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BERMUDA MULLS MINIMUM WAGE INCREASE

UK Territories 19 May, 2021 Follow News

BERMUDA MULLS MINIMUM WAGE INCREASE

The Bermuda government is reviewing recommendations for a minimum wage averaging between $13.20 and $17.30 with a median range of $15.75 per hour.

The territory’s Wage Commission chairman, Cordell Riley, reported that they reviewed a sample of countries to understand the range of minimum wages applied.

“I must note that Switzerland has the highest minimum wage at $24.76 while Turks and Caicos have the lowest at $6.25.”

However, he said when comparing the cost of living of those countries to Bermuda’s, all had a lower cost of living.

In its report, the Wage Commission said most modern, developed countries have a minimum/living wage regime.

Mr Riley said, “Among the more developed nations of the world, Bermuda is among the few that does not have a minimum wage, and the goal is to remove us from that list.”

The Bermuda Wage Commission chairman said their research outlined the many benefits realised by employers and employees in countries where a minimum and/or living wage has been instituted.

“With the establishment of a minimum and liveable wage, Bermuda can benefit from the lessons learned in these countries,” Mr Riley said.

The report is to be presented to the Bermuda House of Assembly this month.

The Bermuda Chamber of Commerce, while welcoming the report, has pointed out the potential impact on the cost of living, especially with higher prices for some goods and services.

It has also raised the prospect of some businesses not being able to function with the added costs.

The Commission began its work in earnest last February looking into establishing levels for minimum wage and a liveable wage in Bermuda.


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