Conservative Party (UK) others. Until 1999, Conservatives opposed the creation of a national minimum wage, as they believed it would cost jobs, and businesses would be reluctant to start business in the UK from fear of high labour costs. However the party have since pledged support and in the July 2015 budget, Chancellor George Osborne announced a national living wage of £9/hour, to be introduced by 2020, for those aged 25 and over. The National Minimum Wage in 2012 was £6.19 for over-21 year olds, so the proposed rises in National Living Wage by 2020 will represent a significantly higher pay for many.
National Minimum Wage Act 1998 National Minimum Wage Act 1998 The National Minimum Wage Act 1998 creates a minimum wage across the United Kingdom, which from 1 April 2018 was £7.83 per hour for workers aged over 25, £7.38 per hour for workers aged 21 to 24, and £5.90 per hour for workers aged 18 to 20. (See Current and past rates.) It was a flagship policy of the Labour Party in the UK during their successful 1997 general election campaign and is still pronounced today in Labour Party circulars as an outstanding gain for ‘at least 1.5 million people’. The national minimum wage (NMW)