In the context of collective bargaining, the issue of productivity needs to be urgently brought to the fore. This was the recommendation of Governor of the Central Bank Ewart Williams who addressed members of the media in Parliament yesterday after a meeting of the Public Accounts Committee.
The meeting examined the audited financial statements of the Heritage and Stabilisation Fund for the year ending September 30, 2008. Saying that in the final analysis industrial relations issues needed to be examined on a "case by case basis," Williams added, "It is difficult to make a broad statement to the extent that unions should look for jobs rather than income.
"But if there is any statement (it) is I would like to see productivity coming into the equation much more than it is now and it's a pity that that isn't coming in. "It's a pity that in the context of collective bargaining that productivity isn't coming in more into the entire thing," Williams said.
He urged that at some stage the country needed to move towards a "framework" of bargaining where factors such as pension and health arrangements were considered and not only the issue of income. Expressing concern with the country's industrial climate, Williams however made it clear that the collective bargaining process was supported.
"But there is no doubt that if the country's industrial relations climate continues as is, it is going to make the recovery that much harder," William added. He said there was a "deep possibility" the construction projects were facing a shortage of cement which has resulted in strike action taken by employees of the Trinidad Cement Limited (TCL).
"If that is so that is not helping the economy. I don't know the extent to which Government projects are being held up but I think it is reasonable to assume that there is a shortage of cement that if there are rippling effects that would not at all be good for the economy," Williams noted.