U.K.’s New Hourly Minimum Wage Falls Short of Voters’ Hopes
U.K.’s New Hourly Minimum Wage Falls Short of Voters’ Hopes
(Bloomberg) -- The British government’s plan to raise the minimum wage to 9.50 pounds ($13.07) per hour may disappoint many voters, a YouGov Plc poll shared exclusively with Bloomberg News indicates.
The survey, carried out before Monday’s announcement, found that almost half thought a minimum rate of 10 pounds an hour was “about right.” A similar number said the same for 11 pounds, while two-thirds said 9 pounds was too low.
The Low Pay Commission, which advises the government, has the rate only climbing above 10 pounds by 2024 under current projections.
The increase to 9.50 pounds is also lower than the rate demanded by the opposition Labour Party and labor unions, which back a rate of 10 pounds. However, where to set the level has divided the shadow cabinet, with one member quitting last month after failing to get support among the party leadership for 15 pounds.
The pay bump, which takes effect in April, comes just two days before Chancellor of the Exchequer Rishi Sunak delivers his annual budget. A significant increase had been widely expected after Prime Minister Boris Johnson made a transition to a high-wage economy his key message at the Conservative Party conference this month.
©2021 Bloomberg L.P.