The UK has a legal minimum wage which all firms should pay and all workers should receive.
Today, the Chancellor is expected to announce an increase for the National Living Wage from the current level of £9.50 an hour for over-23s. There are suggestions it could increase to about £10.40 an hour.
The Trades Union Congress has called for the minimum wage to increase to £15 an hour to help households cope with “eye-watering bills and soaring prices”.
As it stands, the UK has:
- A National Minimum Wage – the minimum pay per hour workers are entitled to
- A National Living Wage, which is higher than the National Minimum Wage – workers get it if they’re over 23
- And the Real Living Wage, which is calculated by the Living Wage Foundation
charity. It’s above the level of the legal minimum wage, reflecting what the charity thinks people need to earn to cover everyday needs. There are about 11,000 Living Wage-accredited employers in the country
Source: BBC