UK Government Raises Minimum Wage by 10% | November 2023

The UK government has announced a 10 per cent rise in the national living wage to take effect in the Spring of 2024. The pay floor for adult workers will be £11.44 per hour and is likely to directly benefit over 2.5 million workers, adding around £1,800 to the annual income of someone in a full-time job on minimum wage.

But some businesses worry about their ability to absorb a further rise in costs. Will this announcement cost jobs in sectors such as retailing and hospitality?

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