Living Wage
(asked on 21st October 2015) - View Source
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what assessment he has made of the potential effect of the National Living Wage on wage growth.
This question was answered on 27th October 2015
The National Living Wage will mean a full-time minimum wage worker benefiting from the policy will earn over £4,800 more by 2020 in cash terms, a 40% rise on their current wage. Additionally, due to the ripple effect, up to a quarter of workers will see some benefit. The OBR estimate that economy wide wages will be on average 0.4% percentage points higher in 2020 due to the NLW.