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Living wage... friend or foe?

The budget yesterday announced that the national minimum wage of £6.50ph for over 21s will be replaced by a ‘living wage’ for the over 25s. This will be set at £7.20 from April 2016 and will rise to £9.00 by 2020. Along with the increase in the tax free personal allowance to £11,000 in 2016/17 and £12,500 by 2020, the Treasury est…