Government Announces Living Wage Increase

The government has today announced that The National Living Wage is rising to £8.72 from April 1 2020.

This means a pay-rise of over £930 per year for full-time workers on the National Living Wage.

As a result, the Government remains on track to meet it’s target for the National Living Wage to reach 60% of median earnings by 2020.

Prime Minister Boris Johnson told TBG - “Hard work should always pay.”

“For too long, people haven’t seen the pay rises they deserve.”

“Our government will put a stop to that, giving nearly three million people from Edinburgh to Eastbourne a well-earned pay rise, including the biggest ever cash boost to the National Living Wage.”

“But that’s not all. As we enter a new decade, we’re setting our sights higher, to help people earn more over the next five years and level up access to opportunity across our great country.”

Chancellor of the Exchequer, Sajid Javid, said “This latest rise will mean that since we introduced the National Living Wage in 2016, the lowest paid will have had a wage increase of more than £3,600.”

“But we want to do more to level up and tackle the cost of living, which is why the NLW will increase further to £10.50 by 2024 on current forecasts.”

Business and Energy Secretary, Andrea Leadsom, said “We want to make the UK the best place in the world to work and grow a business.”

“Employment is at a record high and as well as investing to meet that ambition, we also want to make sure that people get to keep more of what they earn.”

“Our people’s pay rise and we want to make the UK the first country in the world to eliminate low pay in the next five years.”

“The Government has fully accepted the Low Pay Commission’s recommendations. In September the Chancellor pledged to increase the NLW towards a new target which, on current forecasts, would make it around £10.50 per hour.”

“The introduction of the NLW has already delivered the fastest pay rise for the lowest earners in 20 years, putting more cash into the pockets of those who need it the most. Supported by the NLW, the lowest paid saw their wages grow by 8% above inflation between April 2015 and April 2018.“