Minimum Wage/Living Wage

Part of Oral Answers to Questions — Business, Innovation and Skills – in the House of Commons at 9:30 am on 8th January 2015.

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Photo of Vincent Cable Vincent Cable The Secretary of State for Business, Innovation and Skills 9:30 am, 8th January 2015

On our return to Business questions after the break, may I wish you, Mr Speaker, and all Members a happy new year? I am sure that the thoughts of everybody in the House this morning are with France and, in particular, with the relatives and friends of those who were killed and injured in the appalling terrorist atrocity yesterday.

Last year, the Government announced the first above inflation increase in the national minimum wage since the 2008 banking crisis, benefiting more than 1 million workers. Since 1 October 2014, full-time minimum wage workers have seen an annual cash increase of £355 in their pay packets, and we expect real-terms increases to continue as the economy recovers. We support employers paying the living wage where it is affordable and not at the expense of jobs.