National Living Wage 


During the general election, the Conservative Party pledged that it would raise the National Living Wage to £10.50 an hour by 2024. Yet this may be yet another empty promise — like its previous £9 by 2020 target — as the figure is tied to median earnings growth and therefore dependent on wider economic conditions (see page 3). 


Although the Low Pay Commission’s new remit will be to raise the low-pay floor from its 2020 position of 60% of median earnings to two-thirds of median earnings by 2024, Brexit and a slowdown in the world economy may mean that the actual figure remains below target.


The major change will be to the NMW age threshold, with the National Living Wage being offered to all workers above the age of 21, down from 25. However, it falls short of union demands to set a single wage floor for all in employment regardless of age.

https://www.gov.uk/government/news/government-announces-pay-rise-for-28-million-people