The minimum wage in the UK will rise to £11.44 an hour.
The minimum wage in the UK will rise to £11.44 an hour.
The UK’s minimum wage will rise to £11.44 per hour, a substantial increase of about 10% from April, according to Chancellor Jeremy Hunt’s announcement. The national living wage in the UK is set to rise significantly in April of next year, to £11.44 (€13.15) per hour, as stated by Finance Minister Jeremy Hunt. This announcement represents a considerable increase of £1.02 from the existing rate of £10.42, and it comes in response to recommendations made by the Low Pay Commission.
The hike, which the Treasury describes as the biggest cash increase ever, means that people with the lowest incomes will see an annual increase of £1,800. A Briton must be 23 years of age or older to be eligible for the national living wage as of right now. But starting in the following year, the salary will also apply to those who are 21 and 22 years old, which will affect about two million people.
Not only will the national living wage increasing, but there will also be considerable increases to the minimum wage and the lowest acceptable pay for apprentices. Starting in April, the minimum wage for those between the ages of 18 and 20 will increase by £1.11 to at least £8.60 per hour.
Apprentices and those between the ages of 16 and 17 will see a raise in minimum pay to £6.40 per hour, which is a £1.12 increase over the previous year.Chancellor of the Exchequer Jeremy Hunt celebrated the announcement, saying that it “aims to end low pay in the country, fulfilling our manifesto promise and continuing the positive impact the national living wage has had since its introduction in 2016.”
Chief secretary to the Treasury Laura Trott remained silent when asked if the Tories’ performance in polls—which constantly showed them 20% behind the opposition Labour Party—had an impact on government initiatives like tax cuts.The national living wage has been a major factor in changing the pay environment since it was established in 2016. The Treasury claims that they have successfully decreased the percentage of workers receiving low hourly pay from 21.3% in 2010 to 8.9% currently by raising the living wage to two-thirds of average wages.
A representative for the Treasury Department stated: “Supported by increases to the national living wage, the proportion of workers on low hourly pay has more than halved since 2010.Additionally, personal tax thresholds have been doubled, allowing working individuals to earn £1,000 a month tax-free for the first time,said a spokeswoman. “This move reaffirms the government’s commitment to ensuring that work always pays.
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