New budget sees living wage rise - ToyNews

New budget sees living wage rise

Chancellor Philip Hammond has revealed the annual budget, which sees living wage rise from £7.50 to £7.83 an hour.
Author:
Publish date:
Screen Shot 2017-11-22 at 15.51.34.png

Chancellor Philip Hammond has revealed the annual budget which sees living wage rise from £7.50 an hour to £7.83 an hour.

The UK's living wage is still below the 'real' living wage of £8.75, with Labour pledging to raise the living wage to £10.

Meanwhile, the government have outlined a £2.3bn cost to bring forward the change to Consumer Prices Index from Retail Prices Index by two years to 2018.

After next revaluation, future revaluations to take place every three years rather than five.

Elsewhere, a consultation is to be held on the threshold of £85,000 at which small businesses pay VAT. The new budget will also see £200m a year extra from income tax on UK digital sales, in an attempt to level the playing field between online retailers and high street shops.

Go here for a full breakdown of the 2018 budget's key points.

Picture source: The Guardian

Related

EDITOR'S COMMENT: Live forever

Inventor Ray Kurzweil has recently claimed that new technology will soon allow us to live on “indefinitely.” Billy Langsworthy takes a look at how toy and game inventors are achieving immortality through their work.

Featured Jobs

Copyrights Group

Marketing Manager

The Copyrights Group is one of the licensing arms within The Vivendi Group. Acquired by Vivendi in 2016 Copyrights manages the licensing for a portfolio of properties to include Paddington Bear. Some of the other companies within the Vivendi Group include Universal Music Group, and their licensing arm Bravado, Gameloft and Studiocanal to name a few.