Minimum wage to increase

The Government says the national minimum wage will increase by 12p an hour to £6.31 for adults and by 5p to £5.03 for 18-to-20-year-olds.

View all 10 updates ›

Minimum wage rise 'to hit margins' of small business

The increase in the national minimum wage is unwelcome in today's economic climate. We understand the Government must strike a balance between boosting consumer spending and economic growth, however they must ensure the UK's small businesses stay competitive at a time when the economy remains fragile.

There will be businesses that operate on thin margins, who will struggle with any increase to the minimum wage. We therefore urge Government to place renewed impetus into driving down their overheads, such as business rates, energy and fuel costs, and freeing up cash-flow by ending the scourge of late payment by big companies to their suppliers.

– Mike Cherry, Federation of Small Businesses

More top news