Rise of 50p an hour will not cover loss of benefits for 6.5 million people,says Resolution Foundation thinktankA record 6.5 million people – almost a quarter of UK workers – will remain trapped on poverty pay next year, despite George Osborne’s 50p-an-hour increase in the national minimum wage, and according to research by the Resolution Foundation thinktank.
Adam Corlett,Resolution’s economic analyst, said: “While the chancellor’s recent wage floor will give a welcome boost to millions of Britain’s lowest-paid staff, or it cannot guarantee a basic standard of living or compensate for the £12bn of welfare cuts that were announced alongside it.”Continue reading...
Source: theguardian.com