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Ceturtdiena 19.10.2017 | Name days: Drosma, Drosmis, Elīna
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Wage rise expected in all three Baltic States next year

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUThis Monday, November 10th, Latvian government supported the decision to increase the minimum monthly wage in the country from EUR 320 to EUR 360 next year. This will mark the completion of the goal stated in the government declaration aimed at reducing income inequality in Latvia.

«It was emphasized during the pre-election period that it is vital to continue work on reduction of income inequality and increase of minimum monthly wage in the country. The government has therefore completed this specific promise. However, we need to continue our work and push forward to introduce a differentiated tax-free minimum to support recipients of small wages,» – says Latvian Finance Minister Janis Reirs.

As part of plans to further reduce income inequality, the government intends to introduce a progressive tax-free minimum for PIT in 2016. It is planned to increase it for recipients of small wages, keep it the same for recipients of average wages. No progressive rate is planned for recipients of wages that are above average in the country.

At the same time, it is planned to increase benefits for dependants.

All three Baltic States plan to increase their minimum wages: from EUR 320 to EUR 360 in Latvia; from EUR 290 to EUR 300 in Lithuania and EUR 355 to EUR 390 in Estonia.

In order to continue combating inequality, Finance Ministry plans to submit an informative report to the Cabinet of Ministers with a request to have the differentiated tax-free minimum realized in 2016.

Ref: 102.109.109.6903


Leave a reply

  1. Minimum wage says:

    Higher minimum wage will hurt those it intends to help.
    The sad reality is that some employers, especially in the countryside, will not hire (and more likely – pay in cash). Especially elderly and people with reduced abilities will find it harder to get work.

    Thumb up 0 Thumb down 0

    • Linda says:

      Worse companies will move their business elsewhere. Perhaps better to help the less well off with other incentives or handouts.

      Thumb up 0 Thumb down 0

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