The Government has confirmed a pay rise for more than 2.8 million people later this year.
As pledged, the National Living Wage (NLW) will increase by 6.2 per cent from £8.21 to £8.72 for those over the age of 25 from 01 April 2020.
According to the report, almost three million workers are “set to benefit” from increases in the NLW and the National Minimum Wage (NMW).
The planned rates come after consultations with the Low Pay Commission, the independent body that advises the Government on the legal minimum wage.
Commenting on the announcement, the Commission said the commitment to increase the minimum wage falls in line with plans set out in 2015 of raising minimum wages to 60 per cent of median earnings.
“The NLW has been an ambitious long-term intervention in the labour market. The rate has increased faster than inflation, faster than average earnings and faster than most international comparators. This has raised pay for millions without costing jobs, although employers have had to make a variety of other adjustments to deal with the increases,” said Bryan Sanderson, Chair of the Low Pay Commission.
The Chancellor of the Exchequer, Sajid Javid, added: “We want to end low pay and put more money in the pockets of hard-working families. This latest rise will mean that since we introduced the National Living Wage in 2016, the lowest paid will have had a wage increase of more than £3,600.”
National minimum wage rates from April 2020
|Year||25 and over||21 to 24||18 to 20||Under 18||Apprentice|
|April 2019 (current rate)||£8.21||£7.70||£6.15||£4.35||£3.90|
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