Public sector unions announced on Tuesday that an agreement had been reached with Government on salary increases and tax adjustments. From left: Gweneth Baptiste Stoddard, the first Vice President of the Public Service Union(PSU); Elroy Boucher, President of the PSU; Oswald Robinson, President of the SVG Teachers' Union, and Corporal Germano Douglas, Chairman of the Police Welfare Association(PWA)
Breaking News
September 20, 2022
Unions, government agree on terms of wage increases and tax adjustments (+video)
The Government and workers’ unions have come to an agreement on the terms of wage increases and tax adjustments.
At a press conference on Tuesday, September 20, President of the St Vincent and the Grenadines Teachers Union Oswald Robinson announced that there will be a wage increase over three years; an increase in the standard deduction for Personal Income Tax; and a reduction of the top marginal rate for Personal Income Tax.
The details are as follows:
1) A wage increase of seven percent (7%) over three years as follows:
(a) FY 2023 – 2.5%
(b) FY 2024 – 2.0%
(c) FY 2025 – 2.5%
2) An increase in the Personal Income Tax standard deduction to $22,000 [from $20,000]
3) A reduction of the top Personal Income Tax marginal rate to 28% [from 30%]
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