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Minimum wage to increase next January in boost for thousands of workers

The Government is set to increase the minimum wage by 80c to €11.30 per hour

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The Government is set to increase the minimum wage by 80c to €11.30 per hour.

The Cabinet will sign off on the increase at a meeting tomorrow, and the change will come into effect on January 1.

The Low Pay Commission made the recommendation of the minimum wage being set at €11.30 per hour in a reported submitted to Government earlier this year.

The new rate will be welcomed by thousands of workers in receipt of the current minimum wage of €10.50 per hour.

However, businesses struggling with energy costs will be concerned about the impact of the 80c per hour pay rise for all their staff.

About 10pc of the workforce in Ireland receive the minimum wage.

The minimum wage has increased steadily every year over the past decade - and the announcement is generally made in advance of the Budget.

The Government is also moving towards the introduction of a living wage replacing the minimum with aim of it being €13.70 per hour by 2026.

A report on the living wage aimed to increase have the minimum wage paid at €11.30 in 2023.

The cost of living crisis has put further pressure on the Government to increase the minimum wage as those on lower income are suffering the most due to the cost of living crisis.

The Budget is expected to outline a series of financials supports which workers on the minimum wage will be able to avail of.

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