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Montevideo, August 19th 2022 - 19:42 UTC

 

 

Falklands' budget: 1,5% pay increase for government employees, and Minimum wage of £7.13 per hour

Monday, June 15th 2020 - 05:47 UTC
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FI students in UK grants increased to £10,027 for London students and £8,721 for students studying elsewhere FI students in UK grants increased to £10,027 for London students and £8,721 for students studying elsewhere

Some key changes within the Falkland Islands' Budget for 2020/21 from July 1, 2020, unless stated otherwise a 1.5% pay increase for Government employees.

Banking license increased to £12,000 (from January 1, 2021)

Minimum wage increase to £7.13 per hour (from 1 January 2021)

Retirement pensions payment increased from £161 to £163 per week

Contribution credits increased in line with pension contribution rates

Self-employed and voluntary contributions raised to £37.50 per week (from 1 January 2021)

Retirement pension contribution rate (resident) from £17.75 to £18.75 per week (matched by employer)

Allowances and Assistance

OAP Christmas Bonus 1.5% increased to £163 each year

Winter Fuel Allowance 1.5% increased to a max of £529

Employment programme payment increased to £129 per week

Family allowance increased from £77 to £78 per child, per month

Welfare assistance and attendance allowances increased with the rate of inflation

UK student grants increased to £10,027 for London students and £8,721 for students studying elsewhere

Transportation and customs

Embarkation tax increased to £26 (from July 2020)

Passenger landing fee increased to £26 (from July 2020)

FIGAS flight rates agreed as part of the 2019/20 Budget increased by 3% for locals and 5% for tourists (from July 2020)

 

Categories: Economy, Falkland Islands.

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