The Chancellor of the Exchequer has announced at the 2019 Conservative Party conference that the National Living Wage (NLW) will rise to £10.50 per hour within five years, i.e. by 2024, aiming to reach two-thirds of median earners. He also announced that the age threshold for the NLW will be lowered from age 25 to age 21 in two stages, so that it applies to those aged 23 and over from April 2021, and then to those aged 21 and over by 2024. This follows a review of the youth rates of the National Minimum Wage (NMW) carried out by the Low Pay Commission (LPC). The LPC made its recommendations to the government on lowering the age threshold in a letter sent in August 2019 which has now been published. 

The government will set out future policy developments for the NLW at the 2019 Budget, a date for which has not yet been set.

Source: New feed