Chamber of Commerce Brands Minimum Wage Decision 'Devastating'
The Isle of Man Chamber of Commerce has expressed concerns over the planned rise in minimum wage, stating it will be 'devastating' for local businesses.
The changes, approved by Tynwald, will increase the hourly rate from £12.25 to £13.46 starting April next year.
The shift will mean businesses will have to face 'really harsh choices'.
According to Chief Executive Rebecca George, the impact will be felt beyond the Island's hospitality and retail sectors.
- The Treasury's point of view is available here.
- Further discussion with the Chamber of Commerce will be featured on Manx Radio's Breakfast programme on Monday morning at 6am.
Author's summary: Minimum wage rise to affect local businesses.
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