Follow on Google News News By Tag Industry News News By Place Country(s) Industry News
Follow on Google News | TUC Minimum Wage Predictions Too HighPAYEpeople, a national payroll bureau, has challenged the TUC on their suggested minimum wage rise to £6.14.
By: Andrew Patterson They publish a report yearly, showing regional minimum wage trends and charting previous and current regional highs and lows rate-wise. While the TUC are advising a national minimum wage figure of £6.14, PAYEpeople predict a figure of £6.04 is more likely.* Allan Pearson, Director of Bureau Services and HR at PAYEpeople, says a higher rise would have significant implications on all businesses, particularly those in Eastern England. “This year, the national average wage has risen by 2.4% since the same time last year. However businesses in the East of England only increased their wage rates by 0.3% on average. Last year the average hourly rate for the East of England was £5.92, and this year it has only risen to £5.94. “If they can only accommodate a comparatively small increase of 0.3% in one year then increasing the national minimum wage to £6.14, an increase of 3.25%, may be to big a stretch for some smaller businesses.” Current Minimum Wage: 21 and over: £5.93 18-20 year olds: £4.92 16-17 year olds: £3.64 From October 2010 (Please note that the age for the higher national minimum wage rate has been lowered from 22 to 21) PAYEpeople is an outsourced payroll services provider with over 25 years experience in providing bespoke payroll solutions to SME’s throughout the UK. PAYEpeople has helped national companies save as much as 20% of their processing costs. Contact PAYEpeople tel: 01942 811767 email: info@payepeople.co.uk web: http://www.payepeople.co.uk *For full details of the TUC press release, please visit: http://www.tuc.org.uk/ # # # EKW Group is recognised as a leading retail accountancy specialist and has been providing bureau and outsourced accounting and associated services to retail branded networks since 1935. End
Account Email Address Disclaimer Report Abuse
|
|