Proposals to increase the rates of minimum wage on the island requires further review according to the Minimum Wage Committee.

The independent Committee constitutes of employer and worker representatives, and commenced its review into the rates of minimum wage in the Isle of Man in October 2023.

Following initial consideration of input received, assessment of available data and further deliberation, the Committee proceeded to request the support of both the Department for Enterprise and Treasury to conduct a more detailed impact assessment before recommending changes to the current rates on the island.

The current rates of minimum wage, which came into effect on April 1 2023, sees the single hourly rate for those aged 18 or over at £10.75, while the rate for those aged 16 and 17 is £8.05.

The Department for Enterprise, acting jointly with the Treasury, had intended to determine proposals for increases to the rates of the minimum wage during January following receipt of the recommendations of the Committee.

Seeking Tynwald approval in February and, subject to approval, the Department initially aimed for an implementation date of April 1 2024.

In the absence of a recommendation from the Committee due to its intention to conduct a more detailed impact assessment, there will be a delay in seeking Tynwald approval for revised Minimum Wage rates.

A spokesperson from the Isle of Man Government said: ‘Whilst this clearly will be a disappointment to some, the Committee has a responsibility to consider the social and economic impact of any recommendation in respect of the rates and, as such, its request for additional time to understand the potential impact must be considered.’