- The UK government has approved a massive increase in wages for its workers
- UK prime minister, Boris Johnson, approved an increase of the minimum wage of workers by 6.2%
The British government has approved a massive increase in workers' wages going as high as 6.2%.
UK Guardian reports that almost three million workers in Britain are to receive a pay rise of more than four times the rate of inflation from April after the government said it would increase the official minimum wage.
Legit.ng gathered that in an announcement designed to woo low-paid workers in the immediate aftermath of Boris Johnson’s election victory earlier this month, the government said the national living wage for over-25s would increase from £8.21 an hour to £8.72 from the start of April.
According to the report, Johnson said the increase was the “biggest ever cash boost” to the legal pay floor.
“Hard work should always pay, but for too long people haven’t seen the pay rises they deserve. Workers over the age of 25 on the legal minimum wage, rebranded as the "national living wage” four years ago, will receive an annual pay rise of 6.2% from April – more than quadruple the level of the consumer price index (CPI) gauge of inflation, which stood at 1.5% in November.
"The treasury said the increase equated to an increase in gross annual earnings of around £930 for a full-time worker on the current minimum rate," he said.
According to the report, pay rates would also rise above inflation across all other age groups, including by 6.5% for 21-24-year-olds to £8.20, by 4.9% to £6.45 for 18-20-year-olds, by 4.6% to £4.55 for under-18s and 6.4% to £4.15 for apprentices.
It was learnt that average pay packets across Britain remain lower than before the financial crisis, once inflation is taken into account, after one of the worst decades for pay growth since the end of the Napoleonic wars 200 years ago.
"Annual pay growth has accelerated this year, repairing some of the damage by rising at the fastest rate in 11 years. Unemployment has dropped to its lowest level since the mid 1970s and inflation has remained relatively stable in the past year, hovering below the Bank of England’s target rate of 2%, helping hard-pressed families to repair their finances.
"Pay growth has started to fall again in recent months, however, against a backdrop of heightened uncertainty over Brexit and a slowdown in the world economy. Campaigners say work no longer guarantees a way out of poverty, with figures suggesting that about 14.3 million people are struggling to make ends meet, including about 9 million people who live in families where at least one adult is working," the report said.
In Nigeria, state governors are struggling to meet the deadline given to them by the Nigerian Labour Congress (NLC) to implement the N30,000 minimum wage.
Legit.ng previously reported that twenty states of the federation slashed their 2020 budgets despite the agreement on the payment of N30,000 minimum wage in 2020.
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