The U.K.’s chancellor of the exchequer, Jeremy Hunt, on Monday outlined plans to lift Britain’s minimum wage.
In a speech to the Conservative Party conference in Manchester, Britain’s treasury minister said the country is planning to increase minimum hourly pay to at least £11 from current rates of £10.42.
The Low Pay Commission previously said in November 2022 that the U.K. government should aim to increase Britain’s national minimum wage to hourly rates of between £10.82 and £11.35. An £11 hourly rate would, in turn, place Britain’s minimum wage significantly above the minimum wages offered by major economies including the United States, Japan, and Germany, according to OECD data as of 2022.Italy, the European Union’s third-biggest economy, currently has no minimum wage.
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