SALARY INCREASES AND LOWER INCOME TAX IMPLEMENTED
Cabinet has approved increases in salaries to all categories of Public Sector Workers including Daily Paid and Minor Salaries workers.
On Wednesday January 18th, Cabinet approved as follows:
2.5 % from January 1st, 2023 to 31st December 2023
2.0 % from January 1st 2024 to December 31st, 2024
2.5% from January 2025
Minister of Finance Hon. Camillo Gonsalves in his Budget address on January 9, indicated that the salary increases would cost the Government an extra 26 million dollars over the course of the three years.
The Minister added that this salary increase represents a “5.7 percent growth in Budget 2023 for wages and salaries” and “it is an extraordinary increase in light of the global challenges and fragility of our ongoing economic recovery.”
