On Monday The Treasury announced that the “national living wage” is set to increase from £8.91 to £9.50 an hour as part of the autumn budget. This 59p raise means a full-time worker would see their annual income increase by over £1,000.
These changes will come into force from April 1st 2022. Workers aged 21 and 22 will see the national minimum wage increase from £8.36 an hour to £9.18 an hour, whereas the apprentice rate will go from £4.30 an hour to £4.81 an hour.
Rishi Sunak, the chancellor, said:
“This is a government that is on the side of working people. This wage boost ensures we’re making work pay and keeps us on track to meet our target to end low pay by the end of this parliament.”