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.
Minimum wage in the United States the report, approximately 100,000 jobs would be lost under the $9.00 option, whereas 500,000 jobs would be lost under the $10.10 option (with a wide range of possible outcomes). The Center for Economic and Policy Research (CEPR) in contrast in 2013 found in a review of multiple studies since 2000 that there was "little or no employment response to modest increases in the minimum wage." CEPR found in a later study that job creation within the United States is faster within states that raised their minimum wage. In 2014 the state with the highest minimum wage in the nation, Washington,