`The Chartered Institute of Payroll Professionals
News On Line
The voluntary living wage rates, used by over 11,000 employers, are to be implemented as soon as possible, but by 14 May 2023 at the latest. This should affect over 390,000 living wage workers.
Katherine Chapman, Living Wage Foundation Director, said:
“With living costs rising so rapidly, millions are facing an awful “heat or eat” choice this winter - that’s why a real Living Wage is more vital than ever. Today’s new rates will provide hundreds of thousands of workers and their families with greater security and stability during these incredibly difficult times. “We are facing unprecedented challenges with the cost -of-living crisis, but businesses continue to step up and support workers by signing up to the Living Wage in record numbers. We know that the Living Wage is good for employers as well as workers, that’s why the real Living Wage must continue to be at the heart of solutions to tackle the cost -of-living crisis.”
Back to contents
Bank of England sets base rate at 2.25% Published: 22 September 2022 Emailed: 28 September 2022
The Bank of England (BoE) has once again increased the base interest rate by 0.5%, now up to a 14 year high of 2.25%.
The Monetary Policy Committee (MPC) sets the base rate to keep inflation to target levels of 2%. With CPI inflation currently at 9.9%, the committee has needed to act to assist in reducing this figure.
Of the nine committee members five fived in favour of increasing the base rate by 0.5%, three voted against, instead wanting an increase of 0.75%, and one member favouring an increase of 0.25%.
HM Revenue and Customs (HMRC) late payment interest and repayment interest rates will change with the new rate. Dates these will be effective from are yet to be announced by HMRC.
New digital service to offer support to SMEs managing health and disability in the workplace
Published: 3 October 2022 Emailed: 5 October 2022
The Government has been building and testing a new online service for employers which provides advice and guidance on managing health and disability in the workplace. The service explains your legal obligations and good practice. This may be particularly helpful for smaller businesses without in-house HR support or access to an occupational health service.
We are supporting the development of this service and we'd like your help to test it.
By taking part, you'll receive free information and guidance on disability and health-related employment issues. You could use it to help manage a current case, or simply look around the site to see what's useful and identify improvements.
However, you choose to take part, please take the time to provide feedback. Your views will be vital in supporting the continued development of the service. You can make a real difference, ensuring the new service is user-friendly and meets the needs of your business and your employees.
Go to the test site Support with Employee Health and Disability and make your voice heard.
Back to contents
cipp.org.uk
Page 142 of 238
Made with FlippingBook - Online magazine maker