A 59p rise in the hourly minimum wage has been dismissed as “underwhelming” ahead of Wednesday’s budget. Tory chancellor Rishi Sunak has confirmed that the so-called National Living Wage is to increase from £8.91 an hour to £9.50 next year for those aged over 23.
The 59p hourly boost will mean a full-time worker on the living wage will get a pay rise of more than £1,000 per year. The 6.6 per cent hike is more than twice the current consumer price inflation rate of 3.1 per cent but many employers are already paying more than the minimum rate as they face staff shortages.
For those aged 21 and 22, the minimum wage will rise from £8.36 an hour to £9.18, while the figure for apprentices will go from £4.30 to £4.81 per hour.Rishi Sunak used the
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