Responding to a letter signed today (Thursday) by a group of senior business leaders calling for the national minimum wage to rise at a faster rate, TUC General Secretary Frances O’Grady said:
“There’s an overwhelming consensus forming that the time is now right for a much bigger increase in the minimum wage. It’s not only workers and their families who need it, getting money back into people’s pockets will give businesses the customers they need for sustained growth.
“We’re calling on everyone who is feeling the squeeze to join our Britain Needs a Pay Rise national march and rally in London next month (18 October). We will be demanding an increase to the minimum wage and a fairer share in the growing economy for workers who have suffered the biggest fall in real wages since the 1920s.”
NOTES TO EDITORS:
- The letter includes the following statement: "Now, as the economy recovers, we believe the minimum wage should rise faster than it has in the recent past. A stronger minimum wage will benefit businesses, improve public finances, and help tackle low pay. The economy is growing again. But we must ensure that all employees are benefiting from the recovery – especially the lowest paid in society who find it hardest to make ends meet."
- Signatories to the letter include Sir George Bain, the former chair of the Low Pay Commission; Alan Buckle, the former deputy chairman of KPMG; Jeremy Bennett, chief executive officer for Europe, Middle East and Africa at Nomura Holdings; Chris Britton, founder and partner at B&B Investment Partners and former chief executive, Findus Group; Sir Ian Cheshire, chief executive, Kingfisher; Iain Ferguson, chairman, Stobart Group; Steve Marshall, executive chairman, Balfour Beatty; Kevin Mcgrath, chairman, M&M Property Asset Management; Robert Stephenson-Padron, managing director, Penrose Care; and Craig Wilson, managing director, Hewlett Packard Enterprise Services, UK.
- More information on the Britain Needs a Pay rise march and rally that will take place in London on 18 October 2014 can be found at: http://britainneedsapayrise.org
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