Apr 1, 2020
National living wage rises by 6.2%
A 6.2% increase in the national living wage came into effect on Wednesday. The national living wage is the government-mandated minimum wage for people 25 and over. The National Living Wage for ages 25 and above - up 6.2% to £8.72. Employers often worry that a higher minimum wage will lead to more unemployment as they will be forced to lay off workers in order to afford the increases. He said a policy to reduce the National Insurance contributions that firms are required to pay, which was announced in the Budget, will help small businesses foot the bill for the wage increase.
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