The Government has announced that from April 2016 there will be a new mandatory National Living Wage for workers aged 25 plus, initially set at £7.20 – a 70p increase on the current National Minimum Wage rate. The Government says this move will add over £1000 per annum to the wages of those full-time staff on the National Minimum Wage.
Their ambitious target is to increase the National Living Wage to 60% of the national median income by 2020. To help they recently updated the remit of the Low Pay Commission to include giving recommendations on the best paths to take to get to the 60 percent target.
Read more about the National Living Wage policy on the Government’s website: https://www.gov.uk/government/publications/national-living-wage-nlw/national-living-wage-nlw#rates#.