Information Committee on Cost and Income Developments

On 22 October 2008, the Prime Minister’s Office appointed an Information Committee on Cost and Income Developments for a period of four years. Its predecessor is the Incomes Policy Settlement Commission.

The Information Committee prepares economic reports and estimates for collective bargaining and decision-making. The Committee monitors how labour market settlements are realised and assesses their impacts, taking account of euro area requirements and the stability and functioning of the labour market. In addition, the Committee serves as a discussion forum for assessing to what extend wage formation and collective bargaining can promote employment and advance the functioning of the labour market in the evolving circumstances.

The Committee also keeps track of labour market settlements reached in other countries and monitors the development of Finland's price competitiveness and issues relating to labour market policy negotiations. The Government or the Cabinet Committee on Economic Policy can, as necessary, assign the Committee to prepare studies on selected topics or request it to issue opinions.

The Committee supports the integration of economic and labour market policies and, based on international and national reference points, produces shared information for wage formation.