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Geneva will introduce ‘the world’s highest minimum wage’ of £41,430 a year

Geneva will introduce ‘the world’s highest minimum wage’ of £41,430 a year – round £3,500 a month – after two-thirds backed it in referendum

  • Swiss metropolis held a referendum throughout the voter inhabitants of round 500,000
  • New wage, which equates to round £19.50 an hour, launched from October 17
  • The alterations had been rejected by voters twice earlier than in each 2011 and 2014 

Geneva is about to introduce ‘the world’s highest minimum wage’ which will equate to £41,430 ($53,370) a year – round £3,500 ($4,510) a month. 

The Swiss metropolis, which has a voter inhabitants of round 500,000, held a referendum with two-thirds backing the brand new measure.  

The alterations, which had been rejected by voters twice earlier than in each 2011 and 2014, will now come into impact from October 17. 

Geneva (pictured) is about to introduce ‘the world’s highest minimum wage’ which will equate to £41,430 a year – round £3,500 a month

How the fundamental hourly rate compares

Geneva‘s new minimum wage will equate to only below £19.50 ($25.12) per hour – that is the way it compares: 

Australia: £11 ($14.17) an hour

France: £9.28 ($11.95) an hour 

UK: £8.72 ($11.23) an hour 

United States: £5.63 ($7.25) an hour

Geneva is the world’s second most costly metropolis, in response to a cost-of-living index compiled by Expatistan.

But it was hit notably exhausting by the outbreak of Covid-19 as a consequence of its reliance on income from vacationers and enterprise guests.  

It has suffered rising coronavirus-linked poverty as households have change into more and more reliant on provisions from meals banks – with queues of greater than half a mile lengthy forming on the peak of the pandemic.

Michel Charrat is the president of the Groupement Transfrontalier Europeen – a company that represents cross-border staff in France and Switzerland.

He informed the Guardian that the vote represented a ‘mark of solidarity’ throughout the financial divide in Geneva.

Mr Charrat mentioned: ‘Covid has proven that a sure part of the Swiss inhabitants can’t stay in Geneva.’

He added the measure would profit 30,000 low-paid staff – with two-thirds of them being ladies.

The new minimum wage was initially proposed by the Left-wing events in Switzerland who argued that its introduction was one of the best ways to handle the rising price of dwelling.

Geneva (pictured) is the world's second most expensive city and it was hit particularly hard by the outbreak of Covid-19 due to its reliance on revenue from tourists and business visitors

Geneva (pictured) is the world’s second most costly metropolis and it was hit notably exhausting by the outbreak of Covid-19 as a consequence of its reliance on income from vacationers and enterprise guests

Those on the Right had as an alternative instructed adopting a restrict on immigration from EU member-states as a approach of tackling the disaster – however voters rejected this proposal.

The metropolis’s new minimum wage will be set at slightly below £19.50 ($25.12) per hour. 

This is greater than triple that within the United States, which operates at £5.63 ($7.25) per hour, and greater than double the fundamental hourly rate within the United Kingdom of £8.72 ($11.23).

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