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Manx cost of living rises - gov't report

Increase of 43p per hour compared to 2019

The cost of living on the Isle of Man has increased over the past year.

That's according to the 2020 Living Wage calculation, undertaken in February, which suggests an hourly rate of £10.19, compared to £9.76 in 2019.

The living wage, unlike minimum wage, is a voluntary pay scale reflecting the cost of 'basic essentials and opportunities which allow a person to participate in society'.

If adopted by an employer it would raise the annual salary of the earner to £20,083 per year.

Minimum wage on the Isle of Man for over 18's is £8.25, or £16,259 per year, marking a difference of £3,824.

The full report can be read here.