LONDON: Britain’s Conservative government raised the minimum wage by 7.5 per cent on Friday in a move denounced by critics as largely symbolic in an era of state austerity. Around 1.8 million employees will benefit from the National Living Wage (NLW). Workers aged 25 and over will now earn a minimum hourly gross wage of £7.20 ($10.36, 9.10 euros) compared with £6.70 previously. “The NLW will play a central role in moving Britain to a higher wage, lower tax, lower welfare economy,” said British Finance Minister George Osborne. The new increased amount compares with an 8.50 euro minimum wage rate in Germany and almost 9.70 euros in France.