Jeremy Hunt unveiled his Autumn Statement on 17th November 2022 in a plan to tackle cost-of-living crisis and to rebuild the economy.
Both the National Minimum Wage and National Living Wage rates will be increasing, with the National Minimum Wage increasing 9.7% for the over 23’s.
With effect from April 2023 the new rates will be as follows:
- National Living Wage, 23 Year plus rate £10.42 per hour Currently £9.50 per hour, increased by 9.7%
- 21-22 Years £10.18 per hour Currently £9.18 per hour, increased by 10.9%
- 18-20 Years £7.49 per hour Currently £6.83 per hour, increased by 9.7%
- 16-17 Years £5.28 per hour Currently £4.81per hour, increased by 9.7%
- Apprentice Rate £5.28 per hour Currently £4.81 per hour, increased by 9.7%