Revamp: 'I've just had a brief look at the new website. I have to say it looks fantastic! Congratulations to all concerned on the obvious hard work put in.'
10/06/2015
The National Living Wage (NLW) is likely to rise to around £7.50 an hour from April 2017, 10p lower than the rate predicted last March due to the weaker outlook for pay in the wake of Brexit, according to a report from the Resolution Foundation. The generally weaker forecast for pay growth means that the NLW (which is linked to average pay) is unlikely to reach £9 an hour by the end of the current Parliament as predicted by the Office for Budget Responsibility.
However, the report accepts that the NLW is still set to transform Britain’s ‘low pay landscape,’ lifting more than 800,000 workers out of low pay by 2020.
Conor D’Arcy at the Resolution Foundation said:
‘As we approach the Autumn Statement we’ll soon learn what the NLW will be next year. An increase to around £7.50 will deliver a welcome annual pay rise of up to £600 for full-time staff. Though that’s less than the £800 raise previously forecast, it’s sensible that the size of the NLW rise adjusts in line with wages of typical workers.’