Premier and Minister of Finance Dr the Hon Natalio D. Wheatley (R7) has said there is a lot to consider when it comes to further increasing the minimum wage. Photo: Internet Source

(L-R) Talking Points Co-hosts Damion C. Grange, Elvin G. Grant, and guest Premier and Minister of Finance Dr the Hon Natalio D. Wheatley (R7) Photo: Facebook

Speaking on Talking Points on January 12, 2026, on ZBVI 780 AM, Premier Wheatley spoke on the recent increase in the minimum wage in the Virgin Islands (VI). 

The new minimum wage of $7.25 per hour took effect on July 1, 2025. The last increase was in 2016, when it was increased from $4.00 per hour to $6.00 per hour. 

There must be a balance

According to the Premier, his principle as it pertains to further increasing the minimum wage is ensuring there is a balance. 

“If we try to help the workers by increasing the minimum wage, you may cause the cost of living to go up for everybody, so it’s a delicate balance that you have to achieve.”

Dr Wheatley explained that some of the workers that they are trying to help may actually end up being the ones hurt, as their employers may have to lay them off. 

He added that small businesses are having a difficult time right now, and measures need to be taken to help the business community. 

“Then we make some adjustments so that they’re not too negatively affected if you do put up the minimum wage further.”

A new minimum wage of $8.50 per hour for the Virgin Islands (VI) was initially set to come into effect on Saturday, November 30, 2024; however, in a bulletin from the government on December 3, 2024, a postponement on the increase was made “on account of a matter of policy”.