Business Regulation

AAT backs chancellor on minimum wage increase

The Association of Accounting Technicians (AAT) has backed the Chancellor’s plans to increase the national minimum wage to £10.50.

Javid made the pledge at the Tory Party Conference yesterday (30 September) and added that he will also lower the age threshold for those who qualify from 25 to 21.

The professional body said the National Minimum Wage legislation affects many of AAT’s 140,000 members, including students, apprentices, small business owners, licensed accountants or where they are employed by national and multinational companies.

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It added that in 2017 its Minimum Wage Survey found that 70% of its members wanted the government to scrap the existing minimum wage structure and replace it with the Living Wage Foundation minimum pay levels, currently £10.55 in London and £9.00 in the rest of the UK.

Phil Hall, AAT head of public affairs and public policy, said: “The announcement is not quite as much as our members have indicated they would like to see but it’s not far off and is certainly a big step in the right direction.

“We appreciate that many businesses are facing pressures and that employees are too – finding a balance is key to ensuring everyone gets a fair day’s pay for a fair day’s work.”

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