Mota Soares ensures that reduction is positive for TSU’s coffers … – iOnline

Mota Soares ensures that reduction is positive for TSU's coffers … – iOnline

The Minister of Solidarity, Employment and Social Security assured today that the decrease of 0.75 points in the Single Social Tax (TSU) in return for raising the minimum wage to 505 euros is positive for the state coffers.

“This is a measure that is wholly positive for the state coffers,” said Pedro Mota Soares told reporters after signing with the social partners, except the CGTP, the agreement will increase minimum wage to 505 euros from 01 October.

For employers confederations accept this increase, the Government undertook to download this minimum wage applicable to the TSU and paid by employers by 0.75 points. This reduction will be valid for the same period of the new minimum wage, until December 2015

The governor praised the agreement reached and stressed that it was agreed that future updates of the minimum wage should be related to productivity of the country, as the government has been advocating.

“The concern of the government is to protect our economy, the competitiveness of businesses and protect jobs,” said Mota Soares.

According to the minister, and despite a decrease of 0.75 points TSU paid on the minimum wage, “Can the growth of contributions to social security.”

“Reaching this agreement entailed commitments, but we got a good deal,” the minister had said Pedro Mota Soares at the entrance to the Economic and Social Council where the agreement reached today was formalized.

In the act of formalization was also attended by Prime Minister Pedro Passos Coelho, and the Deputy Prime Minister, Paulo Portas, who did not provide any statement or the input or the output of the meeting.

according to the increase in the national minimum wage to 505 euros, which will come into force on 01 October, was closed this afternoon between employers’ associations, the government and the UGT.

This increase was agreed after several meetings between the social partners and the Government, except the CGTP, held in the margins of the Social Dialogue throughout the month of September.

Currently the minimum wage is 485 euros and is frozen since 2011