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national minimum wage increases

Sky News

•

Business

Business & Economics

Low-paid jobs at risk from Labour's tax increases on businesses

Summary

Nutrition label

81% Informative

National Living Wage ( NLW ) increase is designed to support low-paid workers, but other changes could offset these benefits.

New data shows inflation rose to 3% in January 2025 , the highest level in 10 months .

Labour announced a series of employment rights reforms aimed at improving working conditions.

Labour estimates that employment rights changes will cost businesses around 5bn .

Since the budget, voluntary liquidations have remained consistently high and voluntary business closures have gone up by 9% from December 2024 to January 2025 .

The number of payrolled employees has fallen by more than 10,000 in manufacturing and nearly 9,000 in hospitality since the budget.

HM Treasury said it delivered a once-in-a-parliament budget to wipe the slate clean and deliver stability businesses need to invest and grow.

VR Score

Informative language

Neutral language

Article tone

semi-formal

Language

English

Language complexity

Offensive language

not offensive