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George Osborne backs minimum wage rise to £7 per hour
The minimum wage could rise to £7 an hour by 2015, Chancellor George Osborne has told the BBC. Osborne said the "economy can now afford" an above-inflation rise.
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PM: Minimum wage rise will 'help hardworking people'
David Cameron said previous cuts to the economy means the government can now afford to increase the minimum wage and help "hardworking people."
The Prime Minister said: "Our long-term economic plan is securing Britain's future and helping hardworking people.
Posting on social networks, he said: "Because of the difficult decisions we've taken to fix the economy, we believe we can now afford to increase the minimum wage - putting more money in people's pockets and helping them provide for their families.
"We are doing all we can to make hardworking families financially secure - cutting income tax for 25 million people, freezing fuel duty and keeping mortgage rates low."
Surprise turnaround as Osborne backs minimum wage rise
The Chancellor has said he is in favour of a rise in the minimum wage above the rate of inflation in an apparent turnaround.
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Duncan Smith backs 'bold move' on minimum wage
Work and Pensions Secretary Iain Duncan Smith has welcomed George Osborne's "bold move" of backing an increase in the minimum wage.
"It shows that at the heart of all our reforms this Government is concerned to improve the quality of life for the poorest in society," he said.
"The commitment to a higher national minimum wage is all part of ensuring that the economic recovery delivers for people who want to work hard and play by the rules."
Cable: Low Pay Commission must set minimum wage
Business Secretary Vince Cable told ITV News the Low Pay Commission must set the minimum wage and "politicians of all parties have got to respect that" after Chancellor George Osborne backed an increase.
ITV News Deputy Political Editor Chris Ship has tweeted:
Osborne spins on minimum wage as general election looms
Chancellor George Osborne has said that the country can afford an above-inflation increase in the national minimum wage ahead of elections.
Read the full story ›Labour: George Osborne 'flailing around under pressure'
Labour’s Shadow Chief Secretary to the Treasury Chris Leslie said Chancellor George Osborne was "flailing around under pressure" but had made "no concrete announcement" on a minimum wage rise.
Earlier, Mr Osborne said Britain can afford a minimum wage increase and backed a rise to £7 per hour.
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CBI: 'Unaffordable minimum wage rise would cost jobs'
The Confederation of British Industry and British Chamber of Commerce have reacted to George Osborne's comments on a possible minimum wage rise.
ITV News Business Editor Laura Kuenssberg has tweeted:
Osborne: Britain can enjoy fruits of all that hard work
Chancellor George Osborne said Britain can afford an increase in the minimum wage and "start to enjoy the fruits of all that hard work", in an interview with the BBC.
He indicated that he was ready to contemplate a rise in the £6.31-an-hour minimum wage to £7.
Osborne: Britain can afford a real rise in minimum wage
Chancellor George Osborne has tweeted:
Osborne's words on minimum wage 'mean nothing'
ITV News Deputy Political Editor Chris Ship has tweeted:
Latest ITV News reports
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Surprise turnaround as Osborne backs minimum wage rise
The Chancellor has said he is in favour of a rise in the minimum wage above the rate of inflation in an apparent turnaround.
-
Osborne spins on minimum wage as general election looms
Chancellor George Osborne has said that the country can afford an above-inflation increase in the national minimum wage ahead of elections.