National Minimum Wage Increase

This week, the Government announced one of the largest National Minimum Wage increases ever. From April next year, the National Living Wage currently payable to those 23 and over will increase 9.8% from £10.42 per hour to £11.44 per hour. 

From April, the National Living Wage will also apply to 21 and 22 year olds, equating to a 12.4% increase for those workers. 

A full time worker aged 23 will see an increase of £1,800 per year, and someone aged 21-22 would see a £2,300 pay rise. 

The National Minimum Wage for 18-20 year olds will increase from £7.49 per hour to £8.60 per hour, and pay for apprentices will increase from £5.28 to £6.40.

These significant increases come against a backdrop of a cost of living crisis which saw inflation peak at 11.1% - the highest in 40 years - which massively impacted the cost of food and fuel. 

We hope you find this information useful. If you have any enquiries relating to the National Minimum Wage or salaries in general, please get in touch with one of our team today on 01279 758855.