National Minimum and Living Wage
Alan Kitto
It has been reported that earlier today, the Low Pay Commission, the body that makes recommendations to the UK Government in regard to both the National Minimum Wage and National Living Wage rates, is likely to recommend an increase in the National Living Wage rate (currently applicable to those aged 23 and above), from £9.50 per hour, to £10.32 per hour in 2023 and then to £10.95 per hour in 2024.
These are increases of 8.6% and 6.1% respectively.
It should also be noted that from April 2024, it is the Government’s intention to lower the age at which the National Living Wage applies from 23 to 21.
The Government normally release the new rates towards the end of October each year and the rates mentioned above are merely recommendations at the current time; actual rates could be higher or lower.
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