Ahead of Jeremy Hunt’s Autumn Statement, it has been announced that minimum wage is set to increase to £11.44 per hour from April 2024. This is good news for full-time workers as it results in an extra £1,800 a year.
Previously, the national living wage has only been for people over the age of 23, but from next year, 21-22-year-olds will receive the increase.
According to the Treasury (the government’s economic and finance ministry), this is the largest increase in the rate to date.
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