Chancellor Philip Hammond has announced that the rates of the National Living Wage and National Minimum Wage are rising from 1 April 2019.
The hourly rates will increase in April 2019:
The government accepts the Low Pay Commission’s recommendation of an increase to the National Living Wage rate such that it remains on path to reach 60% of median earnings by 2020.
The National Minimum Wage youth rates will be increased above the rates of inflation and of average earnings.
See our Budget briefing for other announcements in the Budget
If you would like to discuss the impact of these rises for your business, please contact your usual Bishop Fleming adviser.