National Minimum Wages rates for 2024?
- 9th May 2023
- Posted by: admin
- Category: News
The government has again requested the Low Pay Commission to consider its’ recommendations for increases in the MNW and NLW wage rates from 1 April 2024.
The government has requested the Low Pay Commission to closely monitor developments in the labour market, including the impact of increases to the minimum wage rates, and advise on emerging risks.
The government remains committed to the 2024 target, but if the economic evidence warrants it, the Low Pay Commission will advise the government to adjust the target. This emergency brake will ensure that the lowest-paid workers continue to see pay rises without significant risks to their employment prospects.
The government notes that the Low Pay Commission will continue to expand its evaluation capabilities and commission minimum wage research from leading experts, using new methods and sources of evidence for its assessment of the impact of the National Living Wage.
The government has asked the Low Pay Commission to monitor and evaluate the levels of each of the different National Minimum Wage rates age groups, and apprentice rate, and make recommendations on the increases it believes should apply from April 2024.
The idea is to set rates as high as possible without damaging the employment prospects of each group. In addition, government has asked the Low Pay Commission to recommend the accommodation offset rate that should apply from April 2024.
Source: New feed