World News – UK – Martin Lewis discovers 71p increase in minimum wage that will benefit thousands

One group will benefit more from the new salary increase that will be introduced from 2021

Would you like to have the latest news delivered to your inbox daily? Sign up for our FREE newsletter below

Money-saving expert Martin Lewis has noted how some UK workers will raise their minimum wages faster than others in 2021.

Chancellor Rishi Sunak announced as 2. 2% rise to the minimum wage in April – that’s an additional 19 pence per hour for people over 25 years of age.

However, Der Spiegel reports that a second change has also been announced – and this means that there is an 8. 66% increase that translates to 71p an hour – for a given group.

Martin tweeted, « The government will raise the National Living Wage by 2. 2% up to £ 8. 91 per hour.

That means people between the ages of 23 and 24 will see wages jump from the current £ 8. 20 and hour at full price of £ 8. 91. .

However, Martin added that despite this hike, the government’s minimum wage is still below the living wage as others are working out.

The ‘Living Wage’ is a completely separate entity established by the Living Wage Foundation. It is reviewed annually.

Currently the living wage is £ 9. 50 per hour in the UK or £ 10. 85 if you live in London.

Joe Levenson, director of communications and campaigns for the Young Women’s Trust, said: « While we welcome the Chancellor’s announcement that the government’s national living wage will be extended to more younger workers, which we have requested, it is unfortunate that it is increased by so little and still not extended to 21 and 22 year olds. « 

However, unlike the national minimum wage, it is voluntary – that is, it is up to companies to decide whether to pay it rather than being required by law.

Wages, Minimum Wage, 2021, Employment, Martin Lewis