§ Mr. MeacherTo ask the Secretary of State for Education and Employment if she will set out in domestic currency statutory national minimum wage, or the minimum wage established on the basis of collective bargaining, in key industries in each European Union state and in the United State of America, Sweden and Japan; if she will indicate the equivalent of each of these amounts in pounds sterling at purchasing power parity exchange rates; and what percentage of average earnings in each of these countries the current national minimum wage represents. [8341]
Mr. John M. Taylor[holding answer 9 January 1996]: I have been asked to reply.
The following table gives the current statutory national minimum wage for each European Union state, the United States of America and Japan in the domestic currency and each of these amounts at purchasing power parity exchange rates. The other information requested can he provided only at disproportionate cost.
Minimum wage level Own currency At purchasing power parity1 exchange rates Sterling £ Belgium BF 43,318 monthly 739,77 monthly France FF 36.98 hourly 3.60 hourly Greece Dr 5,338 daily 17.00 daily Luxembourg LF 43,744 monthly 689.73 monthly Netherlands Hfl 2,184 monthly 653.15 monthly Portugal Esc 52,000 monthly 276.06 monthly Spain Pts 64,920 monthly 347.51 monthly USA $ 4.25 hourly 2.71 hourly Japan 2Y 554 hourly 1.95 hourly Wage rates converted to UK equivalent using 1994 purchasing power parities from OECD Main Economic Indicators December 1995. 2The lowest regional wage rate.