From April 2017, the National Living Wage (NLW) for the over 25s is being increased to £7.50 per hour. This is an increase from the current NLW rate set in October 2016 of £7.20 an hour. For the over 25s, this will represent a wage increase of just over 4%.
The National Minimum Wage (NMW) will also increase from the same date to:
· For 21 to 24 year olds – from £6.95 to £7.05 per hour
· For 18 to 20 year olds – from £5.55 to £5.60 per hour
· For 16 to 17 year olds – from £4.00 to £4.05 per hour
· For apprentices – from £3.40 to £3.50 per hour
The government will also be spending an additional £4.3m to ensure that employers are complying with their legal obligation to pay the NMW.