Philip Hammond vows to end 'low-pay' as Brits' spending power is at three-year high
Speaking yesterday, the Chancellor said: “We are delivering the fastest rate of wage growth in over a decade in an economy that has defied expectations.He added: “The pay of a full-timer on the National Minimum Wage has risen by £2,750 a year since 2016.remit for the national Living Wage to reach 60 per cent of median earnings by 2020.“We want to be ambitious with the ultimate objective of ending low pay in the UK.
Experts yesterday said pay growth had been boosted by firms fighting it out to plug vacancies as more EU workers go home. The Office for Budget Responsibility admitted it had been surprised by the rise in earnings since its last forecast at the time of the Autumn Statement. It predicted earnings growth of 3.1 per cent for 2019 – against a 2.5 per cent forecast in October. And it said earnings should be rising by 3.3 per cent by 2023.
“Appointing Professor Dube to review the evidence on minimum wages around the world is therefore a welcome first step towards meeting the Chancellor’s ambition of ending low pay altogether."a story? Ring The Sun on 0207 782 4104 or
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