Living wage report to be presented to Tynwald
The introduction of a living wage on the Isle of Man could be a step closer when Tynwald sits this month.
Policy and Reform Minister Chris Thomas will ask the Island's parliament to receive a report on the Manx Living Wage.
The report calculates the living wage for Manx residents to be £8.61 per hour, which is £1.11 higher than the minimum wage for those aged 25 and over, and 16p than the living wage for UK residents outside London.
It's estimated employers would have to pay over £2,000 per year more if they switched from the minimum wage to a living wage, but the Government believes it could result in fewer benefit payments, as well as an increase in tax and national insurance receipts.
The Economic Affairs Division is planning to recalculate the living wage each July, as well as finding a way to give accreditation to employers who offer the increased wage.
A living wage is designed to ensure an adult worker can afford the cost of housing, utility bills and food, as well as other essential items.