NEWS

Minimum wage rates announced

Published:
23
January 2020

The government has announced a 6.2% increase in the National Living Wage (NLW), which applies to workers aged 25 and over.

From 1 April 2020 the NLW will rise from the current rate of £8.21 to £8.72 an hour, in the largest raise since it was introduced two decades ago.

The government has confirmed that the new rate will start on 1 April 2020 and will result in an increase of £930 annually for 2.8 million full-time workers earning the NLW.

Workers aged under 25 earning the National Minimum Wage (NMW) will also see increases of between 4.6% and 6.5%, depending on their age.

Bryan Sanderson, Chair of the Low Pay Commission (LPC), said:

'The NLW has been an ambitious long-term intervention in the labour market. The rate has increased faster than inflation, faster than average earnings and faster than most international comparators.'

'This has raised pay for millions without costing jobs, although employers have had to make a variety of other adjustments to deal with the increases.'

Internet link: GOV.UK news

Business news
Finsbury Robinson

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare.

Contact Us

Sign up to our
Monthly Business Newsletter

Sign up to receive our monthly Business Newsletter that will keep you up to date with everything going on in accounting, tax, and finance. 

Finsbury Robinson Services
R&D Tax
Has your company undertaken
any R&D related activities?
Find OUt More
Affected by the
Let Property Campaign?
Find OUt More
Check out our fixed price
Accounting and Business Packages
Find OUt More
Free Book-keeping
Software for all Clients
Find OUt More
Free Auto Enrolment Pensions Advice
Calculate your Contribution!
Find OUt More
Are you aware of the Capital Gains Tax Changes coming?
GDPR Compliance
CAN YOU AFFORD NOT
TO BE GDPR COMPLIANT?
Find OUt More

Sign up to our Monthly Business Newsletter

Find News Articles by Category

News HomeJanuary
Minimum wage rates announced for 2020
To get in touch use our Quick Contact Bar:
Show/Hide

Monday                 8:30AM – 5:30PM
Tuesday                8:30AM – 5:30PM
Wednesday          8:30AM – 5:30PM
Thursday              8:30AM – 5:30PM
Friday                 9:00AM – 12:30PM
Saturday                                 Closed
Sunday                                   Closed

Finsbury Robinson
237 Westcombe Hill
Blackheath
London
SE3 7DW