The move puts Britain on track to meet its target for the minimum wage to reach 60% of median earnings by 2020, it added.
Britain’s unemployment rate has fallen to its lowest since the 1970s and employment recently hit a record high, despite the minimum wage rising by more than a quarter since 2015 to now stand at 8.21 pounds an hour for those aged 25 and over.Minimum pay rates for younger workers will also increase by between 4.6% and 6.5%, depending on their age, the government said.
“For this policy to be sustainable, government must offset these costs by reducing others – and impose a moratorium on any further upfront costs for business.” In 2015, faced with complaints about stagnant living standards, Conservative finance minister George Osborne said he wanted to raise the minimum wage for over-25s to 60% of median earnings by 2020 – implying bigger annual increases.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Thundershowers forecast for Gauteng - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The South African Weather Service says Gauteng province will experience showers and thunder-showers overnight until Monday morning. Kanjani mina ngihamba ngebhayisikili eish lelife It is God's blessing
Source: SABC News Online - 🏆 32. / 51 Read more »
Ban on livestock sales continues - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.%The National Department of Agriculture, Land Reform and Rural Development says the ban on livestock sales imposed on all provinces, has not been lifted.%
Source: SABC News Online - 🏆 32. / 51 Read more »
2019 Year in Review - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.It was a year of exhilarating highs and soul-crippling lows. 2019 brought us South Africa's 6th democratic elections, a Rugby World Cup trophy, and the deepening scourge of gender-based violence. obvious black girl magic !!😍 Worldcup and Zozi Growth of The EFF🙏
Source: SABC News Online - 🏆 32. / 51 Read more »
Education department denies lowered mathematics pass requirements reports - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The Department of Basic Education says social media posts suggesting that the minimum pass requirements for mathematics have been 'lowered to 20 %' for Grades 7 to 9, is fake news. With the current high unemployment rate anything is possible
Source: SABC News Online - 🏆 32. / 51 Read more »