THE question of the compensation package for the members of the Economic Advisory Council, appointed in April to advise Finance Minister Dr Peter Phillips, has been put on the table of the Upper House five months after the issue was raised there.

The Government in July this year said it was working out the details of a compensation package for the council comprising former financial secretaries Shirley Tyndall and Colin Bullock, and economist Dennis Morrison.

At that time, the Leader of Government Business in the Senate, Senator AJ Nicholson, speaking in the Senate, said the intention was to pay a stipend to the members of the council not employed in the public sector. He said the details were being worked on.

Last Friday, with those details short on coming, Leader of Opposition Business in the Senate, Senator Arthur Williams formally tabled the question for answer in 21 days by Nicholson.

Williams asked that Senator Nicholson, who is also the minister of foreign affairs and foreign trade, “state what remuneration has been approved for payment to the members, whether by way of salary, contractual payment, fees, reimbursements or otherwise”.

The members of the council, based on the current arrangement, are not required to be physically present at the Ministry of Finance, and are also not required to meet for any minimum number of hours per week.

The terms of reference of the council include: researching and analysing financial and economic issues referred to them by the minister, and advising him; addressing issues of financial or macroeconomic importance and presenting their views to the minister; and submitting periodic reports to the minister on global and local macroeconomic developments and issues with implications for fiscal and economic policies.

Explaining the rationale for the council, minister with responsibility for information Senator Sandrea Falcolner told journalists at a weekly Jamaica House press briefing on April 4 that “Cabinet was informed that the economic challenges facing Jamaica at this time were considerable and would require informed and timely implementation of suitable remedial measures”.