National Minimum Wage rises to £6.70

Business owners will also have to pay younger workers and apprentices higher rates from today...

An estimated 1.4 million UK workers are set to benefit from an increase to the National Minimum Wage today, as the government introduces the biggest real-term rise in seven years.

Business owners now need to pay adult workers aged 22 and over, except “accredited trainees and some excluded groups, £6.70 an hour – a 20 pence increase on the previous rate of £6.50. 18-20 year olds will also see their minimum hourly wage rate rise to £5.30.

Employers are also now required to pay workers aged between 16-17 at least £3.87 per hour, and companies have to pay apprentices a minimum £3.30 an hour.

Whilst the news comes as a positive for workers, small businesses have expressed concerns that the higher rate will eat into profit margins and restrict growth.

What’s your view on the 20 pence National Minimum Wage increase? Share your thoughts in the comment section below.

 

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