£10 minimum wage if Labour win next election
10 April 2017
Labour’s proposal to raise the minimum wage to £10 per hour by 2020 would boost the income of 5.6 million people, more than 20% of the UK’s workforce.
Labour leader Jeremy Corbyn has set out plans for a Real Living Wage (RLW) which would replace the National Living Wage (NLW) and would abolish the lower pay rate for under 25s.
According to Politics Home analysis published by Labour shows a full-time worker on the NLW (which is projected to hit £8.75 per hour by 2020) would be £2,500 better off under the RLW plan. A full-time worker under the age of 25 on the lower National Minimum Wage (projected to be £7.75 per hour by 2020) would be £4,500 better off on the RLW rate.
Labour’s analysis also claims that areas outside of London and the South East will benefit most from the £10 rate, with more than a quarter of the workforces in Northern Ireland, the East Midlands and Yorkshire and Humber set for a pay rise.
Read more from Politics Home.