Exact date millions in UK will get pay rise with £12.10 change - and it's very soon
UK workers can look forward to a significant pay boost as the National Living Wage is set to increase its hourly rate. The timeline for this change has been clarified and is expected soon.
The Low Pay Commission (LPC), the government's advisory body on minimum wages, has revealed it is set to raise the mandatory rate to £12.10 per hour. The National Living Wage, which is for those aged 21 and over, is currently at £11.44 per hour, reports the Express.
In response to inflation and heightened living costs, the minimum wage undergoes an annual uplift. This April saw a notable jump by 10 percent from £10.42, continuing a trend of increases typically outpacing inflation.
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Labour's Deputy Prime Minister Angela Rayner has pledged to "raise the floor on wages," proposing more ambitious increases. Following Labour's election win, Ms Rayner and Business Secretary Jonathan Reynolds tasked the LPC with recommending a rise that accounts for living costs and ensures the national living wage remains above two-thirds of the median income.
According to the LPC, a substantial hike of about 5.8 per cent is necessary to match earnings growth well above their March projection of 3.9 per cent. This positions the National Living Wage for a potential climb from £11.44 to £12.10 per hour come April 2025.
The Low Pay Commission (LPC) has now set a "floor" at two-thirds of median earnings in its recommendations, stating this figure could increase if 2024's earning growth outstrips expectations. Officials usually reveal the exact rise in the National Living Wage during the government's Autumn Statement, expected on Wednesday, October 30.
A Department for Business and Trade (DBT) representative told The Sun: "We are changing the rules to put more money in working people's pockets. But we have also been clear we need to consider the businesses who pay these wages, employment prospects and the impact on the wider economy, which is what we instructed the Low Pay Commission to do."
They added: "We believe a hard day's work deserves a fair day's pay and that's exactly what our Make Work Pay plans will do, working in conjunction with business."
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