Further minimum wage rise would hit business_2
7 September 2012
More than half of businesses would suffer a loss of jobs and profits if the UK national minimum wage were increased to £7 per hour, according to a survey by the ICAEW.
Of more than 1,000 Chartered Accountants surveyed for the online poll, 55 per cent said they would encounter serious business problems if the UK minimum wage reached £7 per hour.
The minimum wage for adults is currently £4.50 per hour, but will increase to £4.85 an hour from 1 October this year.
The ICAEW survey found that 13 per cent of UK businesses...