National Living Wage
The Chancellor Philip Hammond has announced a 4.4% rise in the National Living Wage, as part of today’s budget.
Calculated according to the basic cost of living in the UK, the National Living Wage is to be increased by 33p from to £7.50 to £7.83 per hour, taking effect in April 2018.
The Chancellor is aiming to get the wage to £9 per hour by 2020.
If you’re an employer, you’ll need to make sure you’re taking action now to ensure that you are paying your staff correctly from April 2018.
To minimise the risk of employee grievances, disputes, employment claims and prosecution by HMRC:
Check you know who is eligible in your organisation and ensure they are aware of their new pay rate.
Review employee’s contracts of employment and related employment policies and procedures
Take the appropriate payroll action.
Obtain support, advice and assistance from your HR and legal advisers; accountants and payroll.
£64 Million Investment in Training Courses
The Chancellor has announced that funds will be allocated towards teaching essential skills, with £34m going towards construction skills and £30m towards digital training.
This comes ahead of the launch of a National Retraining Scheme overseen by the Government, the Confederation of British Industry and the Trades Union Congress in order to help people develop new skills, which will no doubt benefit businesses in developing their workforces.
Should you require advice, assistance or support on any of the announcements coming out of the Autumn Budget, or any other HR and employment law matters contact Farleys Employment Law and HR team on 0845 287 0939 or complete an online enquiry form.