The Low Pay Commission has to report to the Government by July 15

Ireland has one of the highest minimum wages in the developed world, a new survey has revealed.

The study found that Ireland has the fourth highest minimum wage of all of the Organisation for Economic Co-operation and Development member countries.

The OECD is an international economic organisation made up of 34 of the most developed countries on the planet including Japan, Germany and the US.

The study, which looks at statistics from 2013, looks at the amount that workers on the minimum wage would take home after taxes.

Ireland was found to rank fourth in the table with an after tax rate of €7.49 per hour (the net minimum wage rate is €8.65).

Australia ranked first with €8.44, while Luxembourg and Belgium were second and third with a rate of €8.18 and €7.58 respectively.

Mexico ranked last with a rate of just €0.90 per hour while Chile and Latvia ranked near the bottom with respective rates of €1.96and €1.29.

The minimum wage in Ireland is currently being reviewed by a Low Pay Commission, who are due to report to the Government in July on whether there should be any increase in the country's minimum wage.

Online Editors