In July 2015, George Osborne, the Chancellor of the Exchequer, announced that the Conservative government would be rolling out a ‘national living wage’. This aimed to boost the wage of society’s poorest workers and as women tend to be in low paying jobs, they are set to benefit the most from these wage increases.
Currently the National Minimum Wage dictates the minimum that a worker can be paid. Anyone over the age of 21 should be being paid a minimum of £6.70 an hour, while those aged between 18 and 20, should be being paid £5.30 an hour. There are also minimum wages in place for under-18s and apprenticeships.
However from April 2016, the national living wage will come into affect. For anyone aged 25 and over, they will be legally entitled to £7.20 an hour, a rise of 50p. The minimum wage will still apply for workers aged 24 and under.
At the time of the announcement, Osborne said, “The new National Living Wage is an essential part of building the higher wage, lower welfare, lower tax society that Britain needs and it’s great to see that over a million people will see their living standards boosted when this comes into force on 1st April.”
Despite the planned rises, experts believe that it will only have a ‘modest’ effect on the gender pay gap. On average, women will still receive a smaller cash increase, as a direct result of more women working part-time compare to men.
Read the latest news and articles on the National Living Wage:
Over three million women are set to benefit from the introduction of the ‘national living wage’, according to new research.
In his July budget, George Osborne announced that the Conservative government were rolling out a ‘national living wage’, which aimed to boost the wages of society’s poorest workers.
In the fight for gender equality, the prime minister will today reveal new measures that will force large companies to disclose the gap between the pay of male and female workers.
David Cameron will outline plans that will mean companies with over 250 employees will have to show differences between salaries.
A record number of females are in employment with levels currently at 68.8%, according to figures from the government.
The stats reveal that female employment has risen by nearly 190,000 in the past year and that female economic inactivity has also fallen to a record low.
Research shows that women are less confident than men when it comes to asking for a pay rise. There are lots of articles, and even books, that aim to build your confidence and give you tips on how to get that extra moula you so rightly deserve.
Finding out more and advice:
To find out more about how the national living wage could affect you, visit the government’s website here.