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Cyprus

Ministers pay has been cut by 40 per cent

Finance Minister Harris Georgiades

FINANCE MINISTER Harris Georgiades on Wednesday rejected reports that top state officials were not feeling the pinch of austerity, publishing his full salary including allowances to show that he too has received a 40 per cent reduction in income. 

“There is a press report (yesterday) saying that the allowances of state officials and ministers remain untouched and add up to €70,000 in salary and €24,000 in allowances.

“I would like to make public my own pay slip which does not differ from that of all other ministers, to confirm whether the income and allowances of ministers remain untouched at €94,000 in total, as the report says, or whether they are around 40 per cent lower,” said Georgiades.

According to his pay slip, the gross earnings of the finance minister for September, 2013, reached €8,291. The total cut to his income was €3,924.

The reductions relate to: €1,203 in income tax, €156 contribution to the social insurance fund, €249 to the widows’ pension fund, €188 special contribution, €29 ad hoc contribution, €493 voluntary pay cut, a 6.8 per cent reduction (€565) for the pension plan, €948 pay cut, and €94 for healthcare.

His net income for September came to €4,367.

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