The national minimum wage will increase by 19p an hour to £6.50, the government has announced.
The new rates will be implemented in October and will benefit a million workers.
Business Secretary Vince Cable said he had accepted a recommendation from the Low Pay Commission that the minimum wage should increase by 3%.
So when Osbourne said he wanted a "above inflation" increase to the minimum wage what he actually meant was a 0.1% above inflation increase.
And while the Low Pay Commission recommended that the minimum wage should increase by 3% it has only increased by 2% for 18-21 year olds, 16-17 year olds and apprentices.
What’s worse is that the minimum wage is still far below the living wage - which is set by the Living Wage Foundation - and is calculated according to the basic cost of living in the UK. The living wage in London is currently £8.80 and £7.65 for the rest of the country.
Even with the supposed 3% increase that’s still a £1.15 deficit for most people (even more if you live in London). Considering that the living wage is based on what “households need in order to have a minimum acceptable standard of living” it’s pretty sickening that we’re still leaving people with such a massive hole to fill in their balances.
In 2010, an FBI report drawing on figures from the consultancy Corelogic put total fraudulent mortgages during the peak boom year of 2006 at more than $25 billion. Twenty-five billion dollars is obviously not nothing. But here again, teasing those mortgages out of that year’s crisis-related write-downs of $2.7 trillion from U.S.-originated assets leaves our infamous “cagey” borrowers to blame for only a tiny share of the damage, especially since not all of the fraudulent mortgages were their fault. The ratio looks roughly something like this:
Maybe a few people tricked their banks, but look at the massive leveraged write-downs that banks incurred. They lost all those trillions on risky investments created by their own industry. Not John Q. Public.
In a surprisingly combative statement on the Senate floor on Tuesday, Feinstein, who has been widely criticised by privacy experts for failing to hold the NSA to account, accused the CIA of conducting potentially unconstitutional and criminal searches on computers used by her staff…
In a statement to NBC News, Snowden said: “It’s clear the CIA was trying to play ‘keep away’ with documents relevant to an investigation by their overseers in Congress, and that’s a serious constitutional concern.”
Snowden, who is in Russia on temporary asylum, added: “But it’s equally if not more concerning that we’re seeing another ‘Merkel effect,’ where an elected official does not care at all that the rights of millions of ordinary citizens are violated by our spies, but suddenly it’s a scandal when a politician finds out the same thing happens to them.”
thank god the cia fucked up enough to get the senate to actually care about them