{"id":514,"date":"2014-03-14T11:36:51","date_gmt":"2014-03-14T11:36:51","guid":{"rendered":"http:\/\/www.tayloremmet.co.uk\/blogsite\/?p=514"},"modified":"2014-03-14T11:36:51","modified_gmt":"2014-03-14T11:36:51","slug":"national-minimum-wage-increases-announced-first-real-terms-increase-since-2008","status":"publish","type":"post","link":"https:\/\/www.tayloremmet.co.uk\/blogs\/national-minimum-wage-increases-announced-first-real-terms-increase-since-2008\/","title":{"rendered":"National Minimum Wage increases announced: First real terms increase since 2008"},"content":{"rendered":"<p><a href=\"https:\/\/www.tayloremmet.co.uk\/blogs\/wp-content\/uploads\/2016\/09\/TE.jpg\"><img fetchpriority=\"high\" decoding=\"async\" class=\"alignleft size-medium wp-image-1295\" src=\"https:\/\/www.tayloremmet.co.uk\/blogsite\/wp-content\/uploads\/2016\/09\/TE-300x300.jpg\" alt=\"\" width=\"300\" height=\"300\" srcset=\"https:\/\/www.tayloremmet.co.uk\/blogs\/wp-content\/uploads\/2016\/09\/TE-300x300.jpg 300w, https:\/\/www.tayloremmet.co.uk\/blogs\/wp-content\/uploads\/2016\/09\/TE-150x150.jpg 150w, https:\/\/www.tayloremmet.co.uk\/blogs\/wp-content\/uploads\/2016\/09\/TE.jpg 400w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a>In a further sign that the Government believes that the economy is in full blown recovery, the first real terms increase to the National Minimum Wage for a number of years has been announced (previous rises were largely in line with inflation).\u00a0As a result, the adult NMW rate will rise to \u00a36.50 per hour from 1 October this year. The Government states that, as a result\u00a0more than one million people will see their pay rise by as much as \u00a3355 a year.<\/p>\n<p>From 1 October 2014 there will be:<\/p>\n<ul>\n<li>a 19p, or 3 per cent increase, in the adult rate (from \u00a36.31 to \u00a36.50 per hour)<\/li>\n<li>a 10p, or 2 per cent increase, in the rate for 18-20 year olds (from \u00a35.03 to \u00a35.13 per hour)<\/li>\n<li>a 7p, or 2 per cent increase, in the rate for 16-17 year olds (from \u00a33.72 to \u00a33.79 per hour), and<\/li>\n<li>a 5p, or 2 per cent increase, in the rate for apprentices (from \u00a32.68 to \u00a32.73 per hour).<\/li>\n<\/ul>\n<p>For these purposes and adult is anyone aged 21 or older.<\/p>\n<p>This could be the first of a number of higher than inflation annual increases as the\u00a0Low Pay Commission who recommend any changes to the NMW have stated that it aims to recommend progressive real increases in the value of the NMW\u00a0provided that economic circumstances continue to improve.<\/p>\n<p>It is a measure of\u00a0increased economic confidence that\u00a0these increases have been broadly welcomed by both business and union leaders.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a further sign that the Government believes that the economy is in full blown recovery, the first real terms increase to the National Minimum Wage for a number of years has been announced (previous rises were largely in line with inflation).\u00a0As a result, the adult NMW rate will rise [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1295,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[79,15],"tags":[6,7,18,104,13],"class_list":["post-514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-advance","category-news","tag-plib","tag-employment-law","tag-hr","tag-national-minimum-wage","tag-trade-unions"],"yoast_head":"<!-- This site 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