The lower wage range equates to almost twelve euros an hour. This is the strongest increase in value since the wage floor was introduced in 2016.
In Great Britain, the minimum wage will increase by nearly ten percent on April 1. The Minimum Wage Commission LPC said on Friday that this was the “strongest increase in value” since the minimum wage cap was introduced in 2016. Hourly wages for over-23s rose by 9.7 percent to a minimum of £10.42 (€11.84).
“Around 1.7 million workers will directly benefit from this increase,” LPC said. Experts expect this to result in a pay rise for another five million low-wage workers, as “employers seek to maintain wage differentials across firms.”
Inflation has risen again in the UK
As justification, the Commission specifically refers to persistently high inflation. This affects the low-income population most severely. Inflation in Great Britain is still over ten percent. Unlike most European countries, it recently picked up again.
The UK government has pledged to raise the minimum wage to a third of the country’s median income by 2024. So LPC plans to increase further in the coming months.
(APA)
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