Minimum wage to rise to £12.21 an hour next year

Quick Summary:

The National Living Wage will rise by 77p from £11.44 per hour for workers over the age of 21.

Rachel Reeves said the pay boost marked a "significant step" towards achieving Labour’s promise of a "genuine living wage" for workers.

In some cases, firms could pass on the increased costs through higher prices to customers, but workers' wage rises could be restricted as employers look for savings.

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Article Details

Category: Business

Markets: United Kingdom

Topics: Minimum Wage Costs Government Rises Budget Employers Rise Higher Businesses

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 09:30:53 (2 days ago)

News Timezone: GMT +0:00

News Source URL: bbc.com

Language: English

Article Length: 931 words

Reading Time: 6 minutes read

Sentences: 36 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BBC Business

News ID: 23363850

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About BBC Business

Main Topics: Business

Official Website: bbc.co.uk

Update Frequency: 3 posts per day

Year Established: 1922

Headquarters: United Kingdom

News Last Updated: 10 hours ago

Coverage Areas: United Kingdom

Ownership: Independent Company

Publication Timezone: GMT +0:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #43

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