National Minimum Wage

About this book

The terms of reference of this report are to monitor the impact and review the levels of the minimum wage and make consequent recommendations for change. The sections of the report are: impact of the national minimum wage; groups of workers and specific enforcement issues; young people and trainees; compliance and enforcement; setting the rates. Amongst the recommendations are: an increase in the rate to [pound]5.05 and that twenty-one year olds should receive the adult rate. Overall there is little evidence that the minimum wage has had any impact on profits, at the macroeconomic level, nor has it significantly affected prices or overall productivity.