British Prime Minister David Cameron has announced a 20p rise in the minimum wage to £6.70, saying it would benefit more than a million workers in Britain and offer more financial security to workers.
Cameron said: “At the heart of our long-term economic plan for Britain is a simple idea – that those who put in, should get out, that hard work is really rewarded, that the benefits of recovery are truly national.”
The Labour party have said that they would increase the minimum wage to £8 an hour if they won the next election. Labour stated the increase would be implemented over the course of the next parliament.
To put this in context in European terms, the Spanish minimum wage, which is determined on a monthly basis, is only about half the UK minimum wage rate, at €752.90 per month.