Business
Will Minimum Wage Rise Impact Your Business?
An interim rise to £11.45 an hour has been recommended by the Minimum Wage Committee taking the island’s rate to 1p above the UK’s for those aged over 21
The Chamber of Commerce is asking members what impact an increase in the minimum wage would have on them.
An interim rise to £11.45 an hour has been recommended by the Minimum Wage Committee taking the island’s rate to 1p above the UK’s rate for those aged over 21.
That interim increase is being used as a backstop while the committee and its consultants are exploring future rises and what impact the stated will of Tynwald that the minimum wage increase to align with the living wage nex year.
Ahead of the fuller recommendation, Pragmatix Advisory has been hired to conduct this survey. It says: ‘We are interested in the nature of your organisation and the potential implications of increasing the minimum wage.’
Chamber has said: ‘This is your opportunity to contribute to a significant study that will inform Government on the direction they should be taking. It is independent and confidential.
‘We would like to see as many local businesses complete this research as possible, thus ensuring there is credible sample size for robust conclusions.’
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