A 'large' increase will be made to the national living wage next year, Chancellor Jeremy Hunt announced in a package to help the hard-up. Speaking in his autumn statement in the Commons this lunchtime, he said the the national living wage would be increased to £10.42 from April 2023.
He claimed this would help two million of the lowest paid workers in the UK and was in step with the target to reach two-thirds of median earnings by 2024, as reported by Coventry Live. In real terms for someone on the living wage this change will account to a £1,600 pay rise.
Mr Hunt told the Commons: “Today, I am accepting the recommendation of the Low Pay Commission to increase it next year by 9.7 percent. That means, from April 2023, the hourly rate will be £10.42 which represents an annual pay rise worth over £1,600 to a full time worker.
