The National Living Wage for people aged 21 or older will rise by 6.7% from £11.44 an hour to £12.21, Rachel Reeves has confirmed in the Budget.
The National Living Wage for people aged 21 or older will rise by 6.7% from £11.44 an hour to £12.21, Rachel Reeves has confirmed in the Budget. The Chancellor also confirmed the National Minimum Wage for people aged between 18 and 20-years old will rise by 16% from £8.60 to £10, as recommended by the Low Pay Commission.Reeves had announced the increases on Tuesday as she revealed they will take effect from April 2025.
The increase in Minimum wage for workers aged between 18 and 20 is part of government efforts to create in the future a single minimum rate for all adults instead of the current tiered system.Their pay bump from £8.60 per hour to a flat £10 means a full-time worker will get an extra £2,500 in a year, the government says.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rachel Reeves warned about hiking National Insurance in BudgetThe Chancellor gave the strongest hint yet that she could hike national insurance contributions for employers in the Budget in what the Tories branded ' Labour 's jobs tax'.
Read more »
Rachel Reeves warned about hiking National Insurance in BudgetThe Chancellor gave the strongest hint yet that she could hike national insurance contributions for employers in the Budget in what the Tories branded ' Labour 's jobs tax'.
Read more »
Rachel Reeves warned about hiking National Insurance in BudgetThe Chancellor gave the strongest hint yet that she could hike national insurance contributions for employers in the Budget in what the Tories branded ' Labour 's jobs tax'.
Read more »
Rachel Reeves poised to raise national insurance for businesses, as Tories claim manifesto breachRachel Reeves hinted at a rise in taxes on businesses on Monday, prompting claims from her Conservative opponents that Labour could break a campaign promise.
Read more »
Hiking national insurance could prove Labour's 'poll tax', business leaders warn Rachel ReevesHiking national insurance will become Labour's 'poll tax', Rachel Reeves has been warned. In the most vehement criticism yet, business leaders reacted with fury as the Treasury refused to rule it out.
Read more »
Hiking national insurance could prove Labour's 'poll tax', business leaders warn Rachel ReevesHiking national insurance will become Labour's 'poll tax', Rachel Reeves has been warned. In the most vehement criticism yet, business leaders reacted with fury as the Treasury refused to rule it out.
Read more »