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News - 21 September 2014

Labour leader Ed Miliband has pledged to raise the national minimum wage

The minimum wage is due to rise from £6.31 an hour to £6.50 on October 1, but Mr Miliband plans to add £1.50 an hour on to that by 2020.
 

His increase would add around £60 a week, or £3,000 a year, to the pay packets of workers currently on the minimum wage, he said the rise would save the taxpayer "hundreds of millions of pounds" in welfare payments.
 

One in five UK workers - more than five million people - are categorised as being on low pay, defined as wages of less than £7.71 an hour.
 

Mr Miliband said: "This week Labour's Plan for Britain's Future will show how we can change and how we can become a country that rewards hard work once again. Because Labour is the party of hard work, fairly paid."
 

Stuart Coleman, Manager of the Tax Department of ABDS comments:
“The promised rate is said to be similar to that in force in Australia and EU countries such as Belgium and Germany, but still lower than in France and New Zealand. This planned increase would affect around 1.4 million jobs, would be introduced in annual stages by the Low Pay Commission before October 2019 and would add around £60 a week, or £3,000 a year, to the pay packets of workers currently on the minimum wage.”
 

If you need any help and advice with your Books and Record or with PAYE,  general Bookkeeping, or in Outsourcing your Accounting Department, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar NOW to discuss how ABDS can help in all your business matters.
 

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net
 

Brilliant with numbers   
Great with people  
Clear and precise with advice
Timely and cost effective 
In touch with issues that face our clients and
mindful of their long term strategic goals

Helping Your Business is Our Business
 

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