Working Brits all across the country will soon see a rise to their wages.
The government previously announced its plans to raise the National Living Wage and National Minimum Wage this April. It means that a full-time worker on the National Living Wage (applies to anyone aged 23 and over) will roughly receive an extra £150 a month from April 2023.
Younger workers will also see their wages go up this year. Those aged between 16 and 20 will see an increase of 9.7 per cent.
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The government hopes the rates, which were announced last November, will provide further protection to the living standards of those on lower wages. At the time, Bryan Sanderson, Low Pay Commission Chair, said: "The rates announced today include the largest increase to the NLW since its introduction in 2016 and will provide a much-needed pay increase to millions of low-paid workers across the UK, all of whom will be feeling the effects of a sharply rising cost of living.
"For a full-time worker, today’s increase means nearly £150 more per month. The tightness of the labour market and historically high vacancy rates give us confidence that the economy will be able to absorb these increases.
"Businesses also have to navigate these economically uncertain times and by ensuring we remain on the path to achieve our 2024 target, employers will have greater certainty over the forward path. These recommendations have the full support of the business, trade union and academic representatives who make up the Commission."
How much will my wage increase?
Depending on your age and work status, you will receive one of the following increases:
- National Living Wage - Increased to £10.42 (annual increase of 9.7 per cent)
- 21-22-year-old rate - Increased to £10.18 (annual increase of 10.9 per cent)
- 18-20-year-old rate - Increased to £7.49 (annual increase of 9.7 per cent)
- 16-17 year-old rate - Increased to £5.28 (annual increase of 9.7 per cent)
- Apprentice Rate - Increased to £5.28 (annual increase of 9.7 per cent)
- Accomodation Offset - Increased to £9.10 (annual increase of 4.6 per cent)
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