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Monday, November 25, 2024

Millions to get pay rise thanks to new salary band rate under Labour - Birmingham Live

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Millions in the UK will get a pay rise thanks to the 12.10 National Living Wage. The National Living Wage, currently 11.44 per hour, applies to individuals aged 21 and over - and is set to be hiked from next year in a major boost for workers.

The government's advisory body on minimum wages, the Low Pay Commission (LPC), has declared its intention to increase the statutory amount to 12.10 per hour. The rate rose 10% from 10.42 in April of this year, and in previous years it has generally increased faster than inflation.

Labour Party Deputy Prime Minister Angela Rayner promised to "raise the floor on wages," but Labour wants to go further. The LPC has responded by stating that, to match earnings growth, salaries would need to increase by roughly 5.8%, which is a substantial increase from their estimate of 3.9% from March.

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This indicates that starting on April 1, 2025, the National Living Wage is projected to increase from 11.44 to 12.10 per hour. A spokesperson for the Department for Business and Trade (DBT) told The Sun: “We are changing the rules to put more money in working people’s pockets. But we have also been clear we need to consider the businesses who pay these wages, employment prospects and the...



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