MILLIONS of Brits will bag a £1,800 pay rise after Jeremy Hunt today announced a rise in the national living wage.
The Chancellor said the minimum hourly rate for over 23s will rise from £10.42 to £11.44 next April.
It hands a cash boost to around two million workers who receive the national living wage and have seen their packets squeezed by inflation.
Mr Hunt said: “Next April all full-time workers on the National Living Wage will get a pay rise of over £1,800 a year. That will end low pay in this country, delivering on our manifesto promise.
“The National Living Wage has helped halve the number of people on low pay since 2010, making sure work always pays.”
Mr Hunt hiked their pay ahead of tomorrow’s crucial Autumn Statement which will finally deliver long-awaited tax cuts.
Workers are in line for much-needed relief, with National Insurance Contributions expected to be slashed.
Chief Secretary to the Treasury Laura Trott this morning let slip that tax cuts “for individuals” will come alongside ones for businesses to boost growth.
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In key developments:
- Hopes were rising that booze duty will be frozen in a win for drinkers
- Plans to cut inheritance tax are set to be shelved until next year
- Mr Hunt will order a back-to-work drive and crack down on benefits
- The Living Wage is expected to rise above £11 in a much-needed cash boost for workers
- White Van Man is in line for a tax cut through National Insurance Contributions
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This week Rishi Sunak put tax cuts at the heart of a new five-point plan to drag the economy out of the doldrums.
Mr Hunt will also launch a benefits crackdown to coax the army of unemployed Brits back to work.
Hopes are also rising that alcohol duty will be frozen and continued biz rates relief for pubs in a victory for The Sun’s Save Our Sups campaign.
But plans to cut inheritance tax and stamp duty have been shelved until next year, it is understood.
Despite debt soaring, better-than-expected forecasts have given Mr Hunt wriggle room to offer some good news.
The PM is desperate to close the gap with Labour in the polls and hopes to use tomorrow’s financial package as a springboard to woo voters.