Money Wellness
Image of 'minimum wage' written on a piece of paper in black with a red arrow pointing upwards as if to suggest it's going up
category iconcost of living
calendar icon21 Nov 2023

Record wage boost for millions

The government has announced the biggest ever increase to the National Living Wage and National Minimum Wage ahead of the chancellor’s Autumn Statement tomorrow.

From next April, workers on the National Living Wage will get more than a pound extra an hour with the pay threshold rising from £10.42 per hour to £11.44 – the largest increase in more than a decade.

Those under 21 years of age will also receive a boost to their pay, with a rise of £1.11 per hour to £8.60, which equates to an extra £1,800 a year for a full-time worker.

Apprentices and working teenagers between the age of 16-17 will see the greatest rise to their salaries, with their hourly pay increasing by 21.1% to £6.40.

Chancellor Jeremy Hunt said: “Next April all full-time workers on the National Living Wage will get a pay rise of over £1,800-a-year. This will end low pay in this country, delivering on our manifesto promise.

“The National Living Wage has helped halve the number of people on low pay since 2010, making sure work always pays.”

The increases are part of the government’s drive to get millions of people off benefits and back to work under new welfare reforms. These include people no longer being ‘written off’ as unable to work due to disability or mental illness from 2005, with them set to lose up to £4,680 in support if they fail to find a housebound job.

Rishi Sunak has said that around two million people of working age are not working at all and that it is a national scandal and an enormous waste of human potential.

Avatar of Caroline Chell

Caroline Chell

Caroline has worked in financial communications for more than 10 years, writing content on subjects such as pensions, mortgages, loans and credit cards, as well as stockbroking and investment advice.

Related posts

cost of living

07 Dec 2023

TV licence fee to rise next year

The TV licence will increase by £10.50 from next April. find out what it means for you

cost of living

05 Dec 2023

Help for families who can’t afford Christmas presents for the kids

Millions of households will struggle to afford Christmas presents this year. Here's a list of the charities and organisations who help make sure every child wakes up to a gift from Santa

cost of living

05 Dec 2023

Households buying less veg because of cost of living pressures

Low-income families can’t afford to buy fresh vegetables due to huge price increases. Find out how to get cheap or free fruit and veg

cost of living

05 Dec 2023

Inflation-linked TV licence fee increase could be blocked

£15 increase to the TV licence fee may be reduced due to cost-of-living squeeze

Average Customer Rating:
Independent Service Rating based on 4013 verified reviews. Read all reviews