Biggest Minimum Wage Rise In 7 Years
The biggest minimum wage rise in years from £6.50 to £6.70 an hour starting in October, the government has announced.
The minimum wage for younger workers is also set to rise. Apprentices are also going to see a 20% increase in their wages, bringing minimum pay up to £3.30 per hour.
These changes will benefit more than 1.4million workers throughout the UK. The Low Pay Commission, an independent body who advises the government on minimum wage rates advised the government pushed NWM up by 7p, however the government went further at 20p for workers, and 57p for apprentices.
Prime Minister David Cameron said the across-the-board increases would offer “more financial security” to workers, and “a better future” for Britain.
All political parties have their own stance on what minimum wage should be, with labour promising an increase of £1.50 bringing it up to £8.
Speculation has already arisen as to why the apprenticeship minimum wage rise was so vast, with some fearing that employers may be put off hiring apprentices at the significantly higher rate. Hiring apprentices for cheap labour has been a devious tactic used by many business’ big and small across the UK. My understanding is that this wage increase will divert companies like this from taking on apprentices.
Are you on minimum wage.. what does the minimum wage rise mean to you?
Business owner? How is the minimum wage rise going to effect you and your company?
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