Latest news with #MinimumWage
Malay Mail
a day ago
- Business
- Malay Mail
Minimum wage order at RM1,700 to be enforced nationwide from August 1, no more deferments, says ministry
PUTRAJAYA, July 22 — The 2024 Minimum Wage Order of RM1,700 will come into full effect from August 1, according to the Ministry of Human Resources (Kesuma). In today's statement, Kesuma announced that the order will apply to employers nationwide, regardless of the number of employees hired, following the end of the six-month deferment period on July 31. 'Effective August 1, 2025, without exception, all employers, including those who previously benefited from the deferment period, must comply with the RM1,700 monthly minimum wage order. 'This includes non-citizen employees and contract apprentices, but does not apply to domestic workers,' read the statement. The ministry reminded employers to review their company's wage structure to ensure no employee receives a basic salary below the stipulated minimum rate, and to progressively adjust operations by focusing on productivity enhancement and employee skills training. Kesuma also warned that failure to comply with the order is an offence under the National Wages Consultative Council Act 2011, which carries a fine of up to RM10,000 for each affected employee, with an additional penalty of RM1,000 for each day the offence continues after conviction. For repeat offences, the maximum penalty may reach RM20,000 or imprisonment for up to five years. The ministry also encouraged employers to adopt the voluntary progressive wage policy (PWP) that serves to complement the implementation of the minimum wage order. 'Through the PWP, employers have the opportunity to raise employees' incomes based on productivity, skills, and work contributions, while also benefiting from targeted cash incentives provided by the government. 'This not only helps companies retain highly skilled workers but also strengthens long-term competitiveness in an increasingly challenging labour market,' it added. Complaints regarding the implementation of the Minimum Wage Order can be submitted to the Department of Labour nationwide or via Kesuma's official website. Further information on the minimum wage order and the PWP can be obtained at and respectively. — Bernama
Business News Wales
08-07-2025
- Business
- Business News Wales
Strongest Rise in Welsh New Business Since March 2023
Welsh businesses saw a further rise in output during June, according to the latest Cymru Growth Tracker data from NatWest, but growth in activity slowed despite a sharper upturn in new sales. At 50.5 in June, the headline Wales Business Activity Index – a seasonally adjusted index that measures the month-on-month change in the combined output of the region's manufacturing and service sectors – fell from 51.5 in May, to signal only a slight expansion in output at Welsh private sector firms. Meanwhile, the rate of increase in new orders accelerated to the sharpest in over two years. Despite more favourable demand conditions, firms were less confident in the outlook for output over the coming year and registered another strong fall in employment. On the price front, input costs and output charges increased at softer rates in June. Although still historically elevated, output prices rose at the weakest pace since October 2024. Sebastian Burnside, Chief Economist of NatWest Group, summarised the report's findings for Business News Wales: Jessica Shipman, Chair, NatWest Cymru Regional Board, said: 'Business conditions appear to be improving for Welsh firms, as new order growth accelerated to the fastest in over two years and companies raised their output levels in turn. That said, the rise in activity was only slight. At the same time, previous hikes to the Minimum Wage and National Insurance contributions continued to weigh on business decisions as employment contracted again and confidence in the outlook was dampened amid concerns regarding client spending, and efforts to control costs. 'Inflationary pressures eased further from the recent highs seen in April, meanwhile. In a bid to drive sales, selling prices rose at the weakest rate since last October, as firms noted prioritising competitiveness over protecting their margins. In fact, of the 12 monitored UK nations and areas, only Yorkshire & Humber recorded a slower uptick in charges.' Performance in relation to UK The rate of output growth was slower than the UK average. Anecdotal evidence suggested that stronger demand conditions supported the upturn, however. Private sector firms in Wales signalled a second successive monthly expansion in new orders during June. The pace of growth quickened notably to the steepest in over two years. Moreover, the rise in new sales was the second-fastest of the 12 monitored UK nations and regions (behind the East of England). As well as being below the long-run series average, the level of optimism was the second-weakest of the 12 monitored UK nations and areas, ahead of only the North East. Surveyed firms stated that customer uncertainty and reduced client spending weighed on positive sentiment. A higher cost to employ staff following hikes to the Minimum Wage and National Insurance contributions reportedly led to cost-cutting initiatives and a reduction in headcounts. Of the 12 monitored UK nations and areas, Welsh firms recorded one of the sharpest drops in employment. The pace of job shedding eased, however, to the slowest since last November. Despite a rise in new orders, firms were able to continue working through their backlogs during June. The rate of depletion was among the slowest in over a year, having softened from that seen in May. Nonetheless, the pace of decline was strong overall and quicker than the UK average. Panellists mentioned that greater prices for raw materials and higher transportation fees coincided with the further impact of hikes in wage bills and labour costs on balance sheets. That said, the pace of input price inflation eased to the slowest in 2025 to date and was weaker than the UK average. At the same time, the rate of increase in output charges softened as firms opted to remain competitive and drive new sales rather than protect margins. The pace of inflation was the least marked since October 2024. Moreover, of the 12 monitored UK nations and areas, only Yorkshire & Humber recorded a slower hike in output charges.
Washington Post
30-06-2025
- Business
- Washington Post
New laws in Virginia, Maryland and D.C. range from seat belts to taxes
Adults will have to buckle up in the back seat, students give up cellphones in school and large restaurants must quit packing takeout in polystyrene containers in Virginia come Tuesday, when new laws take effect in the Old Dominion. Just across the Potomac, the District will boost its minimum wage and Maryland will hike an array of taxes and fees, launch a teacher-recruitment program and a suicide hotline, and help unemployed parents who owe child support find jobs.
BBC News
29-05-2025
- Business
- BBC News
NI employers named for not paying staff minimum wage
Twenty-eight businesses in Northern Ireland have been named for failing to pay their employees the minimum wage, according to the Department for Business and Trade (DBT).This comes after a significant uplift to the National Living Wage and National Minimum Wage came into effect in department said 518 employers across the UK have been ordered to repay workers over £7.4 million after nearly 60,000 workers have been left out of includes 28 employers in Northern Ireland. The businesses have since paid back what they owe to their staff and faced financial penalties of up to 200% of their for Employment Rights Justin Madders said: "There is no excuse for employers to undercut their workers, and we will continue to name companies who break the law and don't pay their employees what they are owed.""This will put more money in working people's pockets, helping to boost productivity and ending low pay," he added. What are the National Living Wage and National Minimum Wage? The National Living Wage went up from £11.44 an hour to £12.21. The government said the increase was worth £1,400 a year for an eligible full-time National Living Wage has applied to employees aged 21 and over since April 2024. Previously, you had to be pay rates are set by the government every year on the advice of an independent group, the Low Pay CommissionYounger employees - aged between 16 and 20 - receive the National Minimum 18, 19 and 20-year-olds, it rose from £8.60 an hour to £10 on 1 government said the increase is worth £2,500 for an eligible full-time 16 and 17-year-olds, the National Minimum Wage rose from £6.40 an hour to £7.55, an 18% separate apprentice rate, which applies to eligible people under 19 - or those over 19 in the first year of an apprenticeship increased by the same amount. The NI Businesses from the DBT 1. Property Management Services NI Limited in Belfast - 414 employees owed an average £136 per worker2. Elliot's auto engineering in North Antrim - 1 employee owed over £17,0003. Winemark in North Belfast - 186 employees owed over £844. Benedicts in south Belfast - 391 employees owed £375. Philip Russell Limited in Belfast - 111 employees owed £946. Regency Hotel in Belfast - 201 employees owed £997. Wine Inns Ltd in Belfast - 103 employees owed £908. Building Blocks Day nursery in Mid ulster - 45 employees owed £1239. City Office NI Ltd - 2 employees owed £1,80010. Whistledown Hotel in South Down - 46 employees owed £4611. RJ Ferguson in Mid Ulster - 3 employees owed £67012. CPM Electrical in Fermanagh- 4 employees owed £48413. The Village store in West Tyrone - 1 employee owed £172514. Spice restaurant in Lagan Valley - 3 employees owed £55215. R Loughlin Electrical in west Tyrone - 3 employees owed £51416. Annavale Joinery Works - 4 employees owed £36617. Colemans Garden Centre - 35 employees owed £4118. McAleer and McGarrity in Mid Ulster - 2 employees owed £60319. Trinity Park Nursery - 17 employees owed £6020. Birdies Day nursery - 8 employees owed £10221. The Sooty Olive in Derry - 33 employees owed £2422. Kids Korner nurseries in Belfast - 23 employees owed £3323. Safe Gas NI Ltd - 1 employee owed £63924. Kanto Stranmillis Ltd - 1 employee owed £59025. Happy Children Nursery in Strangford - 12 employees owed £4726. Euro Hand car wash - 7 employees owed £7627. Ardmore Pre-cast concrete Ltd - 1 employee owed £52528. Timberquay Ltd in Derry - 14 employees owed £16
Business News Wales
22-05-2025
- Business
- Business News Wales
'Increasing Costs and Uncertainty' Continue to Drive Corporate Insolvencies
Increasing costs and uncertainty are continuing to drive corporate insolvencies, the Wales Chair of insolvency and restructuring trade body R3 has said. Corporate insolvencies in England and Wales increased by 2.9% in April 2025 to a total of 2,053 compared to March 2025's total of 1,996, and decreased by 5.1% compared to April 2024's total of 2,163. Corporate insolvencies increased by 13.2% from April 2023's total of 1,813. Personal insolvencies in England and Wales increased by 7.9% in April 2025 to a total of 10,012 compared to March 2025's total of 9,282, and increased by 4.4% compared to April 2024's total of 9,586. Personal insolvencies increased by 8.2% compared to April 2023's total of 9,252. Bethan Evans, Wales Chair of R3, the UK's insolvency and restructuring trade body, said: 'April's corporate insolvency figures were the highest we have seen since July 2024. 'Creditors' Voluntary Liquidations remain the process companies most commonly enter into and their consistently high numbers reflect the ongoing challenges, high costs and political and economic uncertainty businesses face. It demonstrates the toll these challenges are taking on business finances and confidence in their ability to turn their situation around. 'Compulsory liquidations have also hit their highest level in more than five years as creditors chase down unpaid debts in an attempt to meet their own payment deadlines. This is led by HMRC as the Government attempts to balance the national books. 'Increasing costs and uncertainty are continuing to drive corporate insolvencies. April saw the introduction of the new rates for Employers' National Insurance Contributions and Minimum Wage, which have increased overheads for businesses at an already challenging time. Many businesses will have already increased prices and cut expenditure to try to maintain margins and cope with the existing economic challenges. SMEs in particular will find it increasingly difficult to respond to further cost increases. 'It is unlikely that we will see the full impact this will have on businesses until later in the year, but the prospect of these changes being introduced has influenced a number of directors' decisions to seek insolvency and restructuring advice and consider the future of their businesses. The recent increase in unemployment indicates that the tax increases, along with the Employment Rights Bill coming into force, has also affected hiring levels as management teams wait to see how it will affect their wage bills, and we expect this to continue until the picture is clearer. 'Alongside this, businesses have faced the impact of the introduction of US tariffs. While some of the outcomes from the President and Prime Minister's recent announcement will be a relief to businesses in a range of sectors, a number of tariff details still need to be confirmed. There is no denying their introduction will make it more expensive to export to America. The uncertainty and unpredictability around US trade policy generally is also likely to affect costs, growth and investment as both business owners and lenders assimilate the impact on revenue and profits. 'Looking across the economy, the sectoral picture is a mixed one. Construction continues to be sensitive to fluctuations in the price of materials, hesitancy of clients in commissioning new work and payment terms, while the care sector is trying to navigate how it will manage the Government's proposals to end overseas recruitment for social care visas. On a more positive note, retailers have benefited from the late Easter and improved weather, which has led to an increase in sales, and hospitality has also seen a rise in activity and spending levels. However, there is no escaping the influence the changes to National Insurance and Minimum Wage could have on business finances with more becoming financially distressed.' Bethan, who is a partner at Menzies LLP, continued: 'Turning to personal insolvencies, April's figures were the highest we have seen for this particular month since April 2020 – although the balance between the processes has shifted significantly since then due to changes in the Debt Relief Order (DRO) debt threshold, the administration fee and in regulations around how Individual Voluntary Arrangements (IVAs) are marketed. Compared to March 2024, personal insolvencies are up significantly, with more people entering IVAs and DROs in an attempt to help manage their debts. 'When these figures are combined with those applying for Breathing Space, they suggest that the debt problem in England and Wales, which has been building over the last couple of months, is starting to be reflected in the number of personal insolvencies. This month in particular, IVA and DRO numbers have increased, and Breathing Space numbers have fallen, which could be seen as a sign that more people need practical help addressing their debts than last month. 'April also saw increases in a range of household bills, and this may have been the final straw for those who were already struggling to make ends meet after years of rising costs. For those who are not in this position, it will have led to them taking a closer look at their outgoings and making adjustments to help balance their household budgets. Wage growth has slowed despite falling inflation which remains above the 2% target, and it is very clear that people's money does not buy what it did six or twelve months ago. 'My message to anyone in Wales who is worried about money is a simple one: seek advice as soon as possible. We know how hard it is to talk about your concerns about your finances, but having that conversation while your worries are new gives you more options to address them and more time to take a decision about your next step. Most R3 members in Wales will give prospective clients a free consultation so they can learn more about their circumstances and outline some of the potential options for addressing them.'
