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National minimum wage set to rise
The Government has accepted the independent Low Pay Commission’s (LPC) recommendations for this year’s adult and youth national minimum wage (NMW) rates.
As recommended by the LPC, the following rates will come into effect on 1 October 2014:
- The adult rate will increase by 19p to £6.50 an hour
- The rate for 18-20 year olds will increase by 10p to £5.13 an hour
- The rate for 16-17 year olds will increase by 7p to £3.79 an hour
- The apprentice rate will increase by 5p to £2.73 an hour.
The LPC considered that the rise, the first real-terms cash increase since 2008, is manageable for employers and will support full employment.
David Norgrove, LPC Chairman said “provided the economy continues to improve, we expect to recommend further progressive real increases in the value of the minimum wage, restoring and then surpassing its previous higher level so that 2014 will mark the start of a new phase – of bigger increases than in recent years – in the work of the Commission”.