Minister of State Pierre Dartout has thrown his support behind the idea of extending to all private sector employees the bonuses that were given in summer to hotel and restaurant employees.
Inflation is hitting pocketbooks all over the world, and even Monaco is not impervious to the effects. That’s the bad news.
The good news is that, with the Principality’s finances showing a projected surplus of €8.8 million, employees in the private sector may soon expect some relief in the form of a “discharged” bonus.
This bonus, which was handed out over the summer to employees in the restaurant and hotel sector and has already been doled out to civil servants and hospital staff, is now being considered for all private sector employees to help maintain their purchasing power in these trying times.
“The role of the State is both to prepare for the future and to protect the population from the dangers of the moment,” said the Minister of State during last week’s National Council Assembly. “Today we have to deal with a rise in the general level of prices that has not been seen since the beginning of the 1980s.”
The bonus would be paid to private sector employees up to a certain remuneration level, without the requirement for employers to pay social charges on top.
“Given the current particularly difficult economic and social context, both for employers and for employees in the Principality, I am announcing that the government is in favour of the bonus support for employees established by the ministerial decree of 1st August being extended to all sectors of activity in the Principality,” said Dartout.
The news was music to the ears of newly elected National Council President Brigitte Boccone-Pagès, who said, “I, along with my colleagues, wish that everything be done to ensure that the effects of inflation are most amply compensated, whether for civil servants, state and municipal employees, for retired civil servants, for medical and non-medical staff at the CHPG, but also for employees in the private sector.”
Of course, this is not a sure thing for all private sector employees, as the final decision rests in the hands of private sector company owners. But with the incentive of no extra social charges, the government and the Council are hopeful most will be happy with the arrangement.
Said National Council Vice-Preisdent Balthazar Seydoux, “With regard to employees in the private sector, in a liberal economy, the State cannot of course decree salary increases. This is a decision of the employers. On the other hand, elected officials want employers to take up this issue so that in all companies where this is possible, the maintenance of the purchasing power of employees is ensured.”
Photo by Monaco Life