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<p>The Government wants to build an economy that works for everyone, where low wage
workers are fairly rewarded for their contribution to the UK economy.</p><p>We believe
that it is essential for employers to ensure that their reward packages are competitive,
in order to retain and develop the workers who are fundamental to their success. However,
it is ultimately for employers to decide how they manage increases in their wage bill.
The Government will hence continue to set a minimum hourly wage, and remuneration
above that rate is a contractual matter for the employer and worker.</p><p>The Government
has committed to ensuring a competitive business environment. The Government’s increase
in the Employment Allowance, and reduction in employers’ National Insurance contributions,
is estimated to benefit up to 500,000 businesses and charities, and the government’s
cuts to the main rate of corporation tax will benefit over a million companies, allowing
them to increase the pay of their workers.</p>
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