The Government could move to change the minimum wage if it believes it is inhibiting job creation in any sector of the economy.
The warning came from the Minister for Finance Brian Lenihan, who was addressing the MacGill Summer School in Glenties in County Donegal last night.
The Minister told reporters that if the minimum wage became an obstacle to job creation, it could be reviewed and changed by Government. But he said changes would be based on a review of individual sectors where the minimum wage was having an impact.
Speaking on Morning Ireland, Fine Gael spokesman on Enterprise, Trade & Employment, Leo Varadkar, said he did not believe that the minimum wage was an obstable to the provision of jobs.
Meanwhile, Minister Lenihan also said that much progress has been made in preparing the legislation for the National Asset Management Agency.
But Labour leader Eamon Gilmore was critical of delays in setting up the agency. The biggest problem with the legislation, he said, is the delay in implementing it, because that is creating uncertainty in the banking sector.
Begg blasts 'toxic' proposals
The minimum wage proposals will not be tolerated by unions and have been described as 'toxic' by ICTU General Secretary David Begg.
Speaking at the MacGill Summer School, Mr Begg said there is no way he would tolerate any reduction in the minimum wage.
Speaking to reporters he described any move to reduce wages as a toxic proposal.
The trade union leader added that things cannot be allowed get to the point where there is no threshold of decency beyond which proposals won't go.
