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IRC launches ‘We are open' online directory to promote small shops and business still open

14 May 2020

Open shops and small businesses are urged to add themselves to the new ‘We are open' interactive map
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FCA seeks legal judgement to clarify whether insurers should pay CV-19 claims made by firms

14 May 2020

More than a million businesses forced to close during the coronavirus lockdown may know whether insurers will have to pay previously rejected business interruption claims in a matter of... Read more…

Free ActSmart subscription to help businesses through Covid-19

14 May 2020

ActSmart are offering three months of FREE access to to a range of services and support with the ActSmart bronze subscription in return for a small charitable donation
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250 free-of-charge digital Out of Home campaigns offered to local businesses

13 May 2020

Free Out of Home campaigns will help local entrepreneurs across the UK to highlight how they've adapted to continue trading in the current circumstances.
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Working safely during COVID-19 in shops and branches

13 May 2020

A summary of the specific guidance for shops on working safely
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How consumer behaviour has changed among the British public in the face of COVID-19

10 May 2020

Recent research undertaken by the Institute of Customer Service displays evidence that the British public now place higher value on customer service that they did before COVID-19
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Government will deliver a "tapered" end to furlough scheme

5 May 2020

Chancellor Rishi Sunak has promised there will be no "cliff-edge" cut-off to the government's job retention scheme to support workers through the coronavirus pandemic.
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Coronavirus Testing available for shop workers

30 Apr 2020

The Government has extended COVID-19 testing to essential workers with symptoms and people who live with essential workers and have symptoms. This includes anyone with symptoms whose work cannot... Read more…

Best practice on offering and processing ‘card not present' payments

23 Apr 2020

This guidance is designed to inform retailers about best practice on offering and processing ‘card not present' payments during the Covid-19 outbreak.
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Get ready to make your claim under the Coronavirus Job Retention Scheme today!

20 Apr 2020

As of today employers can make a claim through the Job Retention Scheme if they have put their employees on temporary leave (furlough) because of the coronavirus (COVID-19) outbreak.
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National Living Wage Increases and Future Targets

Posted on in Business News, Cycles News, Political News

The National Living Wage and National Minimum Wage rates increased yesterday, following recommendations made to the Government by the Low Pay Commission (LPC).

This short report accompanies the 2020 increases in the National Living Wage (NLW) and National Minimum Wage (NMW). This year's increase in the NLW, to £8.72, brings the rate to the target of 60 per cent of median earnings, originally set in 2015. The report looks at the effect of the National Living Wage over time on pay and employment over that time period. 

The Government has set a new target for the NLW to reach two-thirds of median earnings by 2024. The report sets out how the LPC will approach its new remit and the higher target. At this stage a projected pathway to the 2024 target has now been set out, given uncertainty about the impact of the ongoing Covid-19 outbreak.

The Low Pay Commission have stated they will consider the impact of the COVID-19 outbreak on the future of the National Living Wage targets, which is set to reach two thirds of median earnings by 2024, by considering two options:

1) Reducing wage rates in a given year, but commit to reach existing targets by 2024

2) Delay the timeframes for meeting the NLW target.

The full The National Minimum Wage in 2020 document is available here.

 

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