Chancellor Jeremy Hunt has announced major increases to UK minimum wage rates applicable from April 2024
In a bid to resolve the difficulties faced by people in low paid jobs, the Government has today announced its acceptance of the Low Pay Commission’s recommendations by confirming a 9.8% increase to the National Living Wage (NLW) for those aged 21 and over. The new hourly rate for those in this age bracket shall increase to £11.44 from April 2024.
The NLW is currently the statutory minimum wage for workers aged 23 and over. Following the changes, the current age threshold will be reduced to those aged 21 and over from April 2024. Younger workers are set to benefit significantly from these changes, although different minimum wage rates will continue to apply to 18–20-year-olds, 16-17 years old and apprentices aged under 19 or in the first year of an apprenticeship.