Wednesday, 01 April 2020
As of 1 April 2020, the National Living Wage has risen by 6.2%, four times the rate of inflation amid the coronavirus crisis.
The increase, which was announced in December 2019, will leave many employers even more concerned at this already challenging time.
As of today, the new rates are...
25 years and over: £8.72 (up from £8.21)
This rise will result in an annual pay rise of £1,326 for a groom aged over 25 years, based on them working a 50-hour week.
A spokesperson from the Equestrian Employers Association said, “With the recent events surrounding COVID-19 employers are more vulnerable than ever before. The timing of this wage rise is unfortunate for some, but the law and must be adhered too, although we appreciate that this may present a real challenge.
We would advise any employers needing support to discover more about the government grants and funding available to help this through these unprecedented times.”
There has been a lot of debate this week about what might happen if furloughing employees brings their pay under the NMW. The government has simplified matters by stating that furloughed employees can be paid the lower of 80% of salary or £2,500, even if it brings them below the NMW.
To download the Equestrian Employers Association’s Guide to the National Minimum Wage, click here.
Text courtesy of the Equestrian Employers Association.