Minimum wage rise; blessing or curse

Low-income workers will benefit from a minimum wage increase up to £5.93 per hour from October this year.

However an industry expert warns that this could put other peoples' jobs at risk as employers struggle to recover financially from the recession.

Adam Marshall from the Chambers of Commerce, told the Telegraph that "It is astounding that the government would increase the minimum wage by 2.2 per cent at a time when private sector wages are virtually flat, and companies across the country are still making tough choices to keep as many people in employment as possible."

With many people's jobs continuing to be claimed by the credit crunch, more people are becoming reliant on low-income jobs just to keep their head above water.

If you've been affected in this way, a debt solution such as a Debt Management Plan (DMP) could be beneficial.

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