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National Living Wage rises by 6.7%

29 October 2024
in Business
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National Living Wage rises by 6.7%
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Over three million workers will receive a pay increase next year, with the National Living Wage rising by 6.7% to ÂŁ12.21 an hour in April 2025, benefiting eligible full-time workers by ÂŁ1,400 annually, while the National Minimum Wage for 18-20 year olds will increase by ÂŁ1.40 to ÂŁ10.00 an hour, resulting in a pay boost of ÂŁ2,500. Chancellor Rachel Reeves stated that this move fulfills the government’s commitment to providing a genuine living wage, with plans to eventually align the National Minimum Wage and National Living Wage. Labour has also raised the minimum hourly wage for apprentices by 18%, in line with the recommendations of the Low Pay Commission.

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