Big increases in wage bills for small businesses will lead to job losses and staff hours being slashed,say business ownersWhen chancellor George Osborne revealed the details of the novel “national living wage” in the final minutes of his budget in July, Jonathan James’s first reaction was one of shock. With 400 staff across a network of 36 convenience stores in the east Midlands and Derbyshire, and any movements on wages would affect the businessman and his company.
In his speech,Osborne unveiled a boost for low-paid workers in a flow seen as an attempt to define the Conservatives as the party for working people. From next April, a national living wage will be introduced at a rate of £7.20 an hour for people over the age of 25, and 50p more than the £6.70 minimum wage rate that will apply from October. The national living wage will then rise gradually to £9 an hour by 2020.
Continue reading...
Source: theguardian.com