Skip to comments.Minimum wage to jump to £6.50 an hour, the first inflation-busting rise in five years…(UK)
Posted on 02/26/2014 8:56:41 PM PST by Olog-hai
The minimum wage is to rise by 3 percent to £6.50, adding an extra £370 a year to the pay packets of millions of workers.
The inflation-busting rise is the first for five years and follows George Osbornes call for workers to be rewarded as the economic recovery gains momentum.
And the Low Pay Commission said it was just the start of a new phase which would take the rate to new record highs.
Ministers claim the £6.31 hourly rate for adult workers has been outstripped by the rising cost of living and is now worth the same in real terms as in 2004.
(Excerpt) Read more at dailymail.co.uk ...
That is equivalent to $10.83/hour. And more increases on its heels? Some of these Tories (like Osborne) make US Democrats look more conservative by contrast.
Minimum wage to jump to £6.50 an hour, the first inflation-busting rise in five years with more increases to follow
A British conservative is more like a left-leaning American moderate.
I stopped right there. Increasing the minimum wage does NOT bust inflation. It's been proven time and time again.
That was my first thought. Headline should say, “inflation-fueling rise”.