9 September 2015

  |  CBI Press Team

Update

Living wage will hit profits and jobs - CBI President

In a wide-ranging interview with the Financial Times, Paul Drechsler says the impact of National Living Wage on business has been underestimated.

 

Ministers have underestimated the “dramatic impact” of the national living wage on companies’ profitability and hiring, and badly timed its introduction, Mr Drechsler told the Financial Times.

On his new role leading the CBI he said: "What we have to do is get the voice of regional businesses and the voice of small businesses heard better.

"Education is where we will make the greatest difference to this economy in the long-term. I'd like us to be looking at the skills agenda, asking how do we work with government to accelerate the progress in that area."

You can read the full article here (£).