The Citizens’ Alliance has submitted a bill to parliament proposing a minimum wage for all employees of €1,125 in order, as it said, to end the exploitation and injustice experienced primarily by employees in the private sector.
The minimum wage currently stands at €924 but applies only to specific professions.
“As a result 27.5% of employees in Cyprus are paid less than €1,000 a month. Unfortunately in Cyprus employers are addicted to cheap labour,” it said.
The party said that Cypriot companies can cope since over the past three years, their deposits in the local banking system rose in 2017 to €8.7b from €5.5 in 2015 — an increase of €3.2b.
In addition local companies reported taxable income of €4.3b from €3b in 2015.