New Figures show 2,425 people in Redcar and Cleveland set to gain up to £1,400 a year thanks to Budget Minimum Wage boost

New analysis reveals that an estimated 2,425  workers on the National Minimum Wage in Redcar and Cleveland are set to receive up to an additional £1,400 a year after Labour’s first budget saw the National Living Wage rise to £12.21 an hour. 

Labour introduced the landmark National Minimum Wage in 1998, and this new Labour government is taking a significant step to

wards ensuring the minimum wage becomes a genuine living wage. This is part of Labour's broader mission to grow the economy and make working people better off. 

In addition to the rise in the minimum wage, Labour has: 

·      Ensured working people won’t face higher taxes in their payslip, with no increase in National Insurance, the basic, higher, or additional rates of Income Tax, or VAT. 

·      Announced £240m in additional funding to get Britain working. This will include trailblazers in mayoral combined authorities to join up work, skills and health support and implement the Youth Guarantee. 

·     Committed £22 Billion for Carbon Capture and Storage, the single biggest investment in Teesside ever - creating thousands of good, local jobs and ensuring that Teesside is at the forefront of transforming Britain into a clean energy superpower. 

·      Extended the Household Support Fund for a full year, on top of the six months already announced, with an additional £750m to help struggling families and pensioners in England and £145m for Scotland, Wales and Northern Ireland. 

·      Announced a clear plan to fix the foundations of our economy by restoring stability, increasing investment and reforming the economy to drive up prosperity and living standards across the UK. 

“After 14 years of stagnation and decline under the Tories – and the worst parliament for living standards in British history - Labour is determined to make working people better off. This huge boost to the National Minimum Wage will make full time minimum wage workers in Redcar and Cleveland £1,400 better off a year. That’s a huge step towards our goal of making the minimum wage a real living wage – a fair day’s pay for a hard day’s work. 

“But Labour won’t stop there. The new Labour Government is fixing the foundations of our economy, investing in the infrastructure we need to deliver long-term growth and providing struggling households here in Redcar and Cleveland with an extended Household Support Fund, because we recognise that the cost of living crisis is far from over. 

“Labour is turning the page on the last 14 years of failure under the Conservatives – fixing the NHS, rebuilding our economy and protecting working people.”