Chancellor Jeremy Hunt has previously suggested the national living wage will rise to £11 an hour in April 2024 - but new estimates suggest he may have 'underpromised'.
The national living wage could rise to £11.46 an hour last year - well above what the government has announced. The minimum rate for adults over 23 is pegged to median hourly pay - and stronger-than-expected wage growth means April's increase could exceed the £11 an hour recently suggested by the chancellor. Average weekly earnings grew by 7.8% in the three months to August, and according to the Resolution Foundation think tank, this could lead to a £1.
'However, a higher minimum wage alone cannot deliver higher living standards for everyone. Over the past decade, cuts to working-age benefits have offset the gains from the national living wage for many. 'Low-paid families with children in receipt of benefits will have experienced next to no, or even negative, income growth over this period, despite their hourly pay rising by 27% in real terms.
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