Minister of Finance Camillo Gonsalves, after successful negotiations that lead to a seven percent salary increase and reduction in taxes, is looking for a continued spirit of cooperation on pension reform.

“I am sincerely thanking the labour movement, of course, in the future we will have disagreements, but as a labour government we will always err on the side of the workers in trying to resolve any disagreements that we have, and  I am sincerely thanking them, and I am asking that we continue this spirit of collegiality and cooperation as we tackle the very important issue of pension reform.” Gonsalves said.

The Finance Minister said that the existing pension reform structures are not sustainable in the long run, and will need to be adjusted, noting that they will need to be cautious and careful with whatever adjustment made.

“We don’t want to adjust them in any way that is unilateral, in any way that is disadvantageous to existing workers,” he said.

The Finance Minister said the Government wants to have a conversation that focuses on the reality of the sustainability of the pension system; going on to say that it is hope that those consultations are as quick and fruitful as the one that has just concluded.

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