Hammond plots one of the world's highest minimum wages

The Observer highlights an interesting story - it's believed to be the case that the Chancellor is contemplating a significant rise in the national minimum wage, to the highest level in the developed world.

It is believed that the NMW might be increased to £9.61, 66% of median earnings, but there are concerns that this might cost around 140,000 jobs. That said, it is also argued that this might be an effective way of reducing in-work poverty.