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PPI Claim: 'More must be done' to help lowest earners

PPI refunds may help people who are struggling on the national minimum wage.

The hourly rate will rise by 15p to £6.08 for adults on October 1st and the Low Pay Commission (LPC) believes this 2.5 per cent increase will add £230 million to public finances.

Commenting on the increase, TUC general secretary Brendan Barber said the LPC "must be bolder".

These changes will help the people most affected by rising inflation and will give them more cash to spend, but they will not be enough to protect low earners from benefit and service cuts, he added.

All four categories of the minimum wage will be increased with the lowest rate of pay, the apprentice rate, rising from £2.50 to £2.60.

In August the governor of the Bank of England said the prospects of economic growth in the near future were bleak and he expects inflation to further rise in the autumn.

Amir Hussain

Amir specialises in personal loans, consumer debt and debt management.ADNFCR-2776-ID-800744376-ADNFCR

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