National Living Wage
The National Living Wage (NLW) is one of the key things the government are going to adapt. The NLW is specifically aimed at those aged 25 and over and will be more than the National Minimum Wage (NMW) which will stay in place. The first increase in premium for the NLW will occur in April 2016 and will be around 50p increasing the total to £7.20.
Termination payments: Tax and NICS
There will be further consultation on this matter in the summer regarding simplifying termination payments concerning tax and NICs. Recommendations that were made in 2014 included that the current £30,000 exemption should be replaced with a new income tax relief that is available in case of statutory redundancy.
The government is going to keep an eye on salary sacrifice schemes especially given that their cost to the tax payer is increasing due to their growing popularity.
Mayors and councils are likely to have the ability to extend Sunday trading hours according to their discretion to enable them to have greater say over the economies of their cities.
The government is committed to putting funding for apprenticeships in the hands of employers and aims to start at least 3 million over the next 5 years. The plan is to support all post-16 apprenticeships in England.
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