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Minimum Wage Needs ‘Radical’ Overhaul, says FSB

The National Minimum Wage should be fundamentally reformed, according to the Federation of Small Businesses (FSB) The business organisation’s call has come in response to what it terms the ‘far from ideal’ way in which rates are set, which, it believes, creates uncertainty for small businesses. The Low Pay Commission (LPC) currently advises Government on changes to the minimum wage every year but doesn’t indicate what the rate should be beyond that point. The FSB has said that this, together with the fact that firms receive only six months’ notice before a rate rise, makes it difficult for employers to effectively plan ahead, hampering investment and recruitment. The organisation has therefore proposed that the LPC take a longer term approach and recommend future annual rates, potent... »