The minimum wage acts as a floor on pay, protecting workers while ensuring job creation for the unemployed continues.
The living wage must remain an aspiration that helps some firms pay more, but many companies simply can't afford it. Moving away from a voluntary approach would undoubtedly damage our unemployment rate.
The best way to boost wage growth in the longer term is to build a sustainable recovery and invest in the productivity growth that will boost wages.
More top news
A dry night with clear skies across much of Wales. Temperatures will fall widely below zero, so if you're out and about, wrap up!
An orphaned seal pup has been returned to the wild after a spell in RSPCA rehabilitation.
Dutch-owned Abellio Rail Cymru (ARC) has ended its tender for for the next Wales and Borders rail franchise.