Whither minimum wages?

From ‘The Future Path of Minimum Wages‘ (IFS, 2019), it is worth remembering that The Conservatives have pledged to raise the National Living Wage (NLW) to two-thirds of median hourly wages by 2024 and extend it to 21- to 24-year-olds. This is around 7% higher than expected under current policy for those aged 25 and over and 16% higher for 21- to 24-year-olds.

However, housing costs in the south-east mean that this may not have the impact that it could have.

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