Workers will see a rise of more than four times the rate of inflation when Government plans are implemented in April this year, increasing hourly pay for those over 25 to £8.72. An increase from the current National Living Wage of £8.21 to £8.72 marks a rise of 6.2% with full time workers receiving an annual pay rise of £930.
Prime Minister Boris Johnson said, “Hard work should always pay, but for too long, people haven’t seen the pay rises they deserve.” with Chancellor Sajid Javid stating, “We want to end low pay and put more money in the pockets of hard-working families,”
Younger workers are also set to see an increase of between 4.6% and 6.5% depending on their age.
Changes to the National Minimum wage across all age groups are set out below;
The National Living Wage (for over 25-year-olds) will increase 6.2% from £8.21 to £8.72.
The National Minimum Wage will rise across all age groups, including:
- A 6.5% increase from £7.70 to £8.20 for 21-24-year-olds
- A 4.9% increase from £6.15 to £6.45 for 18-20-year-olds
- A 4.6% increase from £4.35 to £4.55 for Under-18s
- A 6.4% increase from £3.90 to £4.15 for Apprentices
Sources: bbc.co.uk, 30 December 2019, thesun.co.uk, 30 December 2019, ‘Minimum Wage 2020: Sajid Javid to raise by record 51p to £8.72 in boost for struggling brits.’