The tories have created what I think is going to be an interesting time with there £9 minimum wage by 2020 For around 9 years my charge out rates havnt moved nor the £9 per hour I pay folk however once that becomes the minimum plus holiday pay and NI to maintain the differentials for skilled folk it implies a 30-40 % increase of costs that will be passed on to the consumer thus fueling inflation and back to where we were . Hard pressed local authorities who are outsourcing care with the private sector are also going to face an impossible situation costs will rise unless your under 25 as the living wage doesnt apply to youngsters, it will impact the missus to i reckon since employers will be looking to shed older staff
I agree with some of what you say Keith, as you say it could ultimately end up with the older staff being pushed out. As always the skilled workers have an easier time finding work than non skilled. The new rulings are a long way off though and things could change, if you voted Tory then you voted to give the poorer people in the country a kicking.
My wife likes the sound of £9 per hour. Not sure how she will get on with work when the nipper is of school age. I dont think she will have much difficulty getting a job here in IOM as she will qualify as a Manx worker next year. But we may move back to the UK yet. Minimum wage here is £6.65 per hour. Though it may well go up, shadowing the UK figure.
I think a minimum wage is great in theory but has Keith has stated, it has financial repercussions for the small business especially.
40 x 9 x 52 = £18720 ....ish. No more not meeting the financial requirements Just would need any old full time job.
Its not for a few years yet, do you think that the financial requirement will stay the same as it is now? I do not think so.
