Minimum Wage to rise by 10%

[1finny]

From April 2024
its over £1 an hour more

Anyone know if there is an election due?

Devil is in the detail - the government will gvt back a slug of it in tax.
Quite a good business model really - get employers to pay more and the gvt takes the tax benefit
Also allows them (in their world) to attack those on benefits and reduce costs further

 

[ThePrisoner]

They are bragging that the living wage will now be 2/3 of median wage. People will buy that s a positive, whereas it shows how depressed wages for many people are.

 

[sadgit]

I've not had a pay rise in 7 years... (also off sick for 18 months) but still.

 

[1finny]

They are bragging that the living wage will now be 2/3 of median wage. People will buy that s a positive, whereas it shows how depressed wages for many people are.

Even worse - Hunt has said it ends low pay in this country.
Easy eh?

 

[brattleboro]

is that for everyone?

 

[JM14]

Fully expected close to an election. Let’s just hope people don’t forget we are still all significantly worse off than when this government came to power.

It can only be a positive if benefits rise by the same about, otherwise those at the very bottom financially will loose out even more

 

[RedAsABeetroot]

They are bragging that the living wage will now be 2/3 of median wage. People will buy that s a positive, whereas it shows how depressed wages for many people are.

I think this is causing major problems. There are some employees who will increase their wages across the board as a result of this. This then leaves people in key jobs thinking why do I need to earn 10% more for 100% more hassle and responsibility.

 

[brattleboro]

they are simply trying to buy votes,but it wont work ,the damage has been done by the thieving bxxxxxds

 

[Muttley]

It's a no lose for them. Looks even more likely that we will get a GE in May so they will never have to pay for it but it might keep a few more seats blue rather than lose them.

 

[ThePrisoner]

I think this is causing major problems. There are some employees who will increase their wages across the board as a result of this. This then leaves people in key jobs thinking why do I need to earn 10% more for 100% more hassle and responsibility.

Word salad.

 

[TeaCider]

It's a no lose for them. Looks even more likely that we will get a GE in May so they will never have to pay for it but it might keep a few more seats blue rather than lose them.

Higher minimum wage and the Tories still getting booted out handily would be lovely.

 

[Nero]

They are bragging that the living wage will now be 2/3 of median wage. People will buy that s a positive, whereas it shows how depressed wages for many people are.

Exactly. Loads of people, particularly those in professional public sector jobs have deliberately had their salaries suppressed since 2010. Plenty will see through this b***ks by a desperate party attempting to cling onto government.

 

[1finny]

Exactly. Loads of people, particularly those in professional public sector jobs have deliberately had their salaries suppressed since 2010. Plenty will see through this b***ks by a desperate party attempting to cling onto government.

There is usually a knock on effect tho
Minimum wage goes up so the differentials need to go up to keep the so called skills gap worth having.
In our business a team leader is on £1 more than those on minimum wage - we will want to maintain that gap.
The sting in the tail? Most businesses will want to limit their cost with efficiencies - errrrr job cuts.

 

[Littlefella68]

Everything just goes up in price in response. Surely cutting vat would be a better option for the average person

 

[StillCantPickAUsername]

Word salad.

Does that mean same as word soup?

 

[Redwurzel]

Ref Living Wage

For those working on Universal Credit - don't they lose benefit to compensate for the living wage rise?

If they are not on UC - 32% of the rise goes straight to the Government in income tax and NI.

What they really should do is increase Income tax allowances for basic tax - £12,570 is very low. It might come tomorrow. Increasing by £3,000 would put £600 a year into the pockets of low income individuals who earn at least £15,570.

 

[StillCantPickAUsername]

Healthcare assistants will be on a penny more per hour than every other minimum wage job around.

 

[lostinyorkshire]

Ref Living Wage

For those working on Universal Credit - don't they lose benefit to compensate for the living wage rise?

If they are not on UC - 32% of the rise goes straight to the Government in income tax and NI.

What they really should do is increase Income tax allowances for basic tax - £12,570 is very low. It might come tomorrow. Increasing by £3,000 would put £600 a year into the pockets of low income individuals who earn at least £15,570.

this is exactly the right thing to do.

 

[thewanderer]

Ref Living Wage

For those working on Universal Credit - don't they lose benefit to compensate for the living wage rise?

If they are not on UC - 32% of the rise goes straight to the Government in income tax and NI.

What they really should do is increase Income tax allowances for basic tax - £12,570 is very low. It might come tomorrow. Increasing by £3,000 would put £600 a year into the pockets of low income individuals who earn at least £15,570.

Noo the tax free allowance is already too high. Best put more cash into UC.

 

[1finny]

this is exactly the right thing to do.

I’ll tell that to the colleagues in my business who will ask for less hours because the loss of benefits doesn’t compensate for the gain in taxable living wage.

And, some of them, for all sorts of reasons will still rely on food banks.