The Chartered Institute of Payroll Professionals
News On Line
Growing speculation of government plans to increase National Living Wage 6 October 2021
News outlets are beginning to circulate rumours of an increase in the National Living Wage (NLW) alongside the prime minister’s speech at the Conservative party confer ence.
Speculation points to an increase in NLW to £9.42, this would represent a 5.7% increase on the current rate of £8.91. The LPC consultation, which ended on 18 June 2021, sought to assess the affordability and effects of an increase in April 2022 to an NLW rate of £9.42. The government remit asked the LPC to provide a report in response by the end of October 2021, this has yet to be released.
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Salary boost for new maths, physics, chemistry and computing teachers 6 October 2021
Eligible teachers, in the first five years of their career, will be able to receive an increased salary in order to support recruitment and retention in the areas that need it most.
The £3,000 tax-free boost, announced by Boris Johnson at the Conservative party conference, is backed by £60 million in funding. This is available alongside the starting salary of £30,000 due to start in 2022-23.
Further details on scheme eligibility and implementation are still to come.
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Seven-year low for redundancies as 260,000 people taken off furlough 7 October 2021
HM Treasury has announced that over a quarter of a million workers left the coronavirus Job Retention Scheme (CJRS) in August. During the same month 12,687 notifications for redundancies were received, the lowest level in seven years.
The statistics for August show that 1.3 million workers were on furlough in August, just 5% of the estimated eligible workforce.
With the CJRS ending on the 30 September 2021 growing concern of redundancies will potentially escalate in the coming months, for September however, figures remain stable with under 14,000 notifications being received.
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Boris Johnson advocating for a return to the office 7 October 2021
The Chartered Institute of Payroll Professionals
Payroll: need to know
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