Kuwaiti MPs have proposed raising the minimum wage for nationals to KWD1,500 (US$5,300) per month as part of a raft of changes that would boost the income of residents to among the best in the world.
The proposed minimum wage would be by far the highest in the world – three times the present best in Luxembourg, according to a world ranking by international accounting firm PKF International, based on International Labour Organisation data.
The wage also would increase annually in line with inflation, Kuwait Times reported.
The MPs also want to increase the housing loan eligibility to KWD100,00 (US$353,540) a year, while also lifting the cap on how much women can borrow from KWD45,000 to KWD100,000.
Oh god! Is there anyone left in this government with half a brain cell!!? What a preposterous proposal!
ReplyDelete1. Such a drastic increase in the cost of Kuwaiti labor, SPECIALLY when businesses are hurting so bad, will surly `hair cut` any `excess` Kuwaiti employees.
2. And MOST disturbing. Such a drastic increase in the income of almost half of the population will drive up an already over inflated CPI in the country. Prices are going to skyrocket! ...which is usually fine when income levels go up with inflation, but in this case only Kuwaiti nationals incomes are going`to go up. So this will effectively lower all expats incomes in real terms.
So in real terms, Kuwaiti income goes up (only shortly), and expats incomes collapse. THIS IS PURE THEFT!
And as though that wasn`t enough, ``The wage also would increase annually in line with inflation``. Are you kidding me!
I really hope someone in that god forsaken parliament brings these ``MP`s`` to their senses before they ruing beyond repair the country I love.
SMH