Spain’s Council of Ministers agreed to temporarily extend the validity of the legislation that establishes the amount of the minimum wage (Spanish acronym: SMI) at 950 euros in 14 payments for 2020.
This is a temporary extension until such time as the government and the social stakeholders establish a new SMI for 2021 within the framework of social dialogue. By taking this decision, the government gives legal certainty and continuity to the SMI function as a minimum wage guarantee for workers.
During his press briefing to take stock of his first year of administration, the Prime Minister Pedro Sánchez, highlighted that the SMI has been raised by 29% since 2018 against a backdrop of low inflation. “No country has managed to raise it by so much in just two years”.
Pedro Sánchez reiterated his commitment to the SMI reaching 60% of the average salary in Spain by the end of this term of office.
Adaptation to the UK’s withdrawal from the EU
The government approved regulatory, logistical and informative actions to adapt the Spanish legal system to the situation created by the definitive withdrawal of the UK from the EU.
These measures, in addition to the preparatory work for Brexit, will allow Spain to address the changes that will take place in its relations with the United Kingdom as from 1 January 2021 under better conditions.
The initiatives are geared towards overseeing the interests of individuals and economic operators. They are temporary and will remain in force until the deadline indicated for each case, or before, if instruments are adopted domestically or internationally to permanently regulate relations with the United Kingdom.
The article Spain To Extend Minimum Wage Set At 950 Euros Per Month appeared first on Eurasia Review.
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