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News - 19 May 2014

Labour's minimum wage plans set out.

 Labour Party Leader, Ed Miliband says a Labour government would set a statutory minimum wage target linked to average earnings, as he sets out plans to tackle low pay. The exact details of the plan will be explained closer to the General Election.

 
Both the Conservatives and Liberal Democrats have already said they want a rise in the minimum wage.
 
In a speech following the launch of the report, Mr Miliband said:
"Britain is still one of the lowest-paid countries among the world's advanced economies. So we have to go further. We have to write the next chapter in the history of Labour's battle to make work pay.”
 
Tonmoy Kumar, Manager of the Accounts Department of ABDS comments:
“Mr Miliband stated that he wanted the minimum wage to rise in proportion to average earnings during the next parliament, emphasising that he was setting out a "framework" rather than an exact figure, and that Labour would consult businesses on the conditions.”
 
Liberal Democrat Business Secretary Vince Cable has also proposed setting a long-term target and Chancellor George Osborne has called for the minimum wage to rise to £7 an hour.
 
Katja Hall, chief policy director of the CBI business group, told Today: "I think we need to recognise that the system we have at the moment has been really successful and that system involves the setting of the minimum wage by an independent Low Pay Commission.
 
The minimum wage will increase by 19p an hour to £6.50 from October.
 
If you need any help and advice with your PAYE, RTI or CIS, or looking to outsource your Payroll Department, contact ABDS NOW to discuss how we can help.
 
ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900 E-mail: abds@netaccountants.net
 
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