The UK government is set to increase the National Living Wage to £12.21 and the National Minimum Wage to £10.00, benefiting over 3 million workers. Announced during the Autumn Budget, this 6.7% increase equates to an extra £1,400 annually for full-time adult workers, with younger workers seeing a £2,500 boost. Officials emphasize that economic growth should translate into tangible benefits for workers, enhancing their spending power and supporting local economies. This adjustment marks a significant shift aimed at aligning wages with living costs and fostering a better standard of living across the nation.
The National Living Wage will increase to 12.21 per hour, while the new National Minimum Wage will be set at 10.00 per hour.
Economic growth only matters if working people are feeling the benefits. This will be a welcome pay bump for millions.
Chancellor Rachel Reeves emphasized the Government's promise for a genuine living wage that will support people with the cost of living.
The increase marks the first time the National Living Wage considers the cost of living and inflation, moving towards a unified wage rate.
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