Dear Editor,
I am extremely pleased that, as a matter of Government policy, Senior Minister with responsibility for finance, Dr. Ashni Singh addressed the issue of salaried employees and whether they can benefit from the development bank loan facility and, more broadly, pursue alternative and legitimate business endeavours.
We have had outdated rules for a long time that have been prohibitive, especially around outside work, entrepreneurship, and this broad-brush treatment of conflict of interest.
We are in a different era now, and these rules have to adapt.
Conflict of interest can be managed and regulated. It should not automatically be used as a blanket prohibition against people earning legitimately, building businesses, teaching, consulting, investing, or pursuing complementary sources of income.
People should be able to earn legitimately outside of their main employment, once it is properly disclosed, managed, and does not compromise their official responsibilities.
Alternative and complementary legitimate sources of income need to be encouraged and promoted across both the private and public sectors.
The economy has changed. The labour market has changed. The entrepreneurial environment has changed.
The policy framework must now change with it.