Labour Party leader, Jeremy Corbyn has pledged a £10 minimum wage if Labour wins the 2020 general election.
Here's a question: With the news that a snap general election shall be held on 8 June 2017, is it possible that Labour might pledge to bring this even closer?
The current national living wage is £7.50 per hour.
Corbyn, in stating that the "Government's rebranding of the minimum wage to the national living wage hasn't dealt with the real problems of low pay and rising cost of living.
Of course, the money has got to come from somewhere. An increase in the NMW will mean a decrease in business profits (having had to spend more on their staff. This could lead to a few things (but ti name 3): redundancies/business reorganisation/deduction in business profits/increase in fees/money for goods or services.
We shall see what the next few months hold for the three main parties in England, and how their pledges and promises shape our vote in the near future...
“The minimum wage needs a serious boost in the coming years, and the TUC believes it should reach £10 an hour as soon as possible. This should be for all workers, instead of the current raw deal that gives young workers a lower rate.