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Annual review of national minimum and living wage rates announced
As part of the Autumn Statement on 17 November 2023, Jeremy Hunt announced the national living wage and national minimum wage rises from 1 April 2023. They are reviewed annually and increase in April yearly. The new rates from 1 April 2023 will be:
| Age group | Rate will increase to | Rate increased from |
|---|---|---|
| Age 23 or over | £10.42 | £9.50 |
| Age 21 to 22 | £10.18 | £9.18 |
| Age 18 to 20 | £7.49 | £6.83 |
| Age 16 to 17 | £5.28 | £4.81 |
| Apprentice rate* | £5.28 | £4.81 |
| Accommodation offset amount | £9.10 | £8.70 |
If your organisation pays rates at or around the national minimum or living wage, or is planning to recruit, please be sure to check pay rates and build the increase into budgets with effect from 1 April 2023.
*The apprentice rates apply to those under 19 years old or who are over 19 years old but in the first year of their apprenticeship.
If you would like assistance or to discuss developing a strategy and policy in your workplace, then please make an enquiry to see how we can help. We can discuss how BLHR, our fixed annual price HR support service, may support your business with this and more widely. You can contact me directly on 01206 217318 or email me at julie.temple@birkettlong.co.uk
The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.
