The Cost of the National Living WagePosted in : Quarterly Reviews on 18 December 2015
National Minimum Wage (NMW) workers aged 25 and over will, from April 2016, see an increase in their hourly earnings. The National Living Wage (NLW) will be introduced in April 2016, with a starting rate of £7.20. This will be the new legal wage floor for all workers aged 25 and over, with the current NMW becoming in effect the rate applying to 21-24 year olds. The rise from the current NMW of £6.70 to the NLW of £7.20 is a 7.5 per cent nominal increase, the largest since 2004. Thereafter, the NLW is expected to rise steadily, surpassing £9 by April 2020.
Chancellor George Osborne’s announcement regarding the NLW during the Summer Budget in July 2015 sounded like a blessing for the six
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This article is correct at 17/12/2015
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