Pay for workers on the National Living Wage (NLW) will rise nearly four times faster than for a typical worker over this parliament, according to new Resolution Foundation analysis marking the latest increase of the NLW to £7.50 an hour. Today’s 30p increase means pay for NLW earners is estimated to be 1.5 per cent
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Tag Archive for National Living Wage
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Autumn Statement 2016: National Living Wage goes up
by Ben Lobel • • 0 Comments
Chancellor Philip Hammond has revealed in the Autumn Statement 2016 announcement that the National Living Wage will go up from £7.20 to £7.50 from April next year for workers aged over 25, which could mean increased pressure on the margins of small businesses in many sectors. The increase is expected to give a much-needed boost to the
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Small businesses in financial distress as a result of National Living Wage
by Ben Lobel • • 0 Comments
According to research from insolvency firm Begbies Traynor, on October 1 2016 there were 97,342 businesses experiencing financial distress within the sectors most impacted by the National Living Wage; a 23 per cent increase compared to six months earlier when the regulation was first introduced (78,917 businesses as of April 1 2016). This figure includes 33,835 retailers,
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