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Healey to raise minimum wage by 3.9 per cent at Budget
Chancellor John Healey is expected to announce a 3.9 per cent increase in the minimum wage in Wednesday's Budget.
Chancellor John Healey is expected to announce a 3.9 per cent increase in the minimum wage in Wednesday's Budget, raising the national living wage for workers aged 21 and over from £12.71 to £13.20 per hour. The national minimum wage for those aged 18 to 20 will rise from £10.85 to approximately £11.27, the same percentage increase. This marks a significant shift from Labour's manifesto commitment to equalise wages for younger and older workers by 2030. The government has reportedly paused efforts to close the gap between the two rates amid concerns from businesses that higher minimum wages are discouraging them from hiring young people, contributing to youth unemployment exceeding one million.
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