The European Parliament and the European Legislative Council have pledged to explore options for increasing minimum wages in the European Union. The innovation is to guarantee a “decent standard of living” for all workers.
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All EU member states will examine whether the minimum wage for their citizens is enough to ensure a decent standard of living, taking into account purchasing power and long-term development. To assess the adequacy of the EU countries intend to form a basket of products and services in real prices.
The new law is expected to reduce wage inequality and raise the wages of the least paid workers in Europe. The accepted agreement in the future must be approved by the Committee on Employment and Social Affairs, as well as the Council of the EU.
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