The Chancellor has today announced in the Autumn Statement that the National Living Wage will increase from £7.20 to £7.50 in April next year.
"That’s a pay rise worth over £500 a year to a full-time worker," he says. This year the National Living Wage replaced the minimum wage for workers aged 25 and over. For the under 25s there are small increases in the National Minimum Wage as follows:
- Aged 21-24 an increase from £6.95 to £7.05.
- Aged 18-20 an increase from £5.55 to £5.60
- The rate for 16 and 17yr olds will increase from £4.00 to £4.05
There is a slightly higher percentage increase in the apprenticeship rate, (which EEF called for), it will rise from £3.40 to £3.50.
For further coverage of the Autumn Statement please see our special edition Westminster Weekly and our most recent blogs.