Michael is delighted by the announcement that the government is ensuring that low-paid workers who have contributed during this pandemic will get a real-terms pay rise.
The independent Low Pay Commission's recommendations have all been accepted:
- The age threshold for the National Living Wage (NLW) will reduce from age 25 to age 23
- An increase in the NLW, from £8.72 to £8.91
- An increase in the 21-22 National Minimum Wage (NMW) from £8.20 to £8.36, the 18-20 NMW from £6.45 to £6.56, and the 16-17 NMW from £4.55 to £4.62
- An increase in the Apprentice National Minimum Wage, from £4.15 to £4.30
- An increase in the Accommodation Offset, from £8.20 to £8.36
The NLW and NMW rates have increased every year since their introduction, and the new NLW rate of £8.91 will be the highest ever UK minimum wage, with a full-time worker's annual earnings rising by over £345.
You can find out full details here