The National Minimum Wage and National Living Wage rise come into effect today, April 1, meaning that around 2.5 million workers across the UK will have their salaries increased.
The news comes as the cost of living crisis puts enormous pressure on people from all backgrounds and becomes an increasing concern for the government.
The uplift in wages will put an extra £1,000 a year into full-time workers' pay packets and includes the largest National Living Wage increase ever for workers aged 23 and over.
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Business Secretary Kwasi Kwarteng said: "We have never been more determined to make work pay, and by providing the biggest cash increase ever to the National Living Wage from today, we are giving a boost to millions of UK workers.
"While no government can control the global factors pushing up the cost of everyday essentials, we will absolutely act wherever we can to mitigate rising costs.
"With more employees on the payroll than ever before, this government will continue to stand up for workers."
The uplift will see the minimum wage for over 23-year-olds move from £8,91 up to £9,50 an hour in a 6.6 per cent boost, with other age groups also getting a significant rise. Workers aged between 21 and 22 years old will see an increase from £8,36 to £ 9,18, and those aged between 18 and 20 - an increase from £6,56 to £6,83 per working hour.
Younger workers of age between 16 and 17 will get a minimum hourly rate raised from £4,62 to £4,81, while apprentices will see an increase of 11.9 per cent - from £4,30 up to £4,81.
While those are the minimum wage guidelines, the government urges businesses to pay their employees more whenever possible.
The record boost to the National Minimum and Living Wage coincides with record-high gas and electricity prices, with the energy price cap rising from £1,277 to £1,971 per year - an increase of £693.
