For all employees, the minimum wage should increase to £15
According to the Trades Union Congress (TUC), the UK minimum wage should increase to £15 per hour “as soon as practicable.
Instead of the present reduced rate for those under the age of 23, it was suggested that this rate be applied to all employees.
For those over the age of 23, the minimum wage is £9.50 an hour, whereas it is £9.18 for those who are 21 and 22. Since the pace of price growth is at 10.1%, salaries do not buy as much.
The administration claimed that increasing the minimum wage may result in more unemployment.
Costs for food, gasoline, and energy are growing at their quickest pace in 40 years, which is driving up prices.
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Frances O’Grady, the TUC’s general secretary, said: “A reasonable quality of life should be affordable for every employee.
Millions of low-paid employees, however, struggle to make ends meet and are now being driven to the point of no return by skyrocketing costs and eye-watering bills.”
The administration said that it was “committed to make labor pay” and that this year’s minimum wage hike, which took effect in April, was the biggest increase ever. The minimum wage might increase too rapidly or be set too high, it was noted, which could result in more unemployment.
The TUC contends that rather than waiting for the next anticipated rise in April, when firms are expected to pay larger dividends to shareholders, the government should raise the minimum wage rates immediately to guarantee that employees get “their fair share.”
Beginning with low-paid employees who are “very concerned” about the impact energy price increases would have on their ability to pay for school uniforms and put food on the table, according to Ms. O’Grady on BBC Radio 4’s Today program
She said that raising the minimum wage would result in fewer employees claiming on-the-job benefits and more employees paying taxes and shopping on the High Street.
We are barely getting by.
Despite having eight years of experience in the industry, Kelly, 31, is paid the minimum wage for her front-of-house employment at a well-known London restaurant. Even if her income is supplemented by tips and her boyfriend is paid a salary, she has seen a reduction in her quality of life over the last ten years.
Living hand to mouth, she continued, “we are continuously in a vulnerable situation.” “[We] are being squeezed more and more.”
The owner of a clubhouse restaurant on a Norfolk vacation resort, Mark Hodges, age 66, said that increasing the minimum wage to £15 an hour would force eateries to increase their rates.
Despite the fact that it would be wonderful to see everyone go to £15 an hour, he remarked, “I cannot see how such a substantial hike – across all ages – will do our industry many favors.”
“If someone said let’s get to £15 an hour by 2027 so the industry has plenty of time to prepare and respond, then maybe it’s possible,” he told the BBC, adding that he wouldn’t want to see the minimum wage increase right away at a time when everything else is going up in price.
Additionally, if all occupations paid the same minimum wage, older employees would be forced to compete for positions that are presently filled by younger, less qualified workers.
“The ones who would suffer would be the young,” he said.
Before the minimum wage was originally implemented in 1999, several economists issued dire warnings that it may result in job losses because businesses would recruit fewer workers. But there hasn’t been any proof that the minimum wage has resulted in a general loss of jobs.
According to the TUC, global research indicates that raising the minimum wage does not result in job losses but rather increases in total salaries.
According to Ms. O’Grady, there was no reason for paying younger employees less. Younger employees (18 to 20) are compensated at least £6.83 per hour.
No of their age, Ms. O’Grady said, “it is obvious to me and I believe to many others that individuals need to be paid the rate for the work.”
Why should they face discrimination just because they are under 23 if they are working just as hard and performing the same job?
However, Matthew Percival, director of skills and inclusion at the CBI, which advocates for corporate interests, said that there shouldn’t be a new objective for the minimum wage and that any increase in its rate should be based on economic development and increased productivity generally.
“Where possible, businesses are raising pay, but rising energy prices are putting some of them in danger. In order to help companies and people affected by high energy costs, the government must act quickly and not only depend on the minimum wage “he said.
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The minimum wage is determined in reference to the median salary, which is the midpoint of all UK pay packets taken as an average. The minimum wage is currently expected to equal 66% of median salaries by 2024. The minimum wage goal should be 75% of that, according to the TUC, and salaries should increase for all employees to an average of £20 per hour.