The minimum wage in Britain is expected to go up by almost 4% next year, according to a newspaper report. The British chancellor of the exchequer (finance minister) is due to announce the change on Wednesday as part of the budget.
\n\nThe National Living Wage covers workers aged 21 and over. It is expected to climb from £12.71 to about £13.20 an hour, which works out to an increase of 3.9%. That is roughly $17.63 in U.S. currency. Younger workers would see a similar rise. The National Minimum Wage for 18 to 20 year olds will increase from £10.85 to around £11.27 an hour.
\n\nIf the budget confirms the figures, the new rates would start in 2027.
\n\nSome analysts and employers have argued that the rate paid to younger staff is one reason youth unemployment has been climbing.
\n\nThe Low Pay Commission, the body that advises the government on these decisions, gave its own estimate in April. It said the National Living Wage would probably need to rise by about 3.7% in 2027, to £13.18 an hour, to keep pace with expected growth in average pay. The figure in the new report is slightly higher.
\n\nIn March, the government also…
Original source: https://www.timesnownews.com/world
