Hourly pay rates will rise by almost 10% for workers aged 23 and over from April 1
Around 1.7million workers are set to receive a “significant” pay boost when the National Minimum Wage increases from Saturday, April 1. The Resolution Foundation said that the 92pence rise to £10.42 an hour for workers aged 23 and over is equivalent to a near 10 per cent increase.
The foundation said that since its introduction in April 1999, when it was £3.60 for workers aged 22 and over, the minimum wage has transformed hourly pay inequality across Great Britain. But it said inequality has remained high and largely unchanged, saying action on low pay must be complemented by wider drives on employment, taxes, benefits and housing costs if living standards for low and middle-income families are to rise.
Top Money Stories Today The TUC said the minimum wage is going up less than inflation and food prices. General secretary Paul Nowak said: “Everyone who works for a living deserves to earn a decent living, but tomorrow’s below-inflation increase to the minimum wage is not going to lift the pressure on hard-pressed families.
Latest Cost Of Living News The Living Wage Foundation said 12,000 employers already pay the voluntary 'real' living wage of £10.90 an hour and £11.95 in London. A worker earning the statutory rate would need an extra £936 a year to bring their income in line with the voluntary figure, according to its research.
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