An increase in the minimum wage is not yet a done deal in Britain, with an independent panel that plays a critical role in the process expected to weigh in next month. But analysts say it's overwhelmingly likely now that all the major parties have lined up in favor. In Osborne's comments this month, he suggested that he wants to see the wage rise to seven pounds by next year, or about a 10 percent hike. Experts say such a significant increase could have a big impact on the labor market in Britain - and not just for the 1.4 million workers who earn the minimum. Millions more workers could also see their wages rise as employers seek to keep pace with a rising pay floor.

''That would be a very large increase at a time when average incomes aren't going up much at all'', said Alan Manning, a professor at the London School of Economics who studies the minimum wage. ''It really would be a leap into the unknown.''

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