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Economists backed by former Prime Minister Liz Truss call for a freeze and subsequent cut of the minimum wage to make the labor market more competitive. Wages in the UK have been rising faster than prices, with regular pay increasing at an annual rate of 7.7% between July and September. UK Chancellor Jeremy Hunt plans to increase the national living wage to at least 11 per hour from 10.42 per hour, benefiting about 1.7 million people.

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