From 1 April, full-time workers earning the National Living Wage (NLW) will earn more than £600 extra a year, while those on the National Minimum Wage (NMW) will also see an increase in their pay.
The NLW has increased by 4.4 per cent from £7.50 an hour to £7.83. The tax-free personal allowance has also risen from £11,500 to £11,850.
“Over two million people across the UK will get a step up in pay thanks to today’s rise in the NLW and NMW,” said Business minister Andrew Griffiths. “The uplift means a pay rise of over £600 a year for a full time worker on the NLW – that could be two months food shopping or a year’s electricity bills.”
In addition to the above-inflation rise in the NLW, almost 400,000 young workers are expected to benefit from the fastest increases in the NMW in more than 10 years.From 1 April 2018, the rates for:
workers aged 25 and over will be £7.83 per hour workers aged 21 to 24 will be £7.38 per hour workers aged 18 to 20 will be £5.90 per hour workers aged under 18 will be £4.20 per hour apprentices under 19 or in the first year of their apprenticeship will be £3.70 per hour.More detail on the NMW rates can be found here.
