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CBI calls for wage rises and more free childcare

10/11/2014

The Confederation of British Industry (CBI) believe more free childcare and tax cuts for the low paid are two of many measures that are needed in Britain to raise living standards.

The CBI represents 190,000 businesses in Britain and is having their annual conference in London this week. The UK living standards and Britons place in the European Union (EU) are believed to be the issues that will be covered, as well as the need to boost wages.

Where the CBI had been concentrating on creating new jobs and keeping people employed, they have now said the balance will be shifted to more earnings growth. British workers may be in for a pay rise, as John Cridland, the director-general of the CBI said:

"We are predicting that average rises, which have been just under 1 per cent this year, will be 2 per cent next year and 3 per cent in 2016 – which means that, in the next two years, they will be nicely above levels of inflation."

He has also urged companies who can afford to should “aspire” to pay their staff the living wage.

The business group is also calling for the threshold at which people begin paying National Insurance to rise to £10,500 by 2020-21, a move it says would be worth an extra £363 a year in take-home pay to dual-income households. They have also called for the extension of free childcare currently offered to three and four year olds to also cover one and two year olds, helping more families get back into work if they choose.

The effect of a possible EU referendum if the Conservative government win an overall majority in the next general election on UK businesses will also be discussed.

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