Increase to the National Living Wage

ALL workers received a pay boost when the National Living Wage was increased on April 1 – those aged 25 and over have been helped out by November’s Budget.

The National Living Wage is the amount of money all employees aged over 25 are legally entitled to. It used to be known as the National Minimum Wage, but it was re-branded in 2016. The National Living Wage increased from £7.50 to £7.83 for those aged 25 and over, the 33 pence-an-hour rise was introduced on Sunday April 1, 2018.

Workers aged 21-24 were paid £7.05 – and it went up to £7.38 from April 1, 2018. The wage increased from £5.60 to £5.90 for 18 to 20-year-olds, and from £4.05 to £4.20 for under 18s, however, apprentices were only entitled to £3.50 if they are under-19 – this increased to £3.70 from April 1, 2018.

The compulsory National Living Wage was introduced in 2016. The first National Minimum Wage was set in 1998 by the Labour government. Before that, no official rate existed although trade unions battled hard to fight their workers’ corner. Mr Hammond is aiming to get the wage to £9 by 2020.

Kellie Denchfield
For and on behalf of
goaccounting

2018-04-17T11:46:34+00:00 April 17th, 2018|Blog|0 Comments

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