Changes Proposed to Mexico Use of Minimum Wage Michael O'Boyle - Reuters
go to original September 20, 2014

MEXICO CITY - Mexico's government will present a bill to stop using the minimum wage to calculate fines, levies and contributions Finance Minister Luis Videgaray said on last week, paving the way for a possible increase in base pay levels.

Mexican policymakers have long favored lower wage increases to keep inflation in check and attract foreign investment. But Mexico City's leftist mayor and the opposition conservative National Action Party have both proposed minimum wage increases ahead of midterm elections next year.

Videgaray said Mexican President Enrique Pena Nieto would submit a plan to lawmakers to stop using the minimum wage as a basis to set fines, fix worker contributions for subsidized home loans and determine public financing for political parties.

Putting an end to the practice is a "necessary condition for us to have the debate we need to have," Videgaray told Mexico's Senate, referring to the minimum wage.

Read the rest at Reuters

We invite you to add your charity or supporting organizations' news stories and coming events to PVAngels so we can share them with the world. Do it now!