The session which was held at the Royal Saint Lucian, Rodney Bay, follows several consultations between the government and representatives of the private sector and trade unions.
This retreat provided, for the first time, a single tripartite forum that allowed for frank, spirited face-to-face discussions on matters related to fiscal policy, and the adjustments needed to reduce the large deficit and high debt, which has become characteristic of the country’s budget over the years.
Thursday’s session featured a presentation on St. Lucia’s macro-economic situation as well as an open forum for questions and a review of the consultation process.
The proposals made will be compiled and circulated among the various parties for consideration and further discussion with their members. The parties have agreed that a subsequent meeting will be held to agree on the way forward.