Stat of the day: 900,000

The number of people who will get a pay rise when the minimum wage goes up this weekend.

Last Updated: 09 Oct 2013
Nearly 900,000 workers will get a pay rise when the minimum wage breaks through the £6-an-hour barrier this weekend. For people over 21, the rate will rise by 15p to £6.08 on Saturday. And women will be the main beneficiaries, inching the pay gap between men and women closer together (although there’s still a long way to go.) 

The TUC predicts that the pay boost will inject £230m into the economy because of higher tax rates and national insurance rates and lower benefits bills. But businesses aren’t overjoyed by the prospect. When the rise was announced in April this year, the British Chambers of Commerce blasted it, pointing out that private sector wages were virtually frozen and that companies across the country were already making sacrifices to keep as many people in employment as possible. 

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