The Chancellor of the Exchequer, Jeremy Hunt, announced in his Autumn 2022 budget on 17th November 2022 that minimum wage is set to increase by 9.7%, rising from £9.50 to £10.42 per hour from April 1st 2023 for workers aged 23 years and over.
The Government have listened to the recommendations of the Low Pay Commission (LPC), which was to ensure the National Living Wage continues on track to reach the Government’s target of two-thirds of median earnings by 2024.
The new increases to the National Living Wage/National Minimum Wages are set to support the living standards of low-paid workers.
Bryan Sanderson, Low Pay Commission Chair, said:
“The rates announced today include the largest increase to the NLW since its introduction in 2016 and will provide a much-needed pay increase to millions of low-paid workers across the UK, all of whom will be feeling the effects of a sharply rising cost of living. For a full-time worker, today’s increase means nearly £150 more per month.”
21-22 years will see the highest increase of 10.9%, narrowing the gap by 24p between the National Minimum Wage for 21-22 years and the National Living Wage. The 21-22 year age group is on course to receive the full National Living Wage by 2024.
The new National Minimum Wages rates for April 1st 2023:
| Rate from April 2023 | Increase | ||
|---|---|---|---|
| 23+ Years | £10.42 | 9.7% | |
| 21-22 Years | £10.18 | 10.9% | |
| 18-20 Years | £7.49 | 9.7% | |
| 16-17 Years | £5.28 | 9.7% | |
| Apprentice Rate | £5.28 | 9.7% | |
| Accommodation Offset | £9.10 | 4.6% |
Current National Minimum Wage rates (April 2022)
| 23 and over | 21 to 22 | 18 to 20 | Under 18 | Apprentice | |
|---|---|---|---|---|---|
| £9.50 | £9.18 | £6.83 | £4.81 | £4.81 |
Search our current roles that currently pay above National Minimum Wage
South Yorkshire https://bit.ly/south-yorks-above-nmw
Derbyshire https://bit.ly/derbys-above-nmw
Nottinghamshire https://bit.ly/notts-above-nmw
Staffordshire https://bit.ly/staffs-above-nmw
Leicestershire https://bit.ly/leicestershire-above-nmw
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