Millions of people will receive a pay rise from this weekend as new minimum and national living wage rates come into force.
The increases take effect on April 1, with the National Living Wage for those aged 23 and older, rising from £9.50 to £10.42 per hour.
The National Minimum Wage for people aged 21 to 22 will also increase, going up by £1 to £10.18.
For those aged 18 to 20 it will increase to £7.49 from £6.83, while those under 18 and on apprentice contracts will see the minimum wage rise from £4.81 to £5.28.
Chancellor Jeremy Hunt originally announced the increases in his Autumn Statement last November.
Jeremy Hunt told the Commons: “I am accepting the recommendation of the Low Pay Commission to increase it next year by 9.7 per cent.
“That means, from April 2023, the hourly rate will be £10.42 which represents an annual pay rise worth over £1,600 to a full time worker.
“It is expected to benefit over two million of the lowest paid workers in the country and keeps us on track for our target to reach two-thirds of median earnings by 2024.
“And it is the largest cash increase in the UK’s national living wage ever.”
These are the new minimum wage rates from Saturday, April 1:
- National Living Wage (aged 23 and over) - £10.42
- National Minimum Wage for people aged 21 to 22 - £10.18
- National Minimum Wage for people aged 18 to 20 - £7.49
- National Minimum Wage for under 18s and apprentices - £5.28
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