Warning over new minimum wage

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Chancellor George Osborne’s plans to increase the National Minimum Wage to £7 per hour by 2015 have sparked a warning from the Derbyshire and Nottinghamshire Chamber of Commerce.

A spokesman said: “Ministers must remember that as well as their wage bill, businesses face a raft of other costs to employ people, including iniquitous and punitive business rates, national insurance contributions and auto-enrolment pension contributions – not to mention the need to invest heavily to ensure young people are ready for the workplace.”

In contrast, the Trades Union Congress (TUC) has welcomed the move, calling for a ‘decent increase’.