How much is the minimum wage? 3% rise announced
Britain’s minimum wage will rise to £6.70 per hour later this year, the biggest real-terms increase since 2008, Prime Minister David Cameron announced today. The minimum wage for apprentices will also rise by 20 per cent to £3.30 per hour.
Both changes will be introduced in October 2015 and, with continued economic recovery, the pay increase will have more of an effect than the one last year due to lower inflation. The extra 20p per hour adds up to £32 a month or more for those working full time. Many Dorset and Hampshire workers are paid minimum wage as we have thriving retail and hospitality sectors. Across the UK, around 5 per cent of workers overall take minimum wage.
This is clearly part of the Coalition’s plan to attract more votes in the upcoming election and, hopefully, workers and Dorset and Hampshire businesses will see many more measures to support them announced in the coming months.
“[The higher minimum wage] will mean more financial security for Britain’s families; and a better future for our country,” Cameron said. “This is just one of the many ways in which we’ve created a fairer society whilst building a stronger economy,” his deputy Nick Clegg said.
But Labour has countered with a pledge to raise the minimum wage to £8 by 2020. “Under David Cameron we’ve seen the value of the minimum wage eroded, we need a recovery for working people,” Labour’s business spokesman Chuka Umunna insisted.
For more information and to check eligibility, see www.gov.uk/national-minimum-wage/what-is-the-minimum-wage