The Malta Independent 25 April 2024, Thursday
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General Workers Union reiterates that COLA should be given twice a year to compensate for inflation

Wednesday, 26 November 2014, 12:15 Last update: about 10 years ago

The General Workers' Union has described the Budget for 2015 as just, and one that creates solid foundations for economic development, given the government is projecting a 3.5% increase in GDP. However, it said that the Cost of Living Adjustment should be given twice a year, to compensate for inflation. It also called on the government to revise the products used to calculate the household budgetary survery.

In a press statement issued this morning, the GWU said that measures announced ensure protection for the most vulnerable and rewards for the hard workers.  In addition, the government is making it a priority to address precarious work, an issue the union has long stressed upon. The union called for such measures to be extended in the private sector, by amending the Wage Regulation Order.

 The budget also includes incentives that encourage more persons with disability to work, and for employers to employ them. This will allow for more economic development, and better sustainability of pensions.

The union said that the budget ensures that justice is given for those who have suffered injustice for years, for example, former dock workers, and members of the civil protection. The government is committed to corrected anomalies created during the revision of pension for social security, which had a negative impact on such workers.

The union acknowledged the government's incentives to assist those living on minimum wage, or are in risk of poverty. It also lauded the decrease in utility tariffs for businesses, which is set to take off in March of next year. This will allow companies to gain a more competitive edge.

The statement continued that the GWU is in favour of measures induced to prevent abuse of social services and tax evasion.

On the manufacturing industry, the union insisted that the government needs to emphasise more on the Green Job Qualification and Green Job Economy. It added, that a decrease in manufacturing industry need to be compensated by investment in the sector. 

Regarding pensions, the GWU reiterated that these should not be less than 60% of the median pay, adding that a study needs to be carried out on increasing the maximum pay for those born prior to 1962.

On Gozo, the union said that accessibility between the sister islands should be improved, and socio-economic measures need to ensure increasing standards of living. 

 

 

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