Thursday 14th of May 2009
The national minimum wage is to be increased later this year, the government has revealed.
A new rate of £5.80 per hour will apply to workers over the age of 22 from October - up from the current level of £5.73.
The move could help those who have debt worries as a result of difficulty making ends meet and business secretary Lord Mandelson noted that the minimum wage has made a significant difference to Britons on low incomes since being introduced ten years ago.
George Bain, chairman of the Low Pay Commission, added: We believe that the … recommendations are appropriate for this economic climate. They reflect the need to protect low-paid workers’ jobs as well as their earnings."
However, with unemployment predicted to continue rising this year, those who are concerned about repaying what they owe may wish to seek advice on debt management plans.
Last week the Trades Union Congress called for the increase, arguing against business organisations that wanted to see it frozen.
