National Living Wage rises

From today, the National Living and Minimum Wages are increasing.

Finance

 

The National Living Wage – the lowest rate employers can pay – is rising by 4.9% today for over 25 year olds with the rate for under 25s on the National Minimum Wage rising by between 3.6% and 4.3%.

The rate for apprentices will go up by 5.4%. The announcement marks the 20th anniversary of the introduction of the minimum wage.

The changes mean over 25s will get  £8.21 an hour. Those aged 21 to 24 will get  £7.70 per hour and 18 to 20 year olds will receive £6.15 an hour.

The charity the Living Wage Foundation says the wage level needed to “meet the costs of living” in the UK is £9 an hour across the UK and £10.55 an hour in London.  Others point out that the cost of certain services and utilities is set to rise by more than inflation. The TUC wants all workers over 21 to receive the same as those aged 25 and over and for the minimum wage to be raised to £10 a hour.

The Government also anticipating a review it has commissioned from Professor Arindrajit Dube into the international evidence of minimum wages on productivity and employment. On 6th April employment law changes mean all workers, including casual and zero-hour workers, will have the right to receive a payslip and the maximum employment tribunal fines for employers will quadruple from £5,000 to £20,000.



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