New Zealand has decided to raise the minimum wage of workers to $20 per hour whilst also increasing tax rates for the country’s richest to 39%. Being implemented Thursday, the changes will also see increases to unemployment and sickness benefits with the minimum wage increase affecting up to 175,500 workers and increasing wages across the economy by $216m.
Any New Zealander earning more than $180,000 yearly will have taxes raised up by 2%. Prime Minister Jacinda Ardern stated that these changes represent ‘real and long-overdue improvements to the support we provide our most vulnerable.’ New Zealand’s previous minimum wage as of 2019 was already among the top five highest globally.
#MaltaDaily