Bulletin

Nearly 5m workers to gain from living wage

People - Introduction of national living wage - SantanderCB

The introduction of the National Living Wage this week will boost the pay of 4.5m UK workers, according to analysis by the Resolution Foundation. 1.9m workers will benefit directly from the increase. A further 2.6m are expected to enjoy a 'ripple effect', as employers maintain pay differentials. The lowest paid workers will receive an increase at least 10.8% – four times the average projected pay rise this year. Sam Bowman, executive director of the Adam Smith Institute, warned that the NLW could hit low-skilled jobs, noting official estimates that it may cost 60,000 jobs. Meanwhile, councils are warning that social care services will be pushed to 'breaking point' by the introduction of the living wage. The Local Government Association said providers of care for the elderly and vulnerable will have to slash staff or risk going bust due to the impact of the measure.

 

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