Chancellor Rachel Reeves announced a generous pay rise for millions of low-income workers in the UK as part of the government's goal of improving the country's living standards, but business experts are worried about its possible outcome.
The national living wage will increase from £12.21 to £12.71 ($16.13 to $16.79) per hour from April for workers aged 21 and above. The government said that the rise will boost the annual earnings of approximately 2.4 million workers in the country by £900 (approximately $1,100).
