Bill: Pending P.B.01-034 | Government Wage Inflation Parity Act

Capt11543

Capt11543

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Capt11543
Capt11543
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Guarantee that government workers' wages and universal basic income are adjusted to keep pace with inflation.
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1 - Short Title and Enactment
(1) This Act may be cited as the Government Wage Inflation Parity Act, or “GWIPA”.
(2) This Act may be numbered as P.B.01-### (to be assigned by the Office of the Speaker).
(3) This Act shall be enacted immediately upon receiving assent from His Majesty the King.
(4) This Act was authored by MP Capt11543.
(5) This Act was co-sponsored by MP ItsStormcraft.

2 - Reasons
(1) The government wages set forth by the Pay Scale Act were set at a specific time by the interim Parliament, with consideration for the economic conditions at that time only.
(2) Government workers should be guaranteed a consistent standard of living in exchange for their work, and to be protected against high rates of inflation.

3 - Amendments to the Pay Scale Act
(1) The following new section shall be inserted into the Pay Scale Act:

“8 - Inflation Adjustment
(1) All fixed forms of monetary compensation or support issued by the Crown pursuant to law or Ministry policy, including but not limited to: wages; salaries; stipends; universal basic income; piece-rate payments; and other payments for work performed, or entitlements received; shall be automatically adjusted each month to preserve their real value in accordance with the monthly inflation rate reported by the Royal Bank of Alexandria’s Office of Economic Statistics, as published in their official report.
(a) In determining the exact adjustment, the following formula shall be used: B * (1 + I), where:
(i) B is the base amount of payment, and
(ii) I is the reported rate of inflation over the past month.”
 
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AMENDMENT 01
Following the filing of this Amendment, the Government Wage Inflation Parity Act shall be amended in the following manner:

"3 - Amendments to the Pay Scale Act
(1) The following new section shall be inserted into the Pay Scale Act:

“8 - Inflation Adjustment
(1) All fixed forms of monetary compensation or support issued by the Crown pursuant to law or Ministry policy, including but not limited to: wages; salaries; stipends; universal basic income; piece-rate payments; and other payments for work performed, or entitlements received; shall be automatically adjusted each month to preserve their real value in accordance with the monthly inflation rate reported by the Central Royal Bank of Alexandria’s Office of Economic Statistics, as published in their official report."
 
AMENDMENT 02
Should the associated Motion to Amend pass, §3(1) of the Government Wage Inflation Parity Act shall be amended by adjusting the new section which it inserts into the Pay Scale Act in the following manner:

“8 - Inflation Adjustment
(1) All fixed forms of monetary compensation or support issued by the Crown pursuant to law or Ministry policy, including but not limited to: wages; salaries; stipends; universal basic income; piece-rate payments; and other payments for work performed, or entitlements received; shall be automatically adjusted each month quarter to preserve their real value in accordance with the monthly inflation rate reported by the Royal Bank of Alexandria’s Office of Economic Statistics, as published in their official report average rate of inflation or deflation over the previous quarter, based on reports from the Royal Bank of Alexandria's Office of Economic Statistics.
(a) In determining the exact adjustment, the following formula shall be used: B * (1 + I + D * I), where:
(i) B is the base amount of payment, and most recent nominal value of the compensation,
(ii) I is the reported rate of inflation over the past month. average rate of inflation over the previous quarter, and
(iii) D is a discretionary band to be set by the Royal Bank of Alexandria, which may be no less than -0.2, and no more than 0.2.
(b) The adjustment shall be published by the Royal Bank of Alexandria each quarter; this publication must include a justification for the value the Bank chose for D.”
 
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