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St. Kitts-Nevis Trades & Labour Union

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Collective Bargaining Representation

The union negotiates collective bargaining agreements on behalf of its members to ensure fair wages, benefits, and working conditions. Shop stewards act as liaisons between the workers and the union leadership.

Legal Representation

Members have access to legal assistance for workplace-related issues, such as unfair dismissal, discrimination, and safety violations.

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The SKNT&LU supports members in resolving workplace grievances, advocating for fair treatment and due process.

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A key focus is on promoting safer work environments and compliance with health and safety standards.

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Members can participate in events that foster community and provide networking opportunities.

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The union lobbies for policies and legislation that protect and advance workers' rights and interests.

Job Security and Seniority Advocacy

Efforts are made to ensure fair practices regarding layoffs, promotions, and other job changes, often prioritizing seniority and performance.

Information and Resources

The union keeps members informed about labor rights, industry developments, and union activities through various communication channels.

Open Door Policy

Members have direct access to union representatives for guidance and support, with non-members also encouraged to engage with the union.

Workers Representation on a National Scale

The SKNT&LU represents workers at the national level on various committees, influencing policies and regulations affecting labor and employment.

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HomeGeneral NewsSovereign Wealth Fund Legislation Set for Parliamentary Approval in Q1 2025

Sovereign Wealth Fund Legislation Set for Parliamentary Approval in Q1 2025

General News

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By Admin

Sovereign Wealth Fund Legislation Set for Parliamentary Approval in Q1 2025

Basseterre, St. Kitts, February 19, 2025 (PMO)– The Government of St. Kitts and Nevis is poised to establish a Sovereign Wealth Fund (SWF), with legislation scheduled for parliamentary debate and approval within the first quarter of 2025. This strategic move aims to ensure prudent management and investment of the nation’s financial resources, securing long-term economic stability and prosperity.

The proposed SWF will serve as a financial reservoir, accumulating excess revenues from various sectors, including the Citizenship by Investment (CBI) program and anticipated profits from the burgeoning geothermal energy industry. By channeling these funds into the SWF, the government seeks to create a sustainable financial buffer that will support national development projects, social programs, and economic diversification efforts.

Prime Minister Dr. Terrance Drew underscored the importance of the SWF, stating, “The establishment of the Sovereign Wealth Fund is a critical step in safeguarding our nation’s financial future. It will provide a structured and transparent mechanism for managing our resources, ensuring that both current and future generations benefit from our country’s wealth.”

The legislative framework for the SWF has been meticulously crafted in collaboration with international financial experts, including the International Monetary Fund (IMF). This partnership ensures that the fund adheres to global best practices in governance, transparency, and accountability.

Once operational, the SWF will be managed by an independent Board of Trustees, comprising professionals with expertise in finance, economics, and law. Regular audits and public reports will be conducted to maintain transparency and public trust in the fund’s operations.

The successful implementation of the Sovereign Wealth Fund is anticipated to fortify St. Kitts and Nevis’s economic resilience, providing a stable foundation for sustained growth and development in the years to come.

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