To mark its 25th anniversary, the UK minimum wage has seen one of its largest annual increases since it was introduced in 1999. The government's 10% hike has, however, provoked concern among businesses, which may be revising their recruitment plans downwards.
The minimum wage will rise from £10.42 to £11.44 an hour (around €13) for employees aged 21 and over from 1 April, as announced by the government in October. This represents an increase of almost 10% and is equivalent to two-thirds of the median wage for workers in this age group. This decision, which is in line with the government’s commitment to reduce the gap between low and high earners by 2025, should benefit around three million workers.
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Article authors
Nathalie Tran
Editor-in-Chief Mind HR