Living wage Articles

What the Chancellor’s new Autumn Budget means for you

Revealed on Thursday, the Chancellor’s new plan to ‘restore stability’ and ‘build long-term prosperity’ will involve billions of pounds of tax rises and spending cuts.

It comes at a time when many households are already struggling with higher prices and falling real incomes. So what does the Autumn Budget mean for you and your family?

marketing | 15 September 2015
/ /

A new national minimum Wage (NMW) comes into force for employees from 1st October 2015.

The main adult rate (21 and over) will increase from £6.50 per hour to £6.70 per hour.

18-20 year olds will increase from £5.13 to £5.30/hr.

16-17 year olds will increase from £3.79 to £3.87/hr.

The apprentice rate has the biggest rise going from to £2.73 to £3.30/hr.

The new Living Wage doesn’t come into effect until April 2016 for workers aged over 25 and will see a rise to the minimum pay rate to £7.20 per hr.

New National Minimum Wage regulations will take effect on April 1st and all employers will be required to meet them.

The National Living Wage will apply to employees aged 25 and over and it will essentially mean that employers will have to pay their staff an extra 50 pence per hour, with the rate set at £7.20.

The requirement could put many small and medium sized business owners in a difficult position, particularly if they operate in the margin-conscious retail sector or employ a lot of minimum wage employees.

marketing | 10 April 2015

You may have heard on the news the phrase the “Living Wage” and wondered like us what it is.

The Living Wage is the amount it is estimated people need to earn to support their living costs. The amount is higher than the National Minimum Wage which by law companies have to pay.