His Majesty’s Cabinet has approved on 4th August 2017 the usual annual adjustment to their remunerations due to the increase in the Cost of Living Allowance (COLA) of 5% to the Ministerial allowances, effective as from 1 July 2017.
In 2015, His Majesty’s Cabinet resolved that it was only the Civil Servants that would be awarded with a 5% COLA. The Ministers’ similar entitlements were put on hold for now two years. The decision to pay out the 5% COLA for the Hon. Cabinet Minister’s excludes their entitlements to a back pay for the last two years. Nonetheless, the decision to award the Hon. Cabinet Ministers with 5% COLA was prompted by the increase in the income tax imposed on the Hon Cabinet Minister’s annual salary by 24%, commencing 1st July 2017.
In 2005, the Civil Servants was awarded a range of salary adjustment by 60, 70 and 80 percent increases in their income. This was followed by another 10% Cost of Living Allowance in 2009 and again with a 6% increase in 2014. The last salary adjustment of the Civil Servants was a 5% Cost of Living Allowance in 2015.
This is the first salary adjustment applied for the Ministers of the Cabinet since their admission to their respective positions.