Living Wage Policy

The minimum wage needs to be a living wage. Not less. Anyone working full-time should not have to depend on charity to make ends meet. The minimum wage has trickled up whilst expenses continue to skyrocket.

COLA

  • Revise how COLA is calculated. Develop a progressive system for different income brackets, where the lower the income, the higher the COLA.

Living Wage for Malta

  • Every worker in Malta has the right to a Living Wage.
    • A living wage is a minimum income required for food, housing,  transportation, clothing, and also the ability to save for emergency expenses.
      • This should be legally established.
  • Ensure Minimum Wage is at least 60% of the Monthly Median Wage.
    • Current Gross Monthly Minimum Wage = €792
    • Estimate Gross Monthly Median Wage = ~ €1824.84
    • Target Monthly Minimum Wage = €1100.
      • €253.85/week 
        • €6.35/hour of full time (40hr/week) work
      • ~ 60% to account for possible increases in Median Wage
  • Increase to Minimum Wage to €1100 over 3 years at a rate of €102.45 per month/year.
    • If the employer can prove that the pace of the increase would impact the viability of the company, the employer may apply for a reduced VAT plan that foresees it increasing to original levels over 5 years. 
  • The Minimum Wage is to continuously increase to maintain 60% of the Median Wage until the Living Wage is established.
  • Create an NSO Directorate for the Living Wage.
    • The primary responsibility will be to regularly and transparently publish data on a Living Wage in Malta in line with the rights of the worker as detailed in the former point.
    • The Directorate will submit a recommendation for a Living Wage 6 months before the expected annual national budget starting from the year 2025.
      • The Government will be obligated to adjust the Minimum Wage accordingly unless the received figure is below 60% of the Median Wage, then the latter is adopted.

Financial Literacy

  • Introduce a free public accredited course for persons age 15 years and over, on financial literacy on the following subjects
    • Ensure it tackles at least the following subjects;
      • Budgeting,
      • Investing,
      • Personal Finance Management,
      • Taxation;
    • Ensure it can be done remotely.