The National Living Wage was established to ensure fair compensation for workers aged 23 and over. As of now, the National Living Wage stands at £10.42 per hour and is set to rise to over £11 per hour, a development anticipated by over 2 million low-paid workers.
For workers aged 23 and over, the National Living Wage serves as the statutory minimum wage. It’s a reflection of the government’s commitment to establishing a baseline compensation that allows individuals to meet their basic needs and maintain a decent standard of living.
We’re expecting more comprehensive details about the National Living Wage increase to be released soon in the Autumn Budget. This critical information will shed light on the specifics of the adjustment, giving both employers and employees a clearer understanding of what to expect.
Stay tuned. Our blog will discuss any further updates.
