BPSU: “A Tripartite Consensus Is Key”
“As we move forward in these uncertain times, we must remember that in order for there to be fair and equitable outcomes as well as the effective implementation of human-centered economic initiatives, a tripartite consensus is key,” the BPSU said, adding that “a tripartite approach that includes the Government, the Private Sector and Unions, creates a sense of ownership for all stakeholders.”
BPSU’s General Secretary Kevin Grant said, “Both the International Labour Organization [ILO] and the International Trade Union Confederation [ITUC] have endorsed the need for governments globally to embrace the concept of social justice being a key component of ensuring a human-centered global economic recovery.
“In support of its position, the ITUC ‘… have declared to all international governing bodies for a Social Contract to be established to put the worldwide economy in the service of humankind, as it will provide the foundation for democracy, equality and the resilience required to face and overcome challenges.’
“As we move forward in these uncertain times, we must remember that in order for there to be fair and equitable outcomes as well as the effective implementation of human-centered economic initiatives, a tripartite consensus is key. A tripartite approach that includes the Government, the Private Sector and Unions, creates a sense of ownership for all stakeholders. It also supports and encourages discussions that embrace diversity. This type of collaboration bridges the gaps that exist; gaps which can hinder the goodwill and spirit of consensus-based dialogue and respect for all parties involved.
“With this context, let us consider the recent implementation of Bermuda’s minimum wage. This crucial step is but one of a number of initiatives that will be essential on the road to a human-centric approach to an economic recovery. According to the ILO, some 327 million workers, or 19% of the world’s workforce depend on the minimum wage. International trade union organizations have acknowledged that there is still work to be done in this area, noting that many workers in jurisdictions where there is a minimum wage still have no access to a livable wage.
“Now that Bermuda has finally joined the many socially progressive jurisdictions that have a minimum wage, we must build upon what has been established. Will there be a need to monitor this new legislation? Of course! Through effective monitoring, we can determine any anomalies that may occur, track the impact this legislation has on current labour conditions, and establish the trajectory to ultimately achieve a livable wage.
“We are all familiar with the cliché that ‘Bermuda is another world’, however, until we embrace the reality that we are part of a Global Society and do away with the politicization of critical initiatives like this, we will continue to stifle the progress required that will ultimately prove beneficial for all parties involved.
“In addition to the minimum wage, there have been other initiatives that have been identified as part of the Government’s economic recovery plan including vertical farming, lowering interest rates to reduce mortgage costs, improvements to water and waste treatment, national re-employment and youth employment strategies, and initiatives within the Economic Empowerment zones. These initiatives all seem to be on-track; however, they will need to be monitored through open dialogue and consultation.
“Although progress in these areas may be encouraging, there are other initiatives that must be addressed as a priority including:
- national unemployment insurance,
- health insurance costs, and,
- pension reform.
“These critical initiatives must be on the front burner. This is especially true given the projection that a quarter of Bermuda’s population will be over the age of 65 years by 2026. When we live in a country that arguably pays the highest in the world for healthcare coupled with the high cost of living, clearly there will be challenges with this demographic if we do not make the concerted effort to address these challenges.
“With this backdrop, we cannot allow for the focus of such critical initiatives to be interrupted by unwarranted negativity as opposed to having the necessary positive public investment. There are established forums where we must continue with the necessary open dialogue. This, however, should not limit the possibilities of elevating the tripartite discussions to an arena that will encourage solution-oriented discussion with a human-centered approach.
“We each have a responsibility to encourage the participation required to invigorate the appropriate dialogue. It is through these conversations that the essential buy-in will occur, and ultimately put Bermuda on the correct trajectory to economic recovery.”
“A tripartite approach that includes the Government, the Private Sector and Unions, creates a sense of ownership for all stakeholders.”
Well, that answers one question then. New investment in Bermuda will come from a combination of Government, Unions and the private sector. It’s good to see the unions investing their money in the businesses at which their members work.