From 1st April 2023, the National Living Wage and National Minimum Wage will rise by an average of nearly 10% across the board (9.94%), helping to support the lowest paid workers but potentially causing a further burden on the businesses employing them.
Reports from the hospitality sector have shown a significant increase in the number of pubs closing, amidst challenging circumstances. The research data is based on a year-on-year comparison of the number of insolvencies for pub firms and it shows a 180% increase in the last 12 months.
We’re inundated with news about rising prices and the cost of living crisis and yet it would seem the majority remain unaware of some of the opportunities that exist to help reduce the pressure on household budgets. One notable solution being Social Tariffs.
Social tariffs are specific contracts offered by mobile phone and broadband suppliers that have lower fixed term rates. These have been negotiated on mass by the government to provide targeted help.