UK National Minimum Wage Increases Today
Businesses owners must now pay staff at least £6.70 an hour and rates for younger workers and apprentices have also increased
The National Minimum Wage has increased to £6.70 an hour today (Oct 1) for all employees aged 22 and over – a 20 pence increase on the previous hourly rate of £6.50.
Business employing apprentices and workers aged between 16 to 17 must also increase wages to a minimum of £3.30 and £3.87 an hour respectively.
The news will be welcomed by workers, with an estimated 1.4 million employees set to experience a wage increase, however small and businesses have conveyed concerns that the higher rate will negatively affect cashflow.
For more information on the National Minimum Wage and what it means for your small business, check out our guide here.