UK Minimum Wage to rise – will it affect your business?

UK Minimum Wage to rise – will it affect your business?

The Business Secretary Vince Cable announced today that the minimum wage in the UK is set to rise on the recommendation of the Low Pay Commission.

Adult minimum wages will increase by 21p per hour to £6.31 and by 5p to £5.03 for 18-to-20 year olds, in line with what the commission recommends. Mr Cable also announced a 3p raise for apprentices despite the commission recommending a freeze due to non-compliance. He also said the Government were working on tough new measures to combat this non-compliance.

Reaction to the news has been mixed. The EEF manufacturer’s organisation said the apprentice wage rise was unlikely to negatively impact on apprenticeships and the TUC praised the extra helping hand for those on the lowest wage. In contrast, the British Chambers of Commerce said the adult rate increase would add even further to the strain on UK businesses.

Let us know your story in the comments below if you are pleased, upset or really not fussed by the increase.

via BBC Business News

comments powered by Disqus
WinWeb Business Cloud - Creating Financially Sustainable Businesses