Gov’t working on unemployment benefits scheme

[Dr.Dudd]

Gov’t working on unemployment benefits scheme
Tuesday, 10 March 2009
The Bruce Golding administration is giving serious consideration to implementing an unemployment benefits scheme as it faces an alarming increase in the number of persons losing their jobs.

The Government is rushing to hold wide scale consultations on the matter in the wake of reports that more than 12,000 persons have lost their jobs in the past six months and fears that that figure could significantly rise in coming months when the global recession deepens.

Labour and Social Security Minister Pearnel Charles told RJR News that meetings are being organised with employers and workers to examine how the proposed scheme should be set up.

"It would depend on what they want ... it has to be a contributory system," he said.

According to Mr. Charles, the idea of an unemployment benefits scheme has been on the table for a while but serious consideration was not given to its implementation.

"We've been talking about it for a while but it (was) not organized and therefore, I think the time has come not only because of this global problem but the workers who are being laid off want to know that there is a cushion somewhere," he said.

If the scheme becomes a reality, it would be patterned off Social Security in the United States which provides benefits to millions of unemployed Americans.

[Dr.Dudd]

Re: Gov’t working on unemployment benefits scheme

What does he mean if the scheme becomes a realoty??
If iyt doesn't, the cost to the country will be mich more than the cost of implimentation. Ig they want to solve the taxpayer dielinquency problem they sould omploment it andmake it availabe to self employed who pay a cettain amount for a peoiod.
They the other leg of the stool will be to buy insurance to insure deposuts up to US$100,000 and the dollar will stabilize.
The economy will grow and the tax base will increase to the point where the need fo bond suppoirt will be less.
It will turn the counrty around.
But starting with the unemployment benefits is a good place. If this administration want to diffrentiate,they will start here. It will be a net gain for the fovernment. since it will bring in at least 30% more incometaxes,which will me less than it's cost.

[Dr.Dudd]

Re: Gov’t working on unemployment benefits scheme



Bahamas government to set up unemployment benefit scheme
Tuesday, 17 March 2009

The Bahamas government says US$20 million has so far been earmarked for the launch of an unemployment benefit scheme in April.

Prime Minister Hubert Ingraham provided the update following a meeting with trade union groups, employers and other stakeholders Monday.

He said the proposed scheme will initially be funded out of the Medical Fund of the National Insurance Board (NIB).

He explained that the Medical Fund was created in the 1980s with employer contributions collected by NIB for industrial benefits that were never paid to claims due to a lack of regulations.

Since that time, monies from the Fund have been used to construct public clinics throughout The Bahamas.

The government plans to table an Amendment Bill in Parliament on March 25, with implementation of the unemployment benefit scheme slated for April 20.

The scheme provides benefits for up to 13 weeks for eligible workers who wind up on the bread-line as a result of the global economic downturn.
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[britisha]

Re: Gov’t working on unemployment benefits scheme

Mi did think seh is Jamaica you talking bout, but if I heard Pearnel correctly today, they are setting up a programme to retrain people who lost their jobs due to the current global economic downturn.

[Dr.Dudd]

Re: Gov’t working on unemployment benefits scheme

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: britisha</div><div class="ubbcode-body">Mi did think seh is Jamaica you talking bout, but if I heard Pearnel correctly today, they are setting up a programme to retrain people who lost their jobs due to the current global economic downturn. </div></div>The original story was about Jamaica, but they let Bahamas beat them to it.

As usual they have to discus it with the business sector that will oppose it.
since it will allow workers to hold on to some of theot assets even if the boss try to cause him to lose it.

[britisha]

Re: Gov’t working on unemployment benefits scheme

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: britisha</div><div class="ubbcode-body">Mi did think seh is Jamaica you talking bout, but if I heard Pearnel correctly today, they are setting up a programme to retrain people who lost their jobs due to the current global economic downturn. </div></div>The original story was about Jamaica, but they let Bahamas beat them to it.

As usual they have to discus it with the business sector that will oppose it.
since it will allow workers to hold on to some of theot assets even if the boss try to cause him to lose it. </div></div>

That is interesting.