Source · Select Committees · Treasury Committee
Recommendation 21
21
Paragraph: 136
The rate at which the National Living Wage is set will clearly affect some companies...
Conclusion
The rate at which the National Living Wage is set will clearly affect some companies and sectors which have large numbers of staff at the minimum wage more than it affects others who do not. Some of those firms will be listed on the stock exchange. We therefore believe that the policy may be considered to be inside information as defined by the FCA’s Best Practice Note on the Market Abuse Regulations. In addition, given that the ONS deems retrospective wage data to be market sensitive, we believe it is not unreasonable to conclude that the announcement of the change to the National Living Wage rate might have been market sensitive.
Paragraph Reference:
136
Government Response
Acknowledged
HM Government
Acknowledged
On the announcement of the National Living Wage, I note the Committee’s concern and the government will conduct a review of handling arrangements ahead of future announcements.