Small business group warns over effects of wage hike October 1, 2019 The Federation of Small Businesses (FSB) has urged caution on chancellor Sajid Javid’s plans to significantly increase the national minimum wage, saying many of its members would prefer ten years to implement the rise rather than five. Michael Mealing, employment policy chief at the FSB, also warned that for low-pay areas such as care and [...]
Tax cuts, not just increased costs, should be on Chancellor’s agenda September 30, 2019 Sajid Javid acknowledges that he is in no small part a product of the City’s big bang. Faced with closed shops in some of the more traditional banks, this British-Asian outsider worked his way up the chain first in an American bank and then in a German one. Many in the Square Mile reckoned they’d [...]
Business groups urge caution over chancellor’s minimum wage rise plan September 30, 2019 British business groups have urged caution over chancellor Sajid Javid’s pledge to markedly increase the minimum wage while welcoming his confirmation that he will boost spending on infrastructure. Read more: Sajid Javid to increase national living wage to £10.50 In his speech to the Conservative conference in Manchester, Javid announced an increase of the minimum [...]
Sajid Javid promises to increase National Living Wage to £10.50 September 30, 2019 Chancellor Sajid Javid has vowed to hike the National Living Wage to £10.50 within the next five years. Speaking to a busy Tory Party Conference hall, Javid said he would also ensure 21-year-olds can qualify for the National Living Wage. Currently the threshold is set at 25 years old. Read more: Chancellor Sajid Javid sets [...]
Brexit stockpiling dents Card Factory profits September 24, 2019 Card Factory profits fell 14 per cent in the first six months of its financial year amid Brexit stockpiling despite like-for-like sales beating a negative high street. The figures Profit before tax dropped 14.4 per cent year on year to £24.3m for the six months to the end of July as Brexit stockpiling and the [...]
Ignore the doom-and-gloom headlines – people keep getting happier September 16, 2019 The news gives us plenty to worry about these days. From trade wars to political polarisation, the world seems full of risks. It is therefore perhaps surprising that – as far as we can tell – people are getting happier. The Office for National Statistics (ONS) surveys 150,000 people in the UK every year, and [...]
Capita hikes pay for 6,000 employees to real living wage September 12, 2019 Outsourcer Capita will give a pay rise to 6,000 people next year, ranging from administrative staff to call centre workers, City A.M. can reveal. The company will pay all its UK employees a minimum of the real living wage from April, meaning they will get at least £9 per hour. In London, this is significantly [...]
UK wage growth hits 11-year high despite shrinking economy August 13, 2019 Britons’ wages grew faster than at any time since the financial crisis in the three months to June, official figures showed today, despite the UK economy shrinking over the same period. Read more: Into the red: UK economy shrinks for first time in seven years Meanwhile, the number of UK workers without a job rose [...]
Businesses vent fury at handling of Brexit after economy shrinks August 9, 2019 UK business organisations have condemned the continuation of Brexit uncertainty after it helped push the economy into contraction in the second quarter. They called for “decisive action” to turn the situation around. Read more: UK economy shrinks for first time in six years GDP fell by 0.2 per cent in the first quarter, data from [...]
Sadiq Khan urges Boris Johnson to drop £30,000 immigrant salary threshold July 29, 2019 Sadiq Khan has urged the government to drop its proposed £30,000 salary threshold for skilled immigrants, saying it will have a damaging effect on Britain’s post-Brexit economy. The mayor of London urged the new Prime Minister, Boris Johnson, to “fully recognise the positive impact immigration and freedom of movement has had in London and the [...]