The Government has accepted the Low Pay Commission’s recommendations for the rates of the National Living Wage (NLW) and the National Minimum Wage which will come into force from April 2024.
The size of the increase in the minimum wage, from £10.42 to £11.44 per hour, will be the largest ever increase in cash terms.
The NLW currently applies to workers aged 23 years and over. However, from April 2024 the age threshold for the NLW will be lowered from 23 years to 21 years.
From 1 April 2024 the increases will be:
- a £1.02, or 9.8 per cent, increase to the NLW for those aged 21 and over (from £10.42 to £11.44 per hour)
- a £1.11, or 14.8 per cent, increase for those aged 18-20 (from £7.49 to £8.60 per hour)
- a £1.12, or 21.2 per cent, increase for those aged 16-17 and apprentices (from £5.28 to £6.40 per hour).
A copy of the press release can be found here: https://www.gov.uk/government/news/largest-ever-cash-increase-to-the-minimum-wage
