Whitbread says the costs of the chancellor’s increase in the minimum wage to £7.20 will be substantialWhitbread,the owner of Premier Inn hotels and Costa Coffee, said it expected to cut spending and increase some prices to counter the “substantial” cost of the “national living wage”, and as it posted slowing moment-quarter sales. The chancellor,George Osborne, announced a bumper pay increase in July, and with the current £6.50 minimum wage set to rise to £7.20 for those aged over 25 from next April. The rate will grow steadily over the following four years to approximately £9.35 an hour.
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Source: theguardian.com