Jeremy Hunt has announced that the National Living Wage will rise to £10.42 from April 2023.
During the Autumn Budget statement on Thursday, the Chancellor accepted the recommendation, increasing the hourly rate by 9.7 per cent from £9.50 per hour.
The increase means that a person working full time on a wage matching the National Living Wage will be £1,600 per year better off on average.
READ MORE: Autumn Statement 2022 - what we know and how it will affect Glaswegians
The raise was expected, with experts believing that the change will benefit around two million workers. This represents a pay rise for 9.4 per cent of the UK's working population.
It comes as the cost of living continues to soar, placing unprecedented pressure on the public finances of many across Glasgow, Scotland and the rest of the UK.
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