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Wages to increase in April as cost of living soars

todayMarch 3, 2022 8

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Millions of workers will earn more as changes come into force in April while the cost of living soars.

The National Living Wage is due to increase by 6.6%, from £8.91 an hour to £9.50 an hour.

It means that around two million employees in the UK will get a pay rise from April 1.

The 59p hourly boost will mean a full-time worker on the living wage will get a pay rise of more than £1,000 per year, according to the government.

But the rates will differ for under-21s, who instead receive the National Minimum Wage.

Their rate will increase from:

  • £8.36 to £9.18 for 21-22 year olds
  • £6.56 to £6.83 for 18-20 year olds
  • £4.62 to £4.81 for 16-17 year olds
  • £4.30 to £4.81 for apprentices

The Treasury confirmed in October ahead of Chancellor Rishi Sunak’s Budget that the increase for all over-23s will take place on April 1 2022.

It comes as labour shortages continue to drive wages higher across the retail and hospitality sectors.

For example, Marks & Spencer is to raise its minimum pay for staff to £10 an hour and boost health benefits for workers.

The high street giant confirmed its new minimum wage – which would put the retailer above the new minimum wage of £9.50 for workers over 23 – will come into force in April.

M&S said it will also raise its minimum rate in London to £11.25 an hour.

The new £10 national base rate of pay will put it on par with a host of rival retailers including Aldi, Lidl, Morrisons and Sainsbury’s, which have risen rates in recent months.

Workers at M&S will also benefit from an extended benefit package, including access to a virtual GP service, health check screening and advice on financial management.

New figures from the Office for National Statistics on Tuesday revealed that average pay in the UK grew by 4.3% in the final quarter of last year, but this is currently outstripped by inflation, which has soared by 5.5%.

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