Millions are due to get a boost in their wages as the Government announces a rise in the National Living Wage
Millions of workers are set to get a pay increase after UK Government chancellor Jeremy Hunt unveiled plans to boost the National Living Wage last month. The news comes as the cost of living continues to soar and wages decrease in real terms for many.
The NLW is a minimum hourly pay rate that is intended to ensure a basic living standard for workers aged 23 and over. It is designed to help reduce rates of in-work poverty and "incentivise work". Currently, the NLW is £10.42 but this is set to change. The Government claims the announcement means a full-time worker on the NLW will be over £9,000 better off than they would have been in 2010. However, everyday expenses cost far more now than they did over a decade ago.
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