DfE reacts to suggested rate increase
A recommended rise in the Island's Minimum Wage is being considered by government.
Although it's only an 'interim' recommendation it could see the rate increase from £10.75 to £11.45 later this year.
As reported earlier this week that would put the Island's rate at 1p ahead of the UK's which came into force this week.
The Department for Enterprise says, alongside Treasury, it has considered the interim recommendations from the Minimum Wage Committee and will now progress final proposals for Council of Ministers approval ahead of bringing them forward to Tynwald at the May sitting.
It adds it will publicly announce the final proposed rates ahead of them being placed on the Register of Business.
Enterprise Minister Tim Johnston said: "I am grateful to the Minimum Wage Committee for considering proposals for an interim increase to the rates of Minimum Wage pending completion of the additional impact assessment and their final deliberations.
"Government remains committed to the Minimum Wage reaching parity with the Living Wage as set out in the Island Plan but recognise the need to consider the broader impact on businesses, particularly small businesses, in our domestic economy."
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