Jeremy Hunt has announced the National Living Wage for over-23s will be increased from £9.50 an hour to £10.42. The rise in living wage is set to go ahead next April and was confirmed during the the chancellor's Autumn Statement this afternoon (November 17).
In what Hunt described as the 'largest increase in the UK's national living wage ever' the 9.7% increase represents an annual pay rise worth over £1,600 for a full time worker. Speaking at the House of Commons Hunt said: "It's expected to benefit over two million of the lowest paid workers in our country and keeps us on track for our target to reach two thirds of median earnings by 2024 and it is the largest increase in the UK's national living wage ever."
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