Are you ready for the 23/24 National Minimum Wage Changes?
The UK’s national minimum wage is an important part of the country’s labour laws, ensuring that all workers receive a fair wage for their work. It is set by the government and is reviewed each year.
| From 1 April 2022 | From 1 April 2023 | |
| Aged 23 years and over (National Living Wage) | £9.50 | £10.42 |
| Aged 21-22 | £9.18 | £10.18 |
| Aged 18-20 | £6.83 | £7.49 |
| Aged 16-17 | £4.81 | £5.28 |
| Apprentices aged under 19 | £4.81 | £5.28 |
| Apprentices aged 19 or over – in the first year of their apprenticeship (The apprentice rate) | £4.81 | £5.28 |
The national minimum wage is a great way to ensure that everyone is paid fairly for their work, and it helps to protect vulnerable workers who may not be able to negotiate higher wages. It is also beneficial to businesses, as it helps them to remain competitive and to attract the best talent.
In addition, the national minimum wage also helps to reduce the level of income inequality in the UK, as those on lower incomes can still make a living wage. This is especially important in the current economic climate, as many workers are struggling to make ends meet.
The current national minimum wage is a great step forward in terms of protecting workers from exploitation and ensuring fair wages for all. It is important that businesses and individuals alike understand the importance of adhering to the law and paying their employees the correct amount.
Get in touch for a chat over a cuppa if you need advice!
