The Autumn Statement announced last week by Chancellor Phillip Hammond has seen an increase in the National Living Wage from £7.20 to £7.50 from April 2017 - with the aim of increasing it to £9 an hour by 2020.
Although good for employees, the Organisation for Economic Co-operation and Development warns that the UK should be cautious of the policy, given its possible impact on employment, combined with slow growth forecasts and a weakening economy – the BBC reports.
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