National Living Wage to increase to £12.21 in April 2025
The government has announced that the National Living Wage (NLW) will increase to £12.21 per hour from April 2025.
This represents an increase of 6.9% from the current rate of £11.45 per hour.
The NLW is the minimum hourly wage that employers must pay to workers aged 23 and over.
The increase will benefit around 2.4 million workers in the UK.
The government said the increase is part of its commitment to “leveling up” the economy and ensuring that everyone has the opportunity to earn a decent wage.
Chancellor of the Exchequer Jeremy Hunt said: “We want to make sure that everyone has a fair chance to get on in life, and that includes earning a decent wage. That’s why we’re increasing the National Living Wage to £12.21 an hour from April 2025. This will give a pay rise to 2.4 million people across the UK, and help to level up the economy.”
The Low Pay Commission (LPC), which makes recommendations to the government on the NLW, said that the increase is “fair and affordable”.
The LPC said that the increase will “help to ensure that low-paid workers can keep up with the rising cost of living”.
However, some businesses have expressed concerns that the increase could lead to job losses.
The British Chambers of Commerce (BCC) said that the increase is “too high” and could “damage the economy”.
BCC Director General Shevaun Haviland said: “The increase in the National Living Wage is too high and could damage the economy. Businesses are already facing significant cost pressures, and this increase will only add to those costs. It could lead to job losses and make it more difficult for businesses to invest and grow.”
However, the government has said that it is confident that the increase will be positive for the economy overall.
The government said that the increase will “boost consumer spending” and “help to create a more level playing field for businesses”.
The government also said that it is providing support to businesses to help them cope with the cost of the increase.
The government said that it will provide a “£1 billion support package” to businesses to help them with the cost of the increase.
The support package will include a “£650 million grant scheme” to help businesses with the cost of training and upskilling their employees.
The government also said that it will provide a “£350 million loan scheme” to help businesses with the cost of investing in new equipment and technology.
National Living Wage to increase to £12.21 in April 2025
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