The UK Government in a press release has announced the rates of the National Living Wage (NLW) and National Minimum Wage (NMW) effective from April 2023.
From 1 April 2023 there will be:
- a 92p, or 9.7 per cent, increase to the NLW for those aged 23 and over (from £9.50 to £10.42 per hour)
- a £1, or 10.9 per cent, increase for those aged 21–22 (from £9.18 to £10.18 per hour). (This increase is intended to narrow the gap with the NLW and put this age group on course to receive the full NLW by 2024)
- a 66p, or 9.7 per cent, increase for those aged 18–20 (from £6.83 to £7.49 per hour)
- a 47p, or 9.7 per cent, increase for those aged 16–17 (from £4.81 to £5.28 per hour), and
- a 47p increase in the apprentice rate (from £4.81 to £5.28 per hour).
The Low Pay Commission recommended the rates and the UK Government accepted those recommendations. The Low Pay Commission recognised that these increases support the wages and living standards of low-paid workers at a time when many are feeling increased pressure from a rising cost of living.
Details of the Government’s press release can be found here: https://www.gov.uk/government/publications/minimum-wage-rates-for-2023