People on National Living Wage could see hourly payments rise to £11.46 per hour from next April
dailyrecord.co.ukThe National Living Wage could rise next year to well above what the UK Government has announced, according to a new report from the Resolution Foundation.
It said stronger than expected wage growth means the figure could increase to around £11.46 per hour next April - well above the £11 suggested recently by Chancellor Jeremy Hunt.
The think tank said the National Living Wage is currently pegged to median hourly pay, so strong wage growth in recent months - average weekly earnings grew by 7.8 per cent in the three months to August - should increase its cash value next April.
The foundation’s calculation implies the statutory rate will rise to £11.46 per hour next year, up from the current £10.42. This would be a 10 per cent increase in real-money terms, the third largest percentage cash increase in the minimum wage during its 26-year history.
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