JIS News

Minister of Finance and the Public, Hon. Audley Shaw, says the salary of current Bank of Jamaica Governor (BoJ), Brian Wynter, is some $8 million less than his predecessor.

Mr. Shaw told the House of Representatives Tuesday (January 18) that Mr. Winter's remuneration package totals $29, 789.8 million per annum, nearly $8 million less than former Governor DerrickLatibeaudiere’s contract

He also stated that Mr. Wynter's contract did not include an education allowance. Mr. Shaw explained that this allowance had been capped at $500,000 per annum, but no claim has yet been submitted.

The Minister was responding to questions from Opposition spokesman on Finance, Dr. Omar Davies, regarding costs associated with the office of the Governor of the BoJ.

He said that the education allowance has to be approved by the Minister, and has to be "reasonable".

"The governor is aware of the Minister’s position on this matter," Mr. Shaw asserted, adding that the Governor’s contract could either be adjusted to reflect the cap on the allowance, or a letter could be done for the same purpose.

The Governor's contract is disaggregated in the sum of: $16.078 million in salary, $6.7 for lease/rental, $2.5 million for household staff, $850,000 for utilities, $3.2 million for security and $360,000 for general maintenance.