Lithuania’s government, business representative and trade unions on October 16th signed an agreement, declaring pledges to raise wages, cut taxes on labor and encourage collective contracts, informs LETA/BNS.

According to the document, it will be implemented in accordance to “principles of good will, honesty, confidence and constructive dialogue,” with another separate agreement to be signed on higher wages.

“We agree (…) in light of economic development, to raise salaries for employees (…), reduce taxes on labor and shift the tax burden on taxes with less harm on economic development. We will not raise the overall tax burden on businesses,” reads the agreement signed on Monday.

The document was signed by Prime Minister Saulius Skvernelis, Arturas Cerniauskas, chairman of the Lithuanian Confederation of Trade Unions, Robertas Dargis, president of the Lithuanian Industrialists’ Confederation, and heads of five more organizations.

The document envisages boosting “a positive image of business” and ensure balanced participation of labor force from third countries in Lithuania’s labor market, optimized terms and procedures of handling of immigration formalities.

Information source: “The Baltic Course”/ You may find this article here.