Quote:
Originally Posted by Escapee
The 20% payrise is unlikely to be the end to it, once they see that the tax increases have eroded what they were expecting to have in their pocket, they will be asking for more.
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It's the same with Minimum Wage / Living Wage.
The government tells bosses to pay their lowest paid workers more. That means the bosses pay more in National Insurance and the workers pay more in National Insurance and Income Tax.
Then the bosses increase the cost of their goods or services to pay for the rises.
As it spreads, the Cost Of Living increases, nullifying their pay rises.
"Please Sir, can I have more?"
"Someone in a full-time permanent role working a 40-hour week will earn a gross annual salary of £23,795.20, up from £21,673.60. £424.32 extra IS for the Treasury. From 1st April 2024, the National Minimum Wage for 18-20 year olds will be £8.60, up from £7.49."