162 sources·Business

UK Minimum Wage Increase Raises Job Concerns Amid Economic Challenges

The UK will raise its minimum wage to £12.21 in April 2024, raising job fears amid economic challenges and significant tax hikes.

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Updated: Nov 3rd, 2024, 3:20 PM ET

Summary

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Starting in April 2024, the UK minimum wage will be raised to £12.21, affecting over 3 million workers. Despite the intention to support low earners, business leaders express concerns over potential job losses and decreased investment, particularly in hospitality and agriculture, due to significant tax increases. Critics argue this wage increase does not meet the Living Wage Foundation's recommendation of £12.60, creating ongoing debate about economic growth and the balance between supporting public services and fostering a healthy business environment.

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