FinancialAdvice.co.uk Logo

Qualified advisers answering your
Financial Questions
call 0800 092 1245

Pay rise for apprentices planned

06/10/2014

Vince Cable will today announce plans to raise the apprentice minimum wage by £1.06. The Lib Dem Business Secretary is due to announce the rise at the Liberal Democrats annual conference in Glasgow later, and the move is known to be backed by the Conservatives. If cleared by regulators, it could come into effect by October this year.
According to the government’s website, apprentices at the moment are entitled to a minimum wage of £2.68 per hour if they are aged 16 to 18 or aged over 19 and are in their first year. The new plans will raise the minimum hourly rate to £3.79. The current minimum wage for under 18’s is £3.79, for 18-20 year olds it is £5.13 and for anyone 21 and over it is £6.50.
The Liberal Democrats have also launched an attack on the Conservative over their proposed benefits freeze in their conference, and have backed calls for a review of Universal Credit; reform of the Hardship Fund; changes to the Work Programme; an easing of benefit sanctions and more support for claimants.
Mr Cable said it was "completely unnecessary that low income people will be punished, that the working poor should be punished, to give tax relief to people at the top end of the income scale".

Need financial advice


If you have any personal finance questions related to this news article, then please contact our financial advisers. You can get in touch by asking a question online, calling us on 0800 092 1245, or by arranging a visit.


Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:



Latest News

Blogs

Helpful new tax year facts that could affect you and your money


Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.


Read more

Useful Links

Popular Searches

Please Enter More Details

 
Enter More Details
Continue