The minimum wage no longer stretches to cover the basics. Working families are £1600 a year worse off under the Conservative led government and nearly a million people in this country are having to use food banks.
When Labour set up the minimum wage it was to give working people a decent standard of living. But this government have held it down, at the same time as the cost of living has gone up. A Labour government will increase the minimum wage to £8 by the end of the next Parliament. As well as helping families and reducing child poverty, this will also save money that is currently spent on in work benefits.
But it doesn’t stop here, we need to incentivise more employers to pay the living wage. There should be more to life for ordinary working people than working to simply pay the bills.