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- UK's Hunt: Will raise minimum wage by 9.7%
UK's Hunt: Will raise minimum wage by 9.7%
UK Finance Minister Jeremy Hunt is presenting the Autumn Budget to parliament.
Key takeaways
"Will cap increase in rents on public housing to maximum 7%."
"Will raise minimum wage by 9.7%."
"Hourly rate of minimum wage will rise to 10.42 sterling."
"Will raise working-age and disability benefits in line with inflation."
"Rise in benefits will cost 11 billion sterling."
"Will increase pension credit by 10.1%."
"Will increase state pension in line with triple lock."
Market reaction
GBPUSD stays under modest bearish pressure and was last seen trading at 1.1830, where it was down 0.65% on a daily basis.
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