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Monday, November 25, 2024

Exact date millions of Brits will get pay rise and see more money going into their bank - LADbible

One of the first things the new government, if we can still call it new, did upon getting into office was ask the Low Pay Commission (LPC) to be more ambitious when working out how much the minimum wage should rise.

The LPC is an independent body which advises the government how much it should put up wages, so it doesn't get the final decision.

What is the government doing about the national minimum wage?

The new bunch in charge has said it wants to introduce a 'genuine' living wage and chancellor Rachel Reeves said that too many Brits were 'not earning enough'.

In a press release, Business and Trade Secretary Jonathan Reynolds said: "For too long working people have faced the worst of the cost-of-living crisis, but this Government is taking bold action to address it and make work pay.

"The new remit to the LPC is the first of many vital steps we will take to support more people to stay in work and improve living standards.

"Our focus remains on putting more money in working people's pockets and boosting economic growth."

That's all well and good but there comes a time when they have to put their money where their mouth is, or rather put more money in your pocket.

How much will the UK minimum wage go up by?

How much the national living wage will increase will likely be revealed in the government's autumn statement, which is pencilled in for 30 October.

That's when you'll hear about the amount the minimum wage will increase, but the actual value won't change for a while...



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