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The minimum wage is set to increase to £6.70 an hour- the largest increase since 2008. The wage rise will benefit more than 1.4 million workers, and Ministers are hoping this will create a “feel good factor” before the May elections.
The hourly rate for younger workers will also rise, and for apprentices it will go up by 20% to £3.30 an hour.
David Cameron believes this wage rise will improve financial security for many families across the UK, “today’s announcement is all about, saying to hardworking taxpayers, this is a government that is on your side. It will mean more financial security for Britain’s families and a better future for our country.”
However, the TUC General Secretary, Frances O’Grady feels the rise isn’t enough. “For the low paid to get a fair share of the recovery, this was a year in which we could have had a much bolder increase in the minimum wage.”
The Shadow Business Secretary also feels the government should have done more, “This 20p rise falls far short of the £7 minimum wage which George Osborne promised over a year ago. Ministers have misled working families who have been left worse off. Where under David Cameron we’ve seen the value of the minimum wage eroded, we need a recovery for working people.”
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