Monday, 23 February 2015

Vince Cable announces the Low Pay Commission's recommendations for the National Minimum Wage

Liberal Democrat Business Secretary Vince Cable has today announced that the Low Pay Commission's recommendations to government for the 2015 rates are as follows:

Adult rate - £6.70 
18-20 rate - £5.30
16-17 rate - £3.87
Apprenticeship rate - £2.80

Commenting Vince said:

“Today the Low Pay Commission have made their recommendations to government that the adult national minimum wage should rise by just over 3 per cent to £6.70 an hour from October 2015 .

"This would represent  an annual pay rise of £416 for a full time worker on the minimum wage.

"If this recommendation were accepted, the value of the minimum wage would be higher than when we came to office  in 2010 and we are now making good progress towards restoring the value it lost during the financial crisis.

"I will now study these recommendations and consult my Cabinet colleagues with a view to announcing the final rates in the next few weeks.            

"The Low Pay Commission strike a delicate balance between what is fair for workers and what is affordable for employers, without costing jobs.

"It does so impartially and without political interference. No government has ever rejected the main rates since it was established fifteen years ago.It is important that it is able to continue to do its work ten weeks before a general election.”