Government to reflect carefully on proposed minimum wage increase

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Mark Butler CPA FCCA Partner

"On Saturday it emerged the Low Pay Commission is expected to recommend a rise of 50c per hour to the minimum wage, bringing the rate from €8.65 to €9.15 per hour."

"Should this proposed minimum wage increase become a reality, there will be an urgent need for incentives for business to shoulder the burden of increased wages and the Government need to carefully consider the knock on effect any increase will have on general wage inflation."

"We need to be very mindful of continuing to rebuild the nation’s competitiveness particularly when we consider the challenges and costs that owner managers face. Labour costs are also a key consideration when companies are considering investing in Ireland."

"I believe the Government should reduce the cost of Employers PRSI at least in line with any increase in minimum wage so the burden is not shouldered by businesses in recovery. There may also be a real opportunity to create new jobs through new PRSI incentives."

http://www.rte.ie/news/2015/0720/715993-Taoiseach-minimum-wage/

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