Hi everyone,
I've been asked to help with some modelling for the minimum wage increases that take effect from April 2018 but I can't find any websites which confirm the rates. I can find websites which speculate on the amounts but none that agree. This might be a silly question but when will the rates be announced?
Thank you
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Replies
Morning Leanne
No this is a great question, the National Minimum Wage is set by the Chancellor but on advice from the Low Pay Commission and as you say this is not confirmed until April.
There is however another government body thje Office for Budgetary Responsibility which looks at whether the government can deliver its public finances commitments and they have some interesting commentary about what may happen, they look at factors such as economiv growthe and wage inflation.
Also the government made a policy commitment to achieve £9.00 NMW by 2020 so in some respects you can try to work back from that too.
http://budgetresponsibility.org.uk/box/paye-income-tax-and-the-dist...
Hope this helps!
Sarah