Business By Kevin Peachey Personal finance reporter 27 November 2018 comments Share this with Facebook Share this with Messenger Share this with Twitter Share this with Email Share this with Facebook Share this with WhatsApp Share this with Messenger Share this with Twitter Share Share this with These are external links and will open in a new window Email Share this with Email Facebook Share this with Facebook Messenger Share this with Messenger Messenger Share this with Messenger Twitter Share this with Twitter Pinterest Share this with Pinterest WhatsApp Share this with WhatsApp LinkedIn Share this with LinkedIn Copy this link https://www.bbc.com/news/business-46357899 Read more about sharing. These are external links and will open in a new window Close share panel Employment levels have held up following a rise in minimum wage levels despite … [Read more...] about Minimum wage rises ‘hit profits, not jobs’
Minimum wage rise
Millions of workers are set to see their pay jump in April as the National Living Wage jumps to £8.21 an hour. This is the hourly rate for those aged 25 or over and working in Britain. The minimum wage for those aged 16-24 also will also go up, while the pay for apprentices will go up by an extra 20p an hour. The new rates were announced in Chancellor Philip Hammond's 2018 Budget when he announced how much it's set to rise in 2019. It comes after Theresa may pledged to end austerity at the Conservative conference in September, saying "a decade after the financial crash, people need to know that the austerity it led to is over and that their hard work has paid off". However the new rates haven't gone down well with critics. Union the TUC described the Government's pay rise as a slap in the face for hard-pressed workers. General Secretary Frances O’Grady, said "families can’t make ends meet without being forced into the red," and the Government must address this. … [Read more...] about At least 2 million people to get a pay rise next month as minimum wage rises
Jeremy Corbyn wants to give low paid workers a pay rise by increasing the minimum wage. Labour has promised to introduce a 'Real Living Wage' of £10 an hour. However, the policy has been dismissed as a "soundbite" to generate positive headlines. The Claim Labour would give six million low paid workers a wage rise of more than £2,600 per year, the Daily Mirror reports . Corbyn used a visit to Worcester to attack the government for creating a "perfect storm of low pay, insecurity and working poverty". He said that Labour would put more money in the pockets of workers. According to analysis by the House of Commons library, Labour's pledge to raise the National Living Wage to £10 an hour in 2020 would give workers a boost of £2,640 to workers on the payment level. The Labour leader also addressed the number of families who do not have any savings. Research from the party found that adults living in families, where one or more person is working, without any savings has … [Read more...] about Should the minimum wage rise to £10 an hour?
Ljubljana, 12 February - The newspaper Dnevnik writes on Tuesday that the increase in the minimum wage leaves a "bitter aftertaste", as it says in the headline, because the effect of the rise is being reduced or even cancelled out by the reverse adjustments in social benefits, non-adjustment of tax legislation and higher prices of nursery school and retirement home care. The rest of this news item is available to subscribers.Buy the news item. Price: 2 tokens; on account: 0 tokens. … [Read more...] about Dnevnik notes downsides of minimum wage rise
The 2014 introduction of the minimum wage, initially set at €8.50, was heralded as an example of the ability of Germany’s ruling coalition to cooperate effectively. Although it was initially opposed by some chambers of commerce as being potentially damaging to the country’s strong economy, four years later there have been few negative impacts. Fears that the increase would lead to job losses, particularly in the former East, were largely unfounded. "Below the poverty line" Unions, while initially welcoming the wage law, argue that the current minimum is too low to live off for many across the country. Verdi Union CEO Frank Bsirske told DPA “in 2020 the minimum wage should be raised again, because it is simply too low to live off”. Reiner Hoffmann of the German Trade Union Confederation told DPA that he was aiming for a wage increase to €12. “The minimum wage must rise in the medium term and … [Read more...] about Minimum wage rise in 2019 “insufficient”: Unions