Chamber of Commerce Brands Minimum Wage Decision 'Devastating'
The Isle of Man Chamber of Commerce has expressed concern over the planned rise in minimum wage, stating it will be 'devastating' for local businesses.
The changes, approved by Tynwald, will increase the hourly rate from £8.25 to £13.46 from April next year.
The shift will mean businesses will have to face 'really harsh choices'
Chief Executive Rebecca George notes that the impact will be felt beyond the Island's hospitality and retail sectors.
- Hourly rate to rise from £8.25 to £13.46
- Changes to take effect from April next year
Author's summary: Minimum wage rise to affect local businesses.
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