MILLIONS of Brits could get a pay rise of almost £1,000 a year if the Prime Minister decides to hike minimum wage.
Boris Johnson is expected to announce that the National Living Wage will increase to around £9.42 per hour – compared to the current £8.91 rate.
1
The potential increase would mean the lowest earners would see their annual pay rise by 5.7%.
That amounts to an extra £928 a year for someone working a 35 hour week, The Times reported.
The PM is expected to make an announcement on workers’ pay in a speech at the Conservative Party conference in Manchester today.
The Sun previously reported that the minimum hourly wage could be raised to as much as £10.
The majority of workers in the UK are entitled to receive the National Minimum Wage, but the amount they are paid is dependent on their age.
You must be at least 16 years of age to get the minimum payment, but you’re entitled to it even if you just do part-time work.
Currently, Brits aged 23 and over are entitled to the National Living Wage of £8.91, with a lower rate of £8.36 for 21 or 22-year-old workers.
The rate for under 21s is £6.56, under 18s get £4.62 and apprentices should be paid at least £4.30 per hour.
Mr Johnson has previously warned company bosses that “people need to be decently paid”, saying it falls to businesses to invest more — making jobs more attractive to Brits.
Earlier this week he launched an attack on big businesses addicted to broken profit models relying on low pay and imported workers.
He said there would be a period of adjustment but added: “That is what I think we need to see.”
Retail and logistics businesses have already been forced to hike wages in an attempt to fill worker shortages.
Sainsbury’s and Morrisons are both offering above minimum wage as the supermarkets look to hire thousands of Christmas temps.
Lorry drivers have been offered £1,000 joining bonuses and higher wages as firms struggle with a HGV driver shortfall.
Boris Johnson says this Christmas will be ‘considerably better than last Christmas’ as HGV and fuel crisis continues
We pay for your stories!
Do you have a story for The Sun Online Money team?
Email us at [email protected]
