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 Home > Banking and finance > National Minimum Wage
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The FPB is campaigning to:

  • Minimise the impact that the National Minimum Wage (NMW) has on employers.
  • Push for a fairer system that recognises regional differences – for instance, the minimum wage is worth far less in London than it is in other parts of Britain.
The increases in the National Minimum Wage, from £4.85 to £5.05 in October 2005, and a further rise in 2006 to £5.30, are dangerous for smaller firms. This latest increase means that the NMW has increased by 34.7% in five years. The increase is well above earnings growth and the intervals between increases have been too short to allow for analysis of the impact of each rise. The level and rate of change in the NMW is hampering competitiveness and job creation amongst smaller firms.
 
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