of the population? Where is the concern for human beings, the sense of morality which considers the larger good? Where is the balancing act which considers the stability of the macro-economic foundations and simultaneously the well-being of citizens?
Ethics, let me remind you, is concerned with the larger good and taking decisions which promote the larger good and in doing so takes account of multiple factors. What kind of society will we have when most people in this stable economic environment are poor or near poor?
Ethics, let me remind you, is concerned with the larger good and taking decisions which promote the larger good and in doing so takes account of multiple factors. What kind of society will we have when most people in this stable economic environment are poor or near poor?
Recall in 2016 when the government increased the income tax threshold to $1.5M, a mere 5% of the population benefitted. This means that 95% of the population was earning salaries below $1.5. Your position is the perfect prescription for the deepening of income disparities for the over 200% increase that the government gave itself and those close to the political class has wiped out the mere 20% that was given to public sector workers. The majority of workers are struggling or suffering Sir.
But at least we now know where you stand. When the BOJ’s monetary policies begin to hit us hard, then we will know that it is planned and intentional and that the objective is to keep the poor, working poor, and struggling middle class in their places. We can now expect a set of harsh policies. I wonder what your response will be when the oppressed and down-trodden working and middle classes (if ever the middle class were to attain consciousness to act) take to the streets and demand justice.
I wonder what your response will be when the oppressed and down-trodden working and middle classes (if ever the middle class were to attain consciousness to act) take to the streets and demand justice.
The plot is clear. The political class engorges itself with massive salary increases, and the financial experts argue that that is okay, nothing to worry about, then the said financial experts rush to the frontlines and tell workers to keep out for their expectations will harm them.
The plot is clear. The political class engorges itself with massive salary increases, and the financial experts argue that that is okay, nothing to worry about, then the said financial experts rush to the frontlines and tell workers to keep out for their expectations will harm them.
It is a consistent playbook, also echoed by your boss, the Minister of Finance: massive salary increases to the political class represent far-reaching, necessary, and courageous policy moves, but a better deal for workers will reverse “all the gains we have made”. Whose gains? Your position is a profound example of cruelty and unconscionableness.
Canute Thompson (PhD) is Professor of Educational Policy, Planning, and Leadership at The University of the West Indies (UWI) and Project Director of the UWI’s Governance Recommendation Implementation Committee. He is author of eight books, eighteen journal articles, and over 200 newspaper columns.
His most recent academic achievements include:
2023: Principal’s Award: Research Activity generating the most funds made to the Caribbean Centre for Educational Planning.
2022: Bronze place winner in the 2022 Independent Publisher Book Awards for the book, Education and Development: Policy Imperatives for Jamaica and the Caribbean.
2021: Finalist in The Vice-Chancellor’s Award for Excellence for all-round excellent performance.
Fully agree!
Unfortunately that is not how economics works.If it did theU.S,U.K,France,Germany et all would not have large percentages of poor people but they do.Byles’ economic theory is no different from that which is taught and practiced all over the world.No amount of Canute Thompson’s pleadings is going to change that.Unfortunate but realistic!
John, you gave examples of countries that are using this economic formula in their countries……what about those that are actually taking g care of their people in a humane manner? Show me the DATA. We are much too small to be compared to The USA ways of doing things economically. They are also in trillion dollar wars yearly…..what then?
Excellent point Lloyd
With all due respect to you sir, economic practices are subject to the political economy in which one lives. The old colonial economy that has been adopted therefore determines the fate of our people as demonstrated. This is the face of the not so new, “democracy” economy. Note the catch word. The social structure remains largely the same. Poor, working class, laborers, bear the burden for the idle, greedy, unscrupulous, unconscionable rich.
Fully agree with Professor Thompson. There are those who believe that with a large number of poor, they will always be rich and influencial. They will call the shots
Well said sir speak up.for us
Well said Dr. Thompson
Every middle class government should affix their signature to this letter.
I could not say it any better!
Someone had to saw it. Thank you Sir. It’s time for the people to act and stop sit by and watch us being taken for granted.
Thank you Professor Thompson! You have spoken on behalf of the voiceless, downtrodden classes of working people and professionals of this country! There is no longer anyone (save for one or two trade union leaders) who are prepared to speak up for the working classes; everyone else is in the race for scarce benefits of the system! Mr. Byles is becoming biased and irrational! He has lost credibility and moral authority to govern the BOJ. Time to go home Mr. Byles!
I don’t personally begrudge what people earn (or own) but when a man earning tens of millions of our tax dollars and who gets massive pay increases speaks with such insensitivity to the plight of the working poor and struggling middle class, it shows a degree of callousness and inhumanity that is mindboggling
What are you saying, if they supposed to get a billion Dallar and we still getting 20% you wouldn’t mind , as long as they are working good? Really
The governor of the BOJ is as egotistical as they come. A clear suggestion by him of creating a class of one set and an ass of another set.
Thanks for speaking on behalf of us the working class and the downtrodden people of Jamaica. The governor of the BOJ has no conscience and only care about his political friends and not for the working class
We shouldn’t let this go down the drain, we must take to the streets and protest. At Jamaica house, at the ministry of finance and at the politicians houses until there’s tired.
Until those in power come face to face with a conscientious citizenry which demands accountability, they will continue to fatten themselves at our expense
I have noted these comments. For those who believe that the economic model in place is the only viable one, I invite you to look at Finland where the gov practices social corporatism. Under this model, Gov places a leading role in balancing the interests of capital and labour. It is no wonder that Finland has been voted the happiest place on earth for 6 years in a row.
That s government elected by the people to protect the interests of the majority would appoint a Boyle’s to be Governor of the BOJ speaks volumes about the Holness administration. We, and I used the word advisedly, are a pitiable people hardly deserving of pity due to the levels of ignorance and stupidity. God certainly wouldn’t make a people so…
Thank you Sir well said, we are observing their play book with a critical eye.
You have missed the point that the goernor made re productivity. That is fundamental to his statement. Productivity has been on the decline in Jamaica for more than a decade while salaries have been on the rise for producing less goods. The inebitable result is inflation. That is basic economics.
Productivity? When you can barely pay bus or taxi fare and afford a decent lunch much less dinner when you get home, how will you increase productivity? Who is putting in place the standards and tools for this productivity? What is the Governments role in ensuring reliable, on time, sufficient and safe public transportation? Ensuring that the other costs of production do not increase out of proportion due to scarcities and price gouging. Why has the Government not increased the income tax threshold to $3 million so the small fry at the bottom can see a paltry increase.
Can we continue to batter-batter the people and expect productivity? More could be said.
If Jamaica must achieve the 2030 vision, the way in which the lower and middle class are treated in terms of meagre salary package has to be changed.
Thank you Dr. Thompson for speaking out for us.
The BOJ Governor is paid more than the governor of the French Central Bank and the US Central Bank ( Federal Reserve).
The government feeds on what is good and healthy while the working class feeds on the unhealthy scraps they can scarcely afford.
It does the government good to keep the masses poor, they are the voting majority.