Yatsenyuk: Government expects enterprises to take concrete decisions on increase wages to employees in response to UST cutting
OREANDA-NEWS. April 07, 2016. "The Government officially appeals to the owners of all enterprises, and especially trade unions, who are to protect the rights and freedoms of employees: we have provided an instrument, we committed ourselves to financing large amounts from the state budget, when we reduced twofold the tax on wages. Now we are waiting for concrete solutions from the business entities regarding raising salaries at the enterprises", urged the Prime Minister of Ukraine Arseniy Yatsenyuk at a Government meeting.
Arseniy Yatsenyuk reminded that the Government had cut the payroll tax almost two times: "This has significantly improved the financial performance of the companies, they have obtained more money for themselves that should directly affect all the employees of these companies – they should have their payroll raised".
The Prime Minister stressed the need to analyse the growing trend for payroll budget over the first quarter of year and to sum up preliminary results of economic efficiency after a twofold reduction of the unified social contribution.
The State bears the funding of the Pension Fund to the tune of UAH 144 billion, he said: "I want to see how wages in the real sector of the economy are growing due to the fact that we reduced the basic tax on salary. We have made our move, now I want to see a move from business."
"It is crucial now to ensure people and businesses feel the impact and effectiveness of making such a complex, difficult but correct decision - to cut the single social tax twofold", summed up the Head of Government.