The chancellor Jeremy Hunt is expected to confirm in a speech to the Conservative Party that the National Living Wage rate will increase to at least £11 an hour from April 2024.
The national living wage is the minimum amount workers aged 23 and over can be paid by law. This is currently set at £10.42 per hour.
The Low Pay Commission gives advice to the government on the rates for the national minimum wage and national living wage each year. The government makes it's decisions and usually increases the rates based on the advice it received.
According to a BBC news article, Jeremy Hunt is expected to say:
Since we introduced [the national living wage], nearly two million people have been lifted from absolute poverty.
That's the Conservative way of improving the lives of working people. Boosting pay, cutting tax.
We are likely to get the full confirmation in the Autumn Statement in November.
The current minimum wage rates are:
Age | Rate |
|---|---|
23 and over | £10.42 |
21 to 22 | £10.18 |
18 to 20 | £7.49 |
Under 18 | £5.28 |
Apprentice | £5.28 |
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