The Department of Enterprise and Treasury have revised the Minimum Wage proposals originally set out last month.
The new proposals will see Tynwald asked to approve a single initial increase to the main rate of the Minimum Wage to £12.25 from April 1, 2025.
Both the Department and Treasury have taken the decision to defer commitment for the originally proposed second increase to £13.05 in October.
Instead it will prioritise a review into the current methodology of agreeing proposals in respect of the Minimum Wage and its link with the Living Wage, with the aim to report on findings to Tynwald in July 2025.
Minimum Wage
The proposals will see the island’s single hourly rate increase from £11.45 to £12.25 per hour from April 1, 2025.
The youth rate, for those over compulsory school leaving age but not yet 18, will increase from £8.75 to £9.55 from April 1, 2025.
The single proposed increase will be brought forward to Tynwald at the February 2025 sitting and, subject to approval, will be effective from April 1, 2025.
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