Labour’s plan for a £10 minimum wage

In April this year, former Chancellor George Osborne’s proposal that a “living wage” of £7.20 for the over 25s came into force. And that rate will rise to £9 per hour across the UK by 2010.

Labour Shadow Chancellor John McDonnell has said at their national conference in Liverpool that Labour will introduce a minimum wage of at least £10 when it takes power. That would represent something like a £19,250 annual wage for the lowest paid.

McDonnell recognised in his plans that some small businesses would struggle to meet such an expense and pledged help for small firms although there were no firm details of what they might be.

With the way things are going in British politics it would seem that the prospects of a Labour government under Jeremy Corbyn any time soon are fairly remote. But if such a proposal were to come into force, would you be affected?