The British Virgin Islands’ Minister for Financial Services, Labour and Trade, Hon. Lorna Smith OBE, has expressed hope that the private sector will consider raising salaries across the board following the proposed minimum wage increase.
This sentiment comes amid discussions about the significant gap between the new minimum wage and what is considered a livable wage in the territory.
In a recent interview with Director of Communications Karia Christopher, Minister Smith addressed the stark contrast between the proposed minimum wage of $8.50 per hour and the calculated livable wage range of $12.61 to $16 per hour.
Christopher described the cost of living in the BVI as “almost embarrassingly high,” highlighting the economic challenges faced by many residents.
Minister Smith acknowledged the high cost of living, stating, “I shop and I know the cost of living is high in the BVI.” She suggested that further increases to the wages are open to discussion.
When asked how she would manage if she had to live on the proposed $8.50 per hour minimum wage she responded stating the following.