Minimum wage workers in Ireland will see an increase in their pay cheques from Monday, 1 January.
It was announced back in October 2017’s Budget that the Irish minimum wage would be increased, with the new sum to be tallied in 2018.
The new figure will be set at €9.55 per hour – an increase of 30c per hour.
Fine Gael TD Bernard Durkan highlighted the importance of the wages hike:
“The increase in the minimum wage will mean a boost for our lowest paid people in society in 2018.
“This is the fourth time that the Fine Gael-led Government has introduced an increase to the minimum wage since it was cut in 2010.”
He continued: “In addition to removing some of the lowest paid people out of the USC net, this fourth increase in the minimum wage is an important part of Fine Gael’s efforts to ensure that the economic recovery is fair and benefits everyone in society.”
In 2017, Ireland had the second highest rate of minimum wage of countries who have a minimum wage structure in the European Union, according to a report published by Eurostat earlier this month.
Of the 22 EU member states with a minimum wage, only workers in Luxembourg (€1,999 per month) receive a higher monthly minimum wage than workers in Ireland, who take home €1,563 per month, according to the report, valid as of January 1, 2017.
This was converted using the national minimum wage of €9.25 per hour for somebody working a 39-hour week over the course of a year.
The new minimum wage would result in an Irish worker taking home a gross income of €1,613.95 per month, and €1,521.57 after tax.
Earlier this year, Ireland’s ‘living wage’ was set at €11.70 per hour, an increase of 20c on 2016’s figure.
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