Businesses expected to be impacted by April's increase to the hourly rate
The treasury minister is set to give more details on a 'targeted support package' in Tynwald next week (20 January), in light of an upcoming change to minimum wage.
In the House of Keys, Alex Allinson was asked by Onchan MHK Julie Edge if there was any support planned ahead of the rise in April, and how much it was expected to cost.
In response, the minister said the schemes would be developed to assist the hardest-hit businesses, particularly in hospitality and retail.
While the total estimated cost has not yet been finalised, the minister says the support will be time-limited and designed to 'ease the transition' rather than provide an ongoing subsidy.
From April the single hourly rate will increase from £12.25 to £13.46.
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