The Trade Union Congress has called for the minimum wage to be increased to £15 an hour as soon as possible to help millions of low-paid workers struggling amid the cost of living crisis.
The minimum wage is now set at £9.50 for those aged 23 and over, with lower rates for those who are younger.
Frances O’Grady, the general secretary of the TUC, said: “Millions of low-paid workers live wage packet to wage packet, struggling to get by – and they are now being pushed to the brink by eye-watering bills and soaring prices.
“For too long workers have been told that businesses can’t afford to pay them more. But again and again the evidence has shown that firms are still making profits and increasing jobs – we can afford higher wages.”
Matthew Percival, the CBI’s director of skills and inclusion, said: “Business supports a higher wage economy, but the only sustainable path – not only for those earning the minimum wage, but right across the economy – is higher productivity.”