George Osborne’s ‘Living Wage’ will soon set wages for 11pc of UK workers
From our UK edition
George Osborne’s Budget plan to raise the minimum wage to £9.35 for over-25s was a surprise – which means it has not yet been much scrutinised. Ed Miliband’s £8 by 2020 pledge was pretty much a non-pledge as inflation would probably have taken the £6.50 minimum wage to £8 by the end of the decade anyway. So it would not be controlling a greater share of the workforce; Miliband's apparent generosity was a trick of inflation. But Osborne goes far further; and this has implications. The chief question, to me, is: what share of the workforce will have their wages set by the government under the proposed National Living Wage (NLW)?