Joint Statement on the minimum wage by SEV Hellenic Federation of Enterprises and SETE Greek Tourism Confederation*

There is no doubt that the minimum wage of workers needs to be improved. For this to happen without hindering the recovery of the economy and employment, especially for the small and medium enterprises, it is now imperative to:

• Reduce the taxation on labor.
• Contain the non-wage labor cost, by reducing social security contributions.
• Disconnect the increase of the minimum wage from the average wage setting by rationalizing the existing system of compulsory arbitration.

The level of wages that an economy and a society can afford to pay its workers, is not something that depends on the wishes and the kind intentions of the Government. The reality is that the level of wages, and among them the level of the minimum wages that the economy can afford, is linked to its productivity and competitiveness, the size of unemployment and undeclared work.

* On the occasion of the Government decision to raise the minimum wage by 11%.