Minimum wage up to £5.52 an hour

[retailworld]

The national minimum wage is to rise by 17p - about 3% - from £5.35 to £5.52 an hour from October 2007.

The rate for workers aged 18-21 will rise by 15p to £4.60 an hour, while workers aged 16 and 17 will get a 10p rise to £3.40 an hour.

The increases will affect 1.3 million workers and are in line with inflation.

Full Story: http://news.bbc.co.uk/1/hi/business/6425965.stm

[brianJ]

I think it's a good thing . I still think it should be a little higher, but I have no doubt that as the price of most things increases, the wages will have to aswell to match.

[retailworld]

What is the cost to your business though? I'm all for the NMW going up, but as your costs go up, either your margins have to increase or your bottom line will suffer.