PUBLIC SERVANTS are getting more time to hear details and put in their two cents worth on the Barbados Optional Savings Scheme (BOSS), but even if they all reject the plan, Government says it will still achieve its objective of shaving $110 million per year off the public sector wage bill.
This is according to Government’s senior economic advisor Dr Kevin Greenidge, as he again touted the Mia Amor Mottley administration’s proposal for public workers to surrender a percentage of their salaries in exchange for short-term bonds.
“In the extreme scenario that every public sector worker says that they do not want this bond, it has been so cleverly designed that the objective is still achieved,” he said on Starcom Network’s Brass Tacks Sunday call-in programme on May 31.
“So if the public sector worker says that they do not want this bond and that they want their cash, at the beginning of the month that person indicates their preference, behind the scenes Government pays the worker still while at the same time issues instructions to take the bond to Central Bank, which purchases the bond immediately,” Greenidge explained. (CLM)
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