Slovakia's Klub 500 rejects minimum wage hike offer

The Klub 500 has rejected a proposal by the Labour Unions Confederation (KOZ) to rise the minimum wage to a monthly 635 euros from next year on, claiming that the minimum wage is no longer a tool to improve living standards of low income earners, but rather an instrument to hike incomes of the state budget, social and health insurers and towns and villages, TASR learnt on Wednesday. "We refuse to serve continually as nothing but a tool to bolster inefficient public budgeting via annual hikes of the tax burden. The most dangerous aspect of this is that it's happening due to populist statements of politicians and unionists who lack any relevant life experience or analysis into developments of Slovak and global economies," Klub 500 President Vladimir Sotak said.