Calls for minimum wage to be increased to £15 amid cost-of-living crisis

The Trade Unions Congress (TUC) has called for the minimum wage in the UK to be increased to £15 amid the cost-of-living crisis.

From £9.50 to £15

The minimum wage in the UK is currently set at £9.50 for adults aged 23 and over, with lower rates for younger workers and apprentices.

This is already one of the highest minimum wages in comparison to other advanced economies. It is higher than the US,Canada, and Spain, but lower than Germany, the Netherlands, and Luxembourg, as reported by The Guardian.

In order to put Britain above these countries, the TUC wants the new £15 minimum to be in place by at least 2030, but believes it could be accomplished earlier if the government gets serious about pay growth.

It comes as Labour announced on the weekend plans to take into account the cost-of-living when setting the minimum wage. However, the party did not say how much the minimum wage could increase.

Low-paid workers 'struggling to get by'

Frances O’Grady, the general secretary of the TUC, said:

Millions of low-paid workers live wage packet to wage packet, struggling to get by – and they are now being pushed to the brink by eye-watering bills and soaring prices.

For too long workers have been told that businesses can’t afford to pay them more. But again and again the evidence has shown that firms are still making profits and increasing jobs – we can afford higher wages.

Cost-of-living crisis to worsen

What's more, theenergyprice cap is set to rise on Friday, as reported by The Independent. The energy price cap sets the maximum amount customers on standard tariffs can be charged.

Experts are predicting another massive increase by regulator Ofgem, from £1,971 to possibly as high as £3,600 in the face of soaring global gas prices.

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