Around 1.7million workers are set to receive a “significant” pay boost when the National Minimum Wage (NLW) increases from Saturday, April 1. The Resolution Foundation said that the 92pence rise to £10.42 an hour for workers aged 23 and over is equivalent to a near 10 per cent increase.
The think tank said the increase is the biggest annual cash rise in the 24-year history of the minimum wage and one of the largest annual percentage rises. The foundation said the scale of the increase means the lowest-paid workers will enjoy a “rare” real-terms pay boost.
Around 1.7million workers currently earning up to 5pence above the current minimum wage will directly benefit in full from the increase in the NLW, though potentially another five million low-paid workers will benefit indirectly from its ‘spillover’ effects as employers look to maintain differentials between pay bands.
