National Minimum Wage Increased From Wednesday

Over 1m people in the UK are set to benefit from an increase in the National Minimum wage. From Wednesday 01st October 2008, the minimum hourly rate for a 22 year-old will increase by 21 pence to £5.73.

The Increases;

• Workers aged 22+ - (£5.73 up from £5.52, +3.8%, +£0.21 / +£8.20)
• Workers aged 18-21 - (£4.77 up from £4.60, +3.7%, +£0.17 / +£6.80)
• Workers aged 16-17 - (£3.53 up from £3.40, +3.8%, +£0.13 / +5.20)

Unions are calling on the Low Pay Commission (an independent organisation that sets the rates annually) to give a substantial increase in October 2009 to help those that are being adversely affected by the increased cost of living due to higher energy and food costs. Inflation at a 16 year high, is currently at 4.7%, in excess of the NMW increases. Unions argue that those on low incomes spend a higher proportion of their income on energy costs and should be given a fairer wage increase to reflect this.

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