Living wage set to increase in Wednesday’s budget

The government said it will give full-time workers an extra £1000 a year

Chancellor Rishi Sunak is expected to increase the national living wage to £9.50 in Wednesday’s budget.

The wage is set to rise from the current living wage of £8.91 per hour for those aged 23 and over.

The government said it will give full-time workers an extra £1000 a year.

READ MORE: Budget 2021: What the experts say

The national living wage is what the government has called the national minimum wage for anybody above 22-years-old since 2016.

Those below that age are eligible for what is called the “national minimum wage”, which will also see a rise.

People aged 21-22 will see an increase to £9.18 an hour from £8.36 and apprentices, who must be aged 16 or over and not in full-time education, will get a rise to £4.81 from £4.30 an hour.

“This is a government that is on the side of working people. This wage boost ensures we’re making work pay and keeps us on track to meet our target to end low pay by the end of this parliament,” Sunak said.

The government has already revealed the following commitments:

• £1.4 billion to encourage foreign investment into UK businesses and attract overseas talent

• £700 million to be spent mainly on the new post-Brexit borders and immigration system, as well as a new maritime patrol fleet

• a six-month extension to the Covid-19 recovery loan scheme to June 2022

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