UK's Hunt: Will raise minimum wage by 9.7%
|UK Finance Minister Jeremy Hunt is presenting the Autumn Budget to parliament.
Key takeaways
"Will cap increase in rents on public housing to maximum 7%."
"Will raise minimum wage by 9.7%."
"Hourly rate of minimum wage will rise to 10.42 sterling."
"Will raise working-age and disability benefits in line with inflation."
"Rise in benefits will cost 11 billion sterling."
"Will increase pension credit by 10.1%."
"Will increase state pension in line with triple lock."
Market reaction
GBPUSD stays under modest bearish pressure and was last seen trading at 1.1830, where it was down 0.65% on a daily basis.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.