The Government has accepted the recommendations of the Low Pay Commission (LPC) and has announced the new rates of the National Living Wage (NLW) and the National Minimum Wage (NMW) which will come into force on 1 April next year.
- The NLW for workers who are 23 and over will rise from £9.50 to £10.42 per hour.
- The NMW for those aged 21 to 22 will rise from £9.18 to £10.18 per hour.
- The NMW for those aged 18 to 20 will rise from £6.83 to £7.49 per hour.
- The NMW for those aged 16 to 17 will rise from £4.81 to £5.28 per hour.
- The apprentice rate will increase from £4.81 to £5.28 per hour.
The LPC believes that the increase to the NLW (which it has said will support the wages and living standards of low-paid workers at a time when many are feeling pressure from a rising cost of living) sets it on track to reach the Government's target of two-thirds of median earnings by 2024.
Meanwhile the government has also published details of changes to family friendly pay and statutory sick pay that will apply from 10 April 2023.
- The standard rate for statutory adoption pay, statutory maternity pay, statutory paternity pay, statutory shared parental pay and maternity allowance will be £172.48 per week (rising from £156.66).
- The standard rate for statutory sick pay will be £109.40 per week.
