The chancellor announced a compulsory national living wage for over-25s from next year that will rise to £9 an hour by 2020. What does it really mean?
No. Even once it has risen to £9 an hour by 2020, Osborne’s new national living wage will be below the level of the London living wage today. The living wage is set annually, and calculated as the amount a full-time worker needs to afford a decent standard of living. It is currently set at £9.15 in London, £7.85 in the rest of the country.
Continue reading...