Minimum wage approved

at €723 per month

Minimum wage graphic

Minimum wage signed-off: The Representative of the Republic for the Autonomous Region of Madeira yesterday published the Regional Legislative Decree, sent by the Legislative Assembly, which ‘Approves the value of the Minimum Monthly Remuneration guaranteed to be in force in the Autonomous Region of Madeira’.

Following this promulgation by Ireneu Barreto, the document will now be published in the Diário da República and in the JORAM, within five to 10 days. The value of the minimum wage was set by the Regional Government at €723 per month, after a decision in the social consultation and approval in the Regional Assembly, with retroactive effect from January 1 of this year, 2022.

COVID-19 in Madeira: daily updates can be found in an earlier post

8 thoughts on “Minimum wage approved”

  1. How does this break down to an hourly rate? That is the relevant need, this is before tax and NI so just look at what this will actually be in most workers pockets.

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  2. This minimum wage raise will see workers being pushed into a 23% tax bracket

    So lets say for arguments sake we are looking at 25% including social security etc
    That 723 Euros now becomes 542 Euros per month for minimum wage employees

    160 hours of monthly graft gets you 3.38 Euros an hour or £2.79

    Rent in the suburbs of Lisbon averages 400 Euros a month for a 1 bedroom apartment, so you have 142 Euros left for food, transport and sundries

    Portugal’s current GDP stands at 20.000 USD per capita… What is wrong with this picture?

    https://taxsummaries.pwc.com/portugal/individual/taxes-on-personal-income

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  3. Most of the rest of Europe outside the UK works on the basis of a monthly wage. So that is why the Portuguese government specifies this, I suspect.

    I suspect people who are likely to receive it have a very good idea of what it means after tax (I wonder if NI too is a UK-only concept – all the countries I’ve lived in bake it into taxes).

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