The lowest earners in the UK are all set to get a pay hike next year. The UK Govt., delivering on its election manifesto promise, seeks to raise the living standards of the country as it exits the European Union.
Sajid Javid, Chancellor of the Exchequer, said that the UK would hike the minimum wage by 6.2% from 1st April 2020. The new move is in line with the independent Low Pay Commission recommendations.
As per the Treasury, the mandatory National Living Wage will be raised from the current £8.21 to £10.50 an hour for the next five years.
The Treasury also said that 2.8 million people over 25 years would get a pay hike to £8.72 from 1st April 2020. For people aged between 21 and 24 years, the pay will be increased from £7.70 an hour to £8.20 an hour.
Boris Johnson, Prime Minister, issued a statement saying that hard work should always pay. However, many people did not get the pay hike that they deserved. As the UK enters a new decade, the Government is setting its sights higher to help people earn more over the next five years. This will level up access to opportunities across the UK.
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