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Going rate
"What is the National Minimum Wage? * The National Minimum Wage has been £4.20 since 1 October 2002 (which rose to £4.50 an hour in October 2003). * The National Minimum Wage development rate (which applies to 18 to 21-year-olds, and to people who are 22 or over if they receive accredited training for six months after they start work with an employer) is £3.60 an hour (which rose to £3.80 an hour in October 2003). " http://www.is4profit.com/busadvice/n...mwage/nmw2.htm Just before I started to draw my pensions at 65, I was helping a friend, an accountant, with his Pay Roll duties. I did know what the rate was then, but wondered what the pittance is now. Many thanks. When I had my factories, I paid minimum rate + Bonus. Everyone was happy at that. In 'theory' they could have sat and done nothing all day for basic, but the incentive to get the work out was the bonus. Mike |
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