National Living Wage increase in Spring Statement

The National Living Wage will rise to £7.38 per hour from 1 April 2018, adding up to a pay rise of over £2,000 for a full-time worker since 2015, announced Chancellor Philip Hammond in the Spring Statement.

Chancellor Philip Hammond

Employment in the country is forecast to grow over the next five years – to have over 500,000 more people with a job in 2022, said Mr Hammond.

“We are the party of small business and the champion of the entrepreneur,” he stressed in his speech.

Business rates are being reduced by over 10 billion, he said, and £80 million of funding will be released to support small businesses to engage with apprentices. There will be a crackdown on late payment.

The government will embrace technological change, he said, with funding for faster broadband and 5G test beds.

The UK economy grew 1.7 per cent in 2018, and has grown annually since 2010, he said, and the UK’s borrowings are set to reduce.

The Chancellor announced a detailed spending review in 2019.

The Spring Statement was a missed opportunity to address funding issues for the NHS, said Niall Dickson of the NHS Confederation. "The twin tasks facing the Chancellor therefore remain – support NHS and the care services to help them deal with intolerable pressures today, and lay out a comprehensive plan to create a sustainable NHS and social care system for the next 10 to 15 years," he said. 

Recommended

Boots paper switch

No conclusive evidence of hub and spoke benefits in pharmacy




This website is for healthcare professionals, people who work in pharmacy and pharmacy students. By clicking into any content, you confirm this describes you and that you agree to Pharmacy Magazine's Terms of Use and Privacy Policy.

We use essential, performance, functional and advertising cookies to give you a better web experience. Find out how to manage these cookies here. We also use Interest Based Advertising Cookies to display relevant advertisements on this and other websites based on your viewing behaviour. By clicking "Accept" you agree to the use of these Cookies and our Cookie Policy.