UK 2015 Budget introduces the National Living Wage
The new National Living Wage will apply to those aged 25 and over.
The existing National Minimum Wage will continue for those under the age of 25.
The National Living Wage will begin in April 2016 with workers receiving £7.20 an hour, and this will increase to a minimum of £9 an hour by 2020.
The current minimum wage for over 21s is £6.50 an hour (2014 Rate)
The planned increase of 50p an hour to the minimum wage in October 2015, will now effectively be 70p an hour but in April 2016 ?
UK National Minimum Wage Hourly rate for 2015:
£6.70 21 and over
£6.70 18 to 20
£3.87 Under 18