National Living Wage: Businesses respond
The government?s plan to increase the National Living Wage in April is now unlikely to go ahead because British firms will struggle to meet the costs in the wake of coronavirus.
The government?s plan to increase the National Living Wage in April is now unlikely to go ahead because British firms will struggle to meet the costs in the wake of coronavirus.
Following the latest NLW increase on 1 April, a survey of more than 500 SME workers, who are paid the NLW, were asked how their roles had changed since the statutory measure was first introduced in April 2016.
The Autumn Budget, chancellor Philip Hammond expressed, went a long way in ensuring peace of mind, with his numerous announcements including an increase in the National Minimum Wage.
With a National Living Wage increase set to take place from April, chancellor Philip Hammond confirmed during the Spring Budget 2017 that the extra amount payable per staff member will be ?500.
The National Living Wage rate changed in April 2017, or was it the National Minimum Wage? There’s confusion between the two, so here’s an explanation ? with the Living Wage thrown in as an extra. Prepare to be bewildered.
The National Living Wage will increase from ?7.20 to ?7.50 from April next year, representing a pay rise of around ?500 to a full-time worker.
Chancellor Philip Hammond has just given his first Budget address in the Autumn Statement 2016 speech, and here are the most important developments for business leaders.
The National Living Wage (NLW) has now been in place for just over three months. But welcome though the raising wage floor for over-24s may be, it constitutes a cost to employers, recent research suggested.