He also worries about how much the new national living wage will increase his staffing costs.
However, paying the national living wage will increase costs for businesses.
The minimum wage for over-25s, which George Osborne has rebranded as the national living wage, will increase to £7.20 in 2017 before rising to at least £9 by 2020 under the chancellor's plan.
The chancellor set the ambition that the national living wage will increase to 60% of the typical wage – drawing on one strand of a major report by Sir George Bain, founder of the Low Pay Commission, for the Resolution Foundation.
The UK charity Independent Age found "older men report significantly less social contact with children, family members, and friends than older women". The same charity projected the number of men 65 years and older living alone will increase 65percentt by 2030.
"If we can be the place that harvests many of these opportunities, I think the living standards here will increase".
Natasha Singarayer Chief executive, the Abbeyfield Society The chancellor announced a national living wage that will increase to £7.20, graduating to £9 an hour (Report, 9 July).
Unintended consequences and countervailing forces are everywhere, of course; if I push on a couch to move it across the living room, it will increase the friction of the couch's legs on the floor, and much of the energy I expend will dissipate as heat and as new scratches in the parquet.
To bolster its content and web presence, on July 7th Reliance completed the $665m purchase of Network 18, a broadcaster and e-commerce firm, giving Mr Ambani access to India's living rooms.These investments will increase the group's debt, and they carry risks: the telecoms industry is fiercely competitive, with more than ten operators.
However, the Treasury is understood to have blocked any move to introduce a levy amidst fears it will increase living costs.
