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| Does the minimum wage keep up with the cost of living? | Does the minimum wage keep up with the cost of living? |
| (6 months later) | |
| Vince Cable's announcement of a 12p rise in the minimum wagemaking it £6.31 from October this year will yet again see the pay for lowest earners increase under the rate of inflation. | Vince Cable's announcement of a 12p rise in the minimum wagemaking it £6.31 from October this year will yet again see the pay for lowest earners increase under the rate of inflation. |
| The National Minimum Wage Act 1998 was one of the flagship policies of Tony Blair's newly elected Labour government. From April 1999, every worker over the age of 22 was legally entitled to at least £3.60 an hour. In 2010, it began to apply to employees aged 21 and over*. | The National Minimum Wage Act 1998 was one of the flagship policies of Tony Blair's newly elected Labour government. From April 1999, every worker over the age of 22 was legally entitled to at least £3.60 an hour. In 2010, it began to apply to employees aged 21 and over*. |
| For the first nine years of its existence, the minimum wage increased way above the Consumer Prices Index measure of inflation. The wage also rose above the alternative Retail Prices Index (RPI) every year except between 1999 and 2000. | For the first nine years of its existence, the minimum wage increased way above the Consumer Prices Index measure of inflation. The wage also rose above the alternative Retail Prices Index (RPI) every year except between 1999 and 2000. |
| The biggest increase came between 2000 and 2001 when it rose by 11 percent from £3.70 to £4.10 - almost ten times that year's CPI inflation rate of 1.2 percent. | The biggest increase came between 2000 and 2001 when it rose by 11 percent from £3.70 to £4.10 - almost ten times that year's CPI inflation rate of 1.2 percent. |
| However since 2009 the minimum wage has continued to rise slightly below inflation rates. This year's increase from £6.19 to £6.31, a rise of 1.94 percent coming into force from October, continues that trend. The latest year-on-year CPI increase from February 2013 put the inflation rate at 2.8 percent. | However since 2009 the minimum wage has continued to rise slightly below inflation rates. This year's increase from £6.19 to £6.31, a rise of 1.94 percent coming into force from October, continues that trend. The latest year-on-year CPI increase from February 2013 put the inflation rate at 2.8 percent. |
| *A lower "development rate" of £3 was also rolled out in 1999, applying to employees aged 18 to 21. This changed to workers between 18 and 20 in 2010 and will stand at £5.03 from October this year. | *A lower "development rate" of £3 was also rolled out in 1999, applying to employees aged 18 to 21. This changed to workers between 18 and 20 in 2010 and will stand at £5.03 from October this year. |
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