London, 13 January, 2016 — Nick Boles MP, Minister of State, Department for Business, Innovation and Skills, attended a reception and talk at the Ismaili Centre in London to discuss the new National Living Wage and why it is good for business and the economy.
Announced last year by the Chancellor of the Exchequer George Osborne, the National Living Wage is a key new policy being introduced by the British Government that is set to take effect from April 2016. It introduces a progressive, compulsory premium over the national minimum hourly wage for all people over the age of 25 and is intended to ensure that low-wage workers can earn a sufficient and decent wage to live on.
“I value this opportunity to meet a diverse group of business leaders at the Ismaili Centre, London and discuss the National Living Wage,” said the Minister of State. “Members of the Ismaili community play an important role in the growth of the economy, employing thousands of people.”
The discussion addressed a number of key aspects relating to the new policy, including its likely impact on businesses at large but also certain specific sectors relevant to members of the United Kingdom Jamat such as care homes, restaurants, hotels and retail, as well as more generally its impact on the UK economy, inflation, unemployment and immigration.
“As a community, we remain committed to debating current affairs which impact society,” said Liakat Hasham, President of the Ismaili Council for the UK. “Whilst the Ismaili business community recognises and supports improved quality of life for workers, we also recognise the need for a trained workforce and look forward to the Government extending training grants to employers in line with the introduction of the living wage.”