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National Living and Minimum Wage Update

By Julie Keen. Posted On 7 Dec 2017. Last Updated 7 Dec 2017.


In the recent Autumn Budget, it was announced that there will be an increase in the Nation Living and National Minimum Wages. Of course, this is great news for minimum wage earners that work full-time as this will result in a wage increase of £600. However, how will this additional 4.4% rise in wages affect your business?

Although there has been an increase of 33p an hour, it still falls short of the £ 8.75/hour (£ 10.20/hour in London) The Living Wage Foundation Group believe employee’s need to earn to support their families. Who knows what the next budget announcement will bring, would your business survive these wage rises should they become a reality in the next announcement?

 

 

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