Three stories: 🔴 Living wage & minimum wage set to rise in budget 🔴 Facebook groups push users to 'extreme interests' - whistleblower 🔴 Petrol prices hit 142.94p a litre, data shows - beating 2012 record
Despite its name, the national living wage is not based on the true cost of living, however, increasing it to £9.50 an hour brings it closer to the actual living wage of those outside London, according to the Living Wage Foundation.
The Institute for Fiscal Studies said much of the increase in the living wage would be eaten up by inflation. "Third, rising inflation will also blunt the real-terms value of this minimum wage hike - and of course while prices are rising now, the increase in the minimum wage won't kick in until April."Please use Chrome browser for a more accessible video player"This underwhelming offer works out at £1,000 a year less than Labour's existing plans for a minimum wage of at least £10 per hour for people working full-time," she said.
He said:"We all need a wage that provides a decent standard of living. If we're to recover and rebuild over the coming months and years, we'll need to see more employers commit to go beyond this new government minimum, do the right thing, and commit to pay a real living wage." "Increasing the employment allowance, alongside reforming of upfront costs such as business rates, are the most important reforms called for today by the UK's small business community."
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