Autumn Budget 2017: How will HR be affected?

Yesterday marked the announcement of the Autumn Budget from Chancellor Philip Hammond, which set the tone for the coming year. Hammond was under an intense amount of pressure as he presented his statement in the Commons, following uncertain financial outlooks and increased public-sector net borrowing.

So, what did you expect to see from the Budget? We’ve listed the commentary below and reaction below.

Minimum Wage

Hammond announced an increase to the minimum wage, designed to help younger workers. The national living wage paid to employees aged 25 or over will rise from £7.50 to £7.83 next year. Andy Bagnall, Director at KPMG, commented on the increase in national minimum wage and national living wage at the Budget by the Chancellor. He said: “The increase in national minimum wage and national living wage is very welcome news for those on low pay, however businesses can still do more to help those employed earn enough to escape working poverty.