Minimum wage increase announced
The UK government has announced that the minimum wage will be increased by more than 10 percent in April 2024.
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In the UK, the Sunak government has announced that it will increase the minimum wage, defined as the “National Living Wage,” by approximately 10%, raising it from 10.42 pounds to 11.44 pounds per hour.
This new adjustment to the minimum wage represents an annual income increase of approximately 1,800 pounds for a full-time employee.
In a press release issued by the Treasury, it was stated that this is the largest cash increase in the National Living Wage in over a decade.
Additionally, the wage for 21-year-old employees will also be raised by 12.4%, from 10.18 pounds to 11.44 pounds per hour.