National Living Wage £11.44 from Apr 2024

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What do people think?

This is pretty decent I think.

It also starts at age 21 instead of the current 23, with under 21s getting the much less National Minimum Wage (not so decent).

The national minimum wage is going up by £1.02 per hour. If business can't afford that, then they're not making enough money. There's something wrong somewhere and I do think this country is in a worse state that we thought if an extra quid per hour will bankrupt employers.

@PurBal

And what do you think is "the point" of a supermarket job?

I'm in a supermarket with two degrees and a jet-setting career in advertising in my past (all of which I hid to get the job). I'm there whilst I'm building up something else. There is no point to this job just that I can shut the door on it to get the other things done. There was more so no point to my high-flying career. I literally cried in burnout that it's no different to a conveyor belt - stats, budgets, campaigns, reports, stats, budgets, campaigns... Thankless. Endless.

Find something you WANT to do in a workplace that values your input.

The supermarket is a good option only if you don't feel like you've compromised to be there. Don't compromise.

Will you be paying your evening babysitter at least £11.44 an hour if they are age 21 or over? In some places you probably already do, but not UK wide.

Will pre-schools and nurseries be able to pay staff, given the funding levels? Staffing is likely their highest overhead. That cost has to be passed on to parents somehow.
More pre-schools and nurseries will close as a result of this minimum wage rise.

Minimum wage rise is great for working parents but it may mean that they no longer have childcare. So, net result is less parents (mainly women) in the workforce, as they will be at home caring for children.

I think it's great that they've raised the NMW, however I work in Education and just get over this at the moment. I line manage 70 staff alongside another member of staff and can be very stressful. Think I'll be looking for a less stressful job.

It will be interesting to see what happens with the NHS. I'm band 2 £11.45 an hour. Can't see much reason to stay in such a toxic stressful environment when I can go and work somewhere nicer for the same pay. We need people, not to lose them.

As previous posters have said, I'm currently on £11.60 per hour for a job that's really tricky. If I get a pay rise - which I ought as this is not an entry level role - others around me will need one. Our projects have fixed budgets so it'll be a tough sell.

@penjil
Scandalous to not be able to stretch the mark in by another £600 a month?

That doesn't include employers tax and pension liability.

It's scandalous that you seem to think independent businesses can pull that amount per month extra out of their arse and not feel the hit to be honest!

Are you employed?

Self employed have to cover holiday pay sick pay and god forbid a pension for themselves let alone employees.

Add that to the monthly break even figure alongside utility prices and stock oh and let's not forget the tax/national insurance and then you would see what a difference it would make.

If you read my first post youl see I say I totally agree we all need to be paid more but like others as well as myself have pointed out it's not as simple as that.

As an accountant talking to SME everyday a lot of them are loss making, this will cripple them. Don't believe everything the government tell you. Try asking a few as you go about your day, the corner shop, the petrol station dog walker, school, nursery, hairdresser. They will all tell you the same, well in my town they will.

It's fair for self-employed people and SMEs to worry about the extra costs but have you forgotten - who is paying your way, who are your customers?

If they're lower earners they need pay rises to keep paying for your goods/services so the money will get ploughed back to you, if your goods/services are needed. Otherwise they can't afford to buy and you'll end up worse off.

If though you're a luxury service or just unaffordable so you're relying on higher earners to fund you then I'm sorry but the economy can't keep you going on the back of cheap labour!

It boils down to the fact that 4 people on 25k a year will spend more of that £100k total into the general economy than one person on £100k so the more people that get the raises the more will come back through the economy.

If the ones that were earning above NMW get the pay gap squeezed it means that either your skills aren't worth any more when the money starts following or, for public services, nurses etc, that the government doesn't want to keep you because they're happy for the country to burn if they get rich 😞

Well companies will be able to fund it but in order to do this they will have to put up prices or cut costs - both will have a huge impact on the economy

You cannot compare a charity to a business

It's not difficult - if a small business has £3k a week to use for wages that won't change if the hourly rate goes up - and as others have said it is not just about paying the lowest paid more but you have to keep the differential so everyone's wage goes up so they will either cut hours or cut staff. I get the feeling a lot of people on here have never run a small business and don't understand that if you just put prices up you will usually lose business. A lot are running on no-minimal profit margins right now. We have been considering for a while that we would probably make a better living as a single trader!

There are so many independent shops, cafes, pubs and other service industries closing/closed where I live.

I agree a full time job should, as it used to, pay an adult a wage that permits them to keep a roof over their head and raise a family well above the poverty line (otherwise what is the point of society?) but to get back to that we need to rebalance completely - particularly rent, tax and utilities. Low earners should not pay income tax at all in my opinion - the burden needs to be shifted onto big business and high earners.