Hunt to Boost Minimum Wage and Crack Down on Jobless Benefits

Jeremy Hunt to announce increase to minimum wage of at least £11/hr and crackdown on benefit claimants who refuse to look for work
Aims to 'make work pay' and help working people while targeting 'shirkers'
Plans to cut benefits for up to 100k people who refuse to look for jobs or take work
Comes amid Cabinet spat over Suella Braverman's comments on multiculturalism
Faces pressure from Liz Truss and Tory MPs to cut taxes ahead of Autumn Statement

dailymail.co.uk

Relevant topic timeline:

8/19/2023

Wages rising faster than inflation is good news but can we sustain it?

### Summary Average wages in Britain rose at a rate of 7.8% annually between April and June, outpacing inflation of 6.8% in July. However, the long-term picture shows that workers are still no better off than they were four years ago, indicating the need for sustained pay rises to improve living standards. ### Facts - 💰 Average wages in Britain rose at a rate of 7.8% annually between April and June. - 📉 Inflation in July was 6.8%, lower than the previous month's figure of 7.9%. - ⚠️ The long-term data shows that workers are no better off than they were four years ago. - 🔒 The Bank of England is concerned about wage rises leading to inflation becoming entrenched in the economy. - 📉 The UK's productivity levels have fallen behind its peers since the financial crisis. ### Additional Information - The Bank of England and Chancellor discourage asking for higher wages, fearing a wage-price spiral. - The current UK real average weekly earnings figure is the same as it was in May 2019 and December 2010, and no better than in March 2006. - Sustained pay rises are needed for workers to improve their living standards.

9/12/2023

UK Unemployment Rises While Pay Growth Stays High amid Inflation Concerns

The UK jobless rate rises to 4.3% as unemployment increases, but wage growth surpasses inflation, with total pay rising by 8.5% and regular pay growing by 7.8% in the May-July quarter.

10/2/2023

Hunt to Announce Tougher Benefit Sanctions and Higher Wages Ahead of Financial Statement

Chancellor Jeremy Hunt will emphasize the government's plan to make benefits sanctions stricter and raise the national living wage to over £11 per hour in a speech at the Tory conference, as pressure mounts for tax cuts and welfare changes to reduce spending and boost the economy.

10/17/2023

UK Wages Finally Rise as Inflation Falls, Easing Cost of Living Squeeze

UK regular pay is rising faster than inflation for the first time in almost two years, with real pay (adjusted for inflation) increasing by 0.7% year-on-year in the June-August quarter, bringing relief in the cost of living squeeze.

Topics

Posted 10/1/2023, 11:52:26 PM