Significant Wage Increase since 2015
The minimum salary in Madeira, which is currently set at 785 euros, will be increased to 850 euros from 2024. The gross minimum wage thus has been increased by over 52% since 2015, when the minimum salary was set at about 270 Euro less.
No Gains Despite a Booming Economy
This appears as a considerable increase, but in the light of rising living costs, rental prices and high interest rates, there are no gains for people receiving minimum wage. This paradox persists even amid a thriving tourist sector and a robustly expanding economy that is generating a tremendous surplus.
Socialist Party Demands Further Increase
The PS (Socialist Party) therefore defends a further 5% increase in the regional minimum wage in 2024. They propose setting the regional minimum wage at 861 euros instead.
In the region that has the lowest purchasing power, the lowest average net monthly wages, one of the highest rates of risk of poverty and social exclusion in the country, in which the Regional Government goes into the pockets of Madeirans to seek more than one billion of euros in taxes, we believe that the Government should have been bolder and should have better redistributed the wealth and taxes of Madeirans for whom it works
Care for a share?
Comments