Chancellor George Osborne has warned that "self-defeating" increases to the minimum wage could "cost jobs". Cabinet ministers including Business Secretary Vince Cable and Work and Pensions Secretary Iain Duncan Smith are reportedly pressing for an above-inflation rise of 50p or more. Mr Osborne said he too wanted to see the £6.31 hourly minimum wage rise. But he said it should be left to the Low Pay Commission to set the appropriate level. His comments came during a visit to Enfield, north London, to highlight the forthcoming introduction of the new Employment Allowance, which will allow every business and charity to claim the first £2,000 a year back off their National Insurance bill.....Read more here