Freeze minimum wage – BCC - Economy - News | moneyfacts.co.uk

News

Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Freeze minimum wage – BCC

Freeze minimum wage – BCC

Category: Economy

Updated: 20/04/2009
First Published: 20/04/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

The Chancellor has been asked to freeze the minimum wage in a bid to help the private sector lead UK industry out of the recession.

The call comes from the British Chambers of Commerce (BCC), which has warned that this week's Budget must focus on giving the private sector the freedom and flexibility needed to bring about an upturn in the UK's financial fortunes.

Confidence amongst businesses and consumers must be restored, says the group, which has proposed an extensive package of measures to aid cash flow.

It includes: a freeze in the national minimum wage; the reintroduction of empty property rate relief; a reduction in the rate of small companies' corporation tax; and a reversal in the planned increase in National Insurance contributions from 2011 onwards.

It has also proposed that short time working be encouraged as opposed to widespread job losses.

"The Chancellor's Budget is an opportunity for the Government to prove its commitment to British businesses during this recession," said David Frost, director general of the BCC.

"It will be business that drives the economy forward, creating jobs and wealth. Their importance to the country cannot be ignored."

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
 
Close