THE PORTUGUESE GOVERNMENT WANTS TO INCREASE THE MINIMUM WAGE

&amp;NewLine;<h2 class&equals;"wp-block-heading">The Portuguese government wants to increase the minimum wage by 25&amp;percnt;<&sol;h2>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<p>The main aim of Antonio Costa's new government is to raise the minimum wage by 25% over 4 years; <&sol;p>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<p>On Saturday night, the executive published its commitments on the government website&amp;period; The Portuguese government has pledged to raise the minimum wage each year by a cumulative <a href&equals;"https&colon;&sol;&sol;eco&period;sapo&period;pt&sol;2019&sol;11&sol;05&sol;estado-podera-arrecadar-mais-500-milhoes-com-novo-salario-minimo&sol;" target&equals;"&lowbar;blank" rel&equals;"noreferrer noopener" aria-label&equals;" &lpar;opens in a new tab&rpar;">25&amp;percnt; by 2023<&sol;a>&amp;period; Currently&amp;comma; the minimum wage in Portugal is 750&amp;nbsp&amp;semi;euros gross per month over 12 months, or even 14 months for some companies&amp;period;<&sol;p>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<h3 class&equals;"wp-block-heading">The minimum wage in Portugal has already been revalued in 2016 <&sol;h3>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<p>When he took office in 2016&amp;comma; Antonio Costa had already re-evaluated the minimum wage in Portugal&amp;period; In agreement with the main employers' and employees' unions&amp;comma; the minimum wage was raised from 485&amp;nbsp&amp;semi;euros to 530&amp;nbsp&amp;semi;euros&amp;period; <&sol;p>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<h3 class&equals;"wp-block-heading">Objective&amp;comma; to increase tax revenues <&sol;h3>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<p>This increase in the SMIC is not without ulterior motives&amp;period; in fact, it would enable Costa's government to raise 500 million euros in annual tax revenue&amp;comma; which would bring contributions to 1&amp;comma;2 billion euros a year&amp;comma; enough to help pay down the public debt&amp;period; <&sol;p>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<h3 class&equals;"wp-block-heading">Revaluation will have an impact on the Portuguese business economy <&sol;h3>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<p>Even if this initiative is commendable and will delight minimum wage earners&amp;period; This revaluation will inevitably have an impact on companies&amp;period; The economic and industrial fabric is still fragile and far from being stabilized&amp;period; Contrary to what the government or even the foreign press may announce&amp;period; If Portugal has emerged from the crisis it is above all thanks to the <a href&equals;"https&colon;&sol;&sol;vivreauportugalconsulting&period;com&sol;le-statut-de-resident-non-habituel&sol;">tax benefits<&sol;a> that Portugal offers to foreign retirees and working people, and also thanks to tourism and real estate investment&amp;period; Portugal's industrial fabric remains very fragile&amp;period; <&sol;p>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<p>This revaluation would represent an increase in social security and employer contributions of around 185&amp;comma;63 euros&amp;period; <&sol;p>&amp;NewLine;