The minimum wage in the United Kingdom should increase to £15 per hour “immediately,” according to the Trades Union Congress (TUC).
It was stated that this rate should apply to workers of all ages, as opposed to the present reduced rate for those under 23.
The minimum wage is £9.50 per hour for those aged 23 and older and £9.18 per hour for those aged 21 and 22. Workers aged 18 to 20 receive an hourly wage of £6.83.
The current rate of inflation is 10.1%, diminishing the purchasing power of the minimum wage.
Due to greater food, gasoline, and energy expenses, prices are increasing at the quickest rate in forty years.
TUC general secretary Frances O’Grady stated: “Each worker ought to be able to afford a reasonable level of living.
“However, millions of low-wage workers live paycheck to paycheck, barely scraping by, and they are now being pushed to the edge by eye-popping expenses and skyrocketing prices.”
The TUC says that in a time when corporations are delivering increased profits to shareholders, the government should ensure that employees receive “their fair share” by increasing the minimum wage now, rather than waiting until April for the next anticipated increase.
Ms. O’Grady stated, “The administration has repeatedly assured us that we will have a high-wage economy.
“It should begin with low-income workers who are “very scared of what those increases in energy bills will imply for their finances, needing to pay for school uniforms and food.” “She stated.
She stated that a greater minimum wage would reduce the likelihood of workers claiming in-work benefits and increase their likelihood of paying taxes and shopping on the High Street.
She noted that there was no reason for paying younger workers lower wages.
Ms. O’Grady stated, “It seems obvious to me, and I believe too many others, that people should be paid the rate for the job, regardless of their age.”
Why should they be discriminated against because they are under the age of 23 if they work just as hard at the same job?
However, Matthew Percival, director of skills and inclusion at the CBI, which represents employers, stated that there should be no new minimum wage target and that any increase in its rate should be based on economic development and increased productivity.
“Companies are increasing pay where they can, but rising energy costs are pushing others to the edge of insolvency. High energy prices necessitate immediate government action to assist individuals and businesses, rather than relying just on the minimum wage “he stated.
The minimum wage is determined according to the median wage, which is established by averaging all pay packets in the United Kingdom and locating the midpoint. The current minimum wage objective is to attain 66% of median wages by 2024. The TUC thinks that all workers’ hourly salaries should average £20 and that the minimum wage should be set at 75% of that amount.
