National Minimum wage
The Trades Union Congress (TUC) has called for an overhaul of the current minimum wage “as quickly as possible”, suggesting that it should rise to “£10 an hour to provide young workers and apprentices with a better standard of living.” This proposal follows a report published by the European Trade Union Confederation which called for a European minimum wage, after it was revealed that rates across Europe varied significantly and failed to consistently provide young workers with a decent standard of living.
TUC is also concerned that younger workers are getting left further behind, as the national living wage, currently at £7.50 (and will increase to £7.83 from April 2018) only applies to those aged 25 and above. Those aged between 21 to 24 have a minimum rate of £7.05 (to increase to £7.38 from April 2018), while 18 to 20 year olds are only obliged to be paid £5.60 per hour (to increase to £5.90). TUC general secretary Frances O’Grady stated that “younger workers deserve to be treated fairly. It’s not fair that young adults are getting less pay than their colleagues for the same work. They face the same living costs”.
The minimum wage is an established tool of labour market regulation which plays a particularly important part in raising wages. It is essential that the minimum wage rises to improve fairness and equality and also consistency throughout Europe (where there are significant differences in the procedures and institutions to determine the minimum wage and also the levels of this). This would lead to an overall reduction of poverty and help stimulate economic growth.
For further information on the National Minimum Wage or any other Employment matter, please contact Joanna Alexiou on 02034901475 or via email to email@example.com