Publication date:
Tuesday, February 25, 2014
The Low Pay Commission has recommended a 3 per cent rise in the statutory minimum wage from 1 October 2014, lifting the main adult hourly rate from £6.31 to £6.50. Given the current inflation forecast of 2.3 per cent, this would represent a small real-terms increase – the first such increase for five years.
In a letter to the Business Secretary, Vince Cable, the Commission said the recommended rise would mean the number of jobs covered by the minimum wage would increase by over a third, to one and a quarter million.