REGISTER
LOGIN
Find a job
SEARCH
LOCATION
VIEW
ALL JOBS
JOBS BY
DIVISION
ADVANCED
SEARCH

National Living Wage

24-11-2015

A compulsory National Living Wage is due to be introduced in April 2016 for all working people aged 25 and over, and will be set at £7.20 per hour. The current National Minimum Wage £6.70 for those under the age of 25 will continue to apply.

 

What you need to know:

 

1. It will be introduced in stages

 

Companies will be required to pay a minimum of £9 an hour by 2020.The first increase will be introduced in April 2016, however, when workers will receive £7.20 an hour.

 

2. You will have to be aged 25 and over

 

The new National Living Wage will only apply to those aged 25 and over.It is being billed as a new "premium" on top of the existing National Minimum Wage, which will continue for those under the age of 25.

The government argues that a lower wage must apply to younger people in order for them to "secure work and gain experience" and to "maximize the opportunities" available to them.

 

3. Small firms will get extra help

Businesses small and large will be helped to make the changes to wages, George Osborne has said.Corporation tax is being cut by two per cent to 18 per cent in order to offset the predicted one per cent impact on corporate profits.

 

Extra help for small firms will come in the form of increasing the new Employment Allowance by 50 per cent to £3,000.Mr Osborne said: "That means a firm will be able to employ four people full time on the new National Living Wage and pay no national insurance at all."

 

5. Six million people will benefit

 

Those currently on the National Minimum Wage will see an increase of 70p an hour based on the current rate and 50p an hour compared to the planned October 2015 increase. 

 

The Low Pay Commission will then be tasked with deciding how the National Living Wage will reach the target of £9 by 2020.Some 2.7 million low wage workers will be given a direct boost by the changes, while a further 3.25 million people could also see an increase in wages as a result.

 

By 2020, an individual aged over 25 working 35 hours a week and previously earning the minimum wage will see their gross wages increase by around a third compared to 2015-16, or £5,200 in cash terms.

 

For additional information please feel free to contact me on 07894 508002 or email amanda-baker@industria-jobs.co.uk

NEWS HIGHLIGHT

Industria Listed in Leicester Top 200 Companies
Industria commit to honour the Armed Forces Covenant.
Association of Labour Providers

NEWS

March 2019
October 2018
June 2018
May 2018
January 2018
August 2017
July 2017
June 2017
May 2017
April 2017
March 2017
February 2017
January 2017
December 2016
November 2016
October 2016
September 2016
June 2016
May 2016
April 2016
March 2016
February 2016
November 2015
National Living Wage
October 2015
June 2015
March 2015
January 2015
November 2014
October 2014
September 2014
July 2014
May 2014
Our Industrial Division
Our Commercial Division
Our Driving Division
Our Construction Division
Our Technical Division
Executive Search & Selection
How we can benefit your business
Register today
Recommend a friend
Training and Apprenticeships
UK Branches
Our values
Modern Slavery Act
Meet our team
Careers at Industria
Gender Pay Gap Data
GDPR
LOGIN
REGISTER
Home
We Are Industria
UK Branches
Our values
Modern Slavery Act
Meet our team
Careers at Industria
Gender Pay Gap Data
GDPR
For Candidates
Register today
Recommend a friend
Training and Apprenticeships
For Employers
Our Industrial Division
Our Commercial Division
Our Driving Division
Our Construction Division
Our Technical Division
Executive Search & Selection
How we can benefit your business
News
Contact Us
Terms Of Use
Privacy Statement
Cookies Policy
Sitemap

ERROR

PASSWORD RECOVERY

SUBMIT

LOGIN

SUBMIT
LOGIN via Facebook > click here

ADVANCED SEARCH

More than one option can be selected in the dropdown lists. After selections please click the down arrow to close the list.
Industrial Jobs
Office Jobs
Driving Jobs
Technical Jobs
Engineering Jobs
Construction Jobs
Recruitment Jobs
Management Jobs
Permanent
Temporary
Contract
East of England
East Midlands
West Midlands
Yorkshire
North East
North West
London
Home Counties
South East
South West
Northern Ireland
Scotland
Wales
Ireland
Germany
EU
International
All
SEARCH

JOBS BY DIVISION

Industrial Jobs
Office Jobs
Driving Jobs
Technical Jobs
Engineering Jobs
Construction Jobs
Recruitment Jobs
Management Jobs