3.4.3 National Living Wage Flashcards by anila breznica

Q

What is the national living wage?

A

for those 21 and over
help with the cost of living
legal requirement
set to increase at £12.21 in April 2025

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Q

Advantages of the national living wage?

A

increase incentive to work
poverty reduction
equality justification
training
increase labour participation rates

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Q

Disadvantages of the national living wage

A

adds to the costs of employment
small business can struggle meeting NLW
reduction in demand

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Q

Evaluation for the NLW

A

doesn’t take into account to people living in london
living wage rate

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