The National Minimum Wage (NMW) is set to rise from 1 October 2007 as follows:-
· The main rate for workers 22 aged 22 and over will increase from £5.35 per hour to £5.52 per hour – a handy figure!
· The rate for 18-21 year olds will increase from £4.45 to £4.60 per hour
· The rate for 16-17 year olds will increase from £3.30 to £3.40 per hour
The rare for accommodation offset will increase to £30.10 per week (£4.30 per day).
This rise seems to be relatively modest, given the increase in interest rates this year and the impending increase in statutory holidays.
Employers who refuse to pay the NMW could face a fine of £200 for every underpaid worker following an investigation by HMRC – you have been warned!
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