This is from the Resolution Foundation report you can download below.
From its announcement at the Summer Budget in July 2015, it was clear that the National Living Wage (NLW) would be a transformative policy, significantly raising the legal wage floor for those aged 25 and over. Less clear however was how employers would react. Although the evidence base built up since the introduction of the National Minimum Wage (NMW) in 1999 provided a helpful guide, the initial rate of £7.20 and the planned trajectory to 60 per cent of median earnings of those aged 25 and over represented a step into the unknown for the UK’s wage floor and cautioned against overly simplistic assumptions about past responses being repeated.
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