Pay is an important concern for all employers. The IoD are very pleased to contribute to the current consultation on behalf of our members.
This paper presents the IoD’s comments on some of the key issues raised by this review and presents the views of the IoD’s members on the future of minimum wage and statutory pay obligations in the UK.
Since 1998, Low Pay Commission has set the minimum wage based on its calculation of the highest level that would not damage employment. In July 2015, the chancellor effectively replaced the minimum wage with the new national living wage for those aged 25 and over, calculated to move towards a target 60 per cent of median income by 2020.
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