Budget 2021: National living wage to increase from £8.91 to £9.50 an hour
Chancellor Rishi Sunak is set to increase the national living wage from £8.91 to £9.50 in Wednesday’s budget, according to reports from Sky News.
The rise is for those aged 23 and over.
Rishi Sunak has announced a series of spending pledges ahead of the autumn budget as he promised to do “whatever it takes” to support families with the cost of living.
Among the promises he has already revealed are:
- £1.4bn to encourage foreign investment into UK businesses and attract overseas talent.
- £700m to be spent mainly on the new post-Brexit borders and immigration system, as well as a new maritime patrol fleet
- £435m for victims services, crime prevention and the Crown Prosecution Service.
- £560m for adult maths coaching to help increase numeracy
- a 6-month extension to the COVID recovery loan scheme to June 2022
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