What, cost of living crisis!27 Mar 2024 08:01
“British businesses trimmed their plans for staffing and wage increases this month, according to a survey published on Wednesday that suggested April's big increase in the minimum wage is weighing on employers.
It's possible the impending minimum wage rises in April are beginning to come into sharper focus for businesses – especially smaller firms.
Britain's minimum wage will rise by nearly 10% next month, and supermarkets and other retailers that pay staff only slightly more have raised pay ahead of the increase.
The BoE, which last week kept interest rates on hold, has said wage growth remains high despite signs of a slowdown.
The introduction of the minimum wage 25 years ago is the single most successful economic policy in a generation.
The share of workers on low pay - defined as an hourly wage less than two thirds of the median - fell from 22% in 1999 to 9% in 2023.
Relative to typical wages, Britain's minimum wage is now one of the HIGHEST among advanced economies - similar to that in France and South Korea.”
You lucky people, you've never had it so good. That's the Tories for you.