The speculation is over. As you read this, work is beginning to understand what the latest Budget measures mean for our sector.
As there were no direct announcements about museums, heritage, or culture, the headline change for many museums is likely to be the cost impact of rises in the national living wage for over-21s: up from £12.21 to £12.71 per hour, a 4.1% rise. The national minimum wage for those over 18 is also up 8.5% to £10.85 per hour. The Chancellor also announced business rates measures, a consultation on a visitor levy, plans for supporting local growth, and funds for Scotland, Wales, and Northern Ireland.
To help understand more on the latest Budget measures don’t miss our online session Tuesday 2 December where experts from Charity Finance Group unpack the implications for members and the wider cultural sector – sign up at the link below.
AIM Director, Lisa Ollerhead
“Rises in minimum pay levels will rightly be welcomed by many workers, but they are nevertheless a serious pressure in running costs hot on the heels of Spring having seen similar rises come in alongside increases to employer NICs. Museums and the communities they serve across the UK face more hard financial decisions as costs continue to rise alongside the cost of living continuing to affect our visitors.
As we unpack and share the impact of the Budget over the coming days, we and our partners in museums advocacy will continue to present a strong, evidence-based, and unified case in response, to ensure the support we need is understood and the true value of museums is not overlooked.”
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