Budget Announces New National Minimum Wage Rates

Another month another budget. Jeremy Hunt has announced the latest budget and The National Minimum Wage Rates are changing. Due to them being index linked and inflation hitting a high the rise is one of the biggest in years.

	23 and over	21-22	18-20	Under 18	Apprentice
2022 rate	£9.50	£9.18	£6.83	£4.81	£4.81
April 2023 rate	£10.42	£10.18	£7.49	£5.28	£5.28

 

The above will have a substantial knock on effect for many employers as many employees will ask for similar pay rises to keep up with inflation but also to keep them suitably remunerated for their skills.