The UK government is reportedly ready to raise the minimum wage as part of its much-lauded “leveling agenda”.
Boris Johnson told attendees at this week’s Conservative Party conference in Manchester that he wanted to move the country towards an economic model based on high pay, high skills and high productivity.
There is now strong speculation that next spring an increase in the minimum wage will follow in order to top up the wage packages of the lowest.
READ MORE: What is the National Minimum Wage in London? The wage rates that must be respected across the UK
What is the UK minimum wage?
The National Living Wage – the minimum wage for anyone aged 23 and over – is currently £ 8.91 an hour.
For 21-22 year olds, it’s 8.36 pounds per hour and 6.56 pounds for 18-20 year olds. For those under 18, the minimum wage is € 4.62 per hour.
Apprentices are entitled to a minimum wage of € 4.30 per hour.
Who sets the UK minimum wage?
Minimum wage rates are set by the UK government but are advised by the Low Pay Commission, an independent agency.
How much will the minimum wage be increased?
According to reports, the government is expected to raise the national living wage to £ 9.42 an hour – a 5% increase.
With inflation expected to stay above trend in 2022, an increase in the minimum wage will be necessary to protect the lowest paid from the impact.
When does the minimum wage rise?
The minimum wage increases on April 1st. So if the reports are correct, low wage earners can expect their new higher rate.
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