Minimum Wage Increase from 1st April 2023
The rates of the National Living Wage (NLW) and National Minimum Wage (NMW) will rise from £9.50 to £10.42 per hour on 1 April 2023.
Increases will be as follows;
a 92p, or 9.7 per cent, increase to the NLW for those aged 23 and over (from £9.50 to £10.42 per hour)
a £1, or 10.9 per cent, increase for those aged 21–22 (from £9.18 to £10.18 per hour). (This increase is intended to narrow the gap with the NLW and put this age group on course to receive the full NLW by 2024)
a 66p, or 9.7 per cent, increase for those aged 18–20 (from £6.83 to £7.49 per hour)
a 47p, or 9.7 per cent, increase for those aged 16–17 (from £4.81 to £5.28 per hour), and
a 47p increase in the apprentice rate (from £4.81 to £5.28 per hour).
The Department for Work and Pensions has published its annual rate increases for 2023/2024. The rate for statutory maternity, paternity, adoption, shared parental and parental bereavement pay will increase to £172.48 per week (previously £156.66). The rate for statutory sick pay will increase to £109.40 per week (previously £99.35).