Wages are expected to climb as a cost-of-living crisis approaches

National Living Wage Set To Rise

November 1, 2024October 31, 2024 Trainingcourses.co.uk

Over 3 million workers are set to benefit from a pay increase as the Chancellor announced that the National Living Wage will rise from £11.44 to £12.21 per hour starting in April 2025.

This 6.7% increase, which equates to an additional £1,400 per year for eligible full-time workers, brings the government closer to its commitment to ensuring the minimum wage reflects a genuine living wage.

Additionally, the National Minimum Wage for 18 to 20-year-olds will see its largest increase to date, rising from £8.60 to £10.00 per hour. This £1.40 boost means that full-time younger workers on the minimum wage will earn an extra £2,500 per year. This change also marks an initial step toward gradually aligning the National Minimum Wage and the National Living Wage into a unified adult wage rate.