Effective from 1st April 2023, the hourly rate of the National Living Wage (NLW) and National Minimum Wage (NMW) will increase.
The Low Pay Commission’s (LPC) recommendations ensure the NLW continues on track to reach the Government’s target of two-thirds of median earnings by 2024. The recommendations were unanimously agreed by Commissioners and accepted in full by the Government.
Bryan Sanderson, Low Pay Commission Chair, said that the rates announced “include the largest increase to the NLW since its introduction in 2016.” These increases will support the wages and living standards of millions of workers throughout the UK, at a time when many are feeling the pressure from the increased cost of living.
The minimum wage requirement for employee’s is dependent on their age and if they’re an apprentice and is a legal requirement regardless of how small the employer may be.
The revised rates that will take effect on 1 April 2023 are: