Pay

• What is the purpose of legislation in business?

  To regulate businesses' behavior
• What does the government aim to achieve with the National Minimum Wage Act (1998)?

  To increase the incomes of the low paid
• What are the two significant laws regarding worker pay?

  National Minimum Wage Act and Equality Act
• What is the national minimum wage for people aged 16 to 24 called?

  National minimum wage
• What is the national living wage for people aged 23 or over?

  National living wage
• What does the Equality Act (2010) prohibit regarding pay?

  Paying different rates for similar jobs
• If a male and female employee are doing the same job, what does the Equality Act (2010) require?

  They must be paid the same rate
• What are the key components of the National Minimum Wage Act (1998)?

  • Requires minimum hourly rate for all workers
  • No exemptions for small employers
  • Rates set annually by the government
  • Different rates for age categories
• What are the implications of the Equality Act (2010) for businesses?

  • Illegal to pay different rates for similar jobs
  • Ensures equal pay for male and female employees
  • Promotes fairness in the workplace