St Kitts and Nevis Labour Party implements bold reforms under PM Dr Terrance Drew

St Kitts and Nevis: The Labour Party administration under the leadership of Prime Minister Dr Terrance Drew is continuously making meaningful changes in the lives of thousands of people. 

The government has introduced a number of bold reforms and initiatives which are benefitting the locals of the island nation. 

These include the provision of $1000 Independence Payment, 8% salary increase for civil servants and pensioners, ASPIRE Programme for Children, Two CBI Dividend payouts, December 2023 Holiday Bonus, Free Medical Treatment for Children, Pension for Government Auxiliary Employees, 39 percent minimum wage increase, 37 percent increase in pension payments and 16 percent increase in minimum age pension. 

According to the information, $1000 Independence Payments was a token of appreciation to citizens celebrating the progress of nation while 8 percent salary increase for civil servants and pensions was implemented in January 2024 to uplift earnings across the board. 

The ASPIRE programme for Children was officially launched in St Kitts and Nevis earlier this week and from Monday, November 25 onwards, children can start enrolling for the same. Under this programme each child between the age of 5 to 18 will receive $1000 to start an account and begin investing. 

While providing update on the ground breaking ASPIRE financial savings and investment programme, PM Drew said, “We now have applicants 1710 and approve applications because it goes through the process 501 a total of 367 accounts are now built and seeded, which means the money was deposited to the tune of $367,000. So I can clearly say that 367 young people now have $1,000 in their accounts, and then what we will do is savings, and then we will now invest in, um, shares in the companies.”

Furthermore, the payment of two CBI dividend payouts provided direct financial benefits from the revamped Citizenship by Investment Programme. 

The Labour government also provided free medical treatment for children through the Children’s Medical Fund while ensuring health care access for every child.

Meanwhile, the pensions for government auxiliary employees was also provided, fulfilling a long overdue promise to provide retirement security for all. 

The minimum wage increases of 39 percent set the highest standards in the region and increase in pension payments of 37 percent supported pensioners with a meaningful boost in income. Also, 16 percent increase in the minimum age pensions strengthened social security for older people.