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 "We made our step. Now I want to see business make its," - Yatseniuk on necessity to increase salaries

The Cabinet of Ministers of Ukraine expects business to make specific steps to increase wages to employees in the face of cutting unified social tax.

As reported by Censor.NET citing Government portal, this was stated by Prime Minister of Ukraine Arsenii Yatseniuk at a Cabinet meeting on Wednesday, April 6.

"The Cabinet officially addresses 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 have undertaken to allocate large amounts from the state budget when we halved the payroll tax. Now we are waiting for business to make concrete steps to raise salaries of their employees," Yatseniuk stressed.

He reminded that the government had cut the payroll tax almost twofold: "This has significantly improved the financial performance of the companies. Now they have more money and it should directly influence the employees of these companies - they should see their salary raised".

The prime minister stressed the need to analyse the growth of payroll budgets in the first quarter of 2016 as well as to sum up economic efficiency after the twofold reduction of UST.

The state has undertaken to fund the Pension Fund in the amount of UAH 144 billion (approx. $5.49 billion), he stressed: "I want to see how wages in the real sector of economy grow due to the fact that we reduced the basic payroll tax. We made our step. Now I want to see business make its."

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