National Minimum Wage Increases

By Gary Smith

Partner

Yesterday the Chancellor delivered his Autumn Statement in which the government announced that the national living wage (NLW) and national minimum wage (NMW) will increase.  The Low Pay Commission had proposed increases to both the NLW and the NMW rates from 1 April 2023 and the government has accepted those recommendation.

The new rates from 1 April 2023 will be:

•             Age 23 or over (NLW rate): £10.42 (up 9.7% from £9.50).

•             Age 21 to 22: £10.18 (up 10.9% from £9.18).

•             Age 18 to 20: £7.49 (up 9.7% from £6.83).

•             Age 16 to 17: £5.28 (up 9.7% from £4.81).

•             Apprentice rate: £5.28 (up 9.7% from £4.81).

The increases are significant and are designed to help the low paid deal with current high inflation rates and the cost of living.  The NLW increase will amount to over £1,600 for a full time NLW worker.

If you have any queries relating to the national minimum wage increases please do contact our specialist Employment Team on 0345 646 0406 or fill in our online enquiry form and a member of our Team will be in touch.