AN OUTLINE OF the revised terms of Ireland’s bailout package will be announced this morning and should include a reversal of the minimum wage cut.
Representatives of the EU and IMF are to accompany the government in delivering the first review of Ireland’s bailout package.
It is expected to include details that will reflect the new government’s manifesto including putting the minimum wage back to €8.65 after it was reduced by €1 by the previous government and details of a jobs package aimed at stimulating growth and increasing employment.
The Irish Times reports that finance minister Michael Noonan has said that the government has met all the targets laid out by the EU/IMF deal that were required in the first quarter.
This means the country can draw down a portion of the €67 billion rescue fund that was due.
The paper reports on the growing concern in relation to meeting the targets set out in the Croke Park Agreement for public service workers.
The draft document to be presented today contains details that decreases in public sector pay must be sought if efficiencies are not met.
An official agreement is not likely to be struck until May, the Irish Independent reports, with senior figures in the EU and the IMF needing to rubber stamp any changes.
The paper adds that the move to reverse the minimum wage cut could also involve changes to employment agreements which give low-paid workers rights which include better pay on Sundays and Bank Holidays.
RTÉ reports that the reversal in minimum wage, which would take effect by the summer, would involve the halving of PRSI rates for employers with employees on the minimum wage.
TheJournal.ie will be live-tweeting the announcement from around 11.40am this morning on TheJournal_Live.
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