The Government has been considering the Low Pay Commission’s recommendations on minimum wage rates.
They were widely reported to be considering a range of between £10.90 – £11.43 an hour, as well as looking at the age range the National Minimum Wage related to.
Yesterday (21st November), they announced new rates that will apply from 1st April 2024. And, they represent a big increase; in fact, the largest increase in cash terms that there has ever been. They are particularly large for those workers who are 21 or 22 years old, as the top rate now includes them, rather than starting at the previous age of 23.
So, the new rates are:
- 21 and over – £11.44, up from £10.42
- 18 – 20 – £8.60, up from £7.49
- 16 to 17 and apprentices – £6.40, up from £5.28
There will be plenty more news to report from the Autumn Statement today, but this announcement will allow employers to start budgeting for next year.
The guidance provided in this article is just that – guidance. Before taking any action, make sure that you know what you are doing, or call an expert for specific advice.
