The British Finance Minister announced that the minimum wage in the United Kingdom would be raised to $13.4 per hour, which amounts to £11 (GBP) pounds sterling.
According to what was revealed by many international news agencies, the speech to be delivered by British Finance Minister Jeremy Hunt will contain guarantees that work in Britain will provide adequate compensation.
He added that this decision was aimed at improving the lives of workers by the Conservative Party in the United Kingdom.
Increasing the minimum wage in Britain
It is worth noting that the current minimum wage in Britain is about 1.42 pounds sterling per hour, and it is scheduled to increase wages and reduce low wages in the country.
About one million people in the United Kingdom are scheduled to benefit from this increase, according to what the British government announced.
The date for increasing the minimum wage in Britain
This decision is scheduled to be officially implemented starting in April 2024, after the end of the legislative elections scheduled to be held in January 2024.
The program announced by the Minister of Finance also includes the launch of a social assistance system to encourage the unemployed in Britain to return to the labor market again in the United Kingdom.
Difficulty finding labor in Britain
It is worth noting that British companies have recently faced difficulty in finding labor, as about 100,000 people leave the labor market annually in Britain.
The unemployed in the United Kingdom are living on social assistance, as British Finance Minister Jeremy Hunt explained that these people who are not even looking for a job do not deserve social assistance.
Raising the minimum wage in the United Kingdom in two stages
The minimum wage in the United Kingdom is scheduled to be raised in two stages based on recent amendments. The minimum wage is scheduled to be raised within a few months, after which it will rise again completely during the year.
It is worth noting that the annual net number of immigrants to the United Kingdom has reached a record high of 745 thousand compared to the previous year.
Nigeria, India and China represent the largest proportion of immigrants in the United Kingdom compared to immigrants from European Union countries.