Nlc and minimum wage latest news

Here are the latest news and updates on the National Living Wage (NLW) and minimum wage in the UK:

National Living Wage (NLW)

• The NLW is the minimum hourly rate that employers must pay workers aged 23 and over. It is currently set at £9.50 per hour.
• The NLW is expected to increase to £10.50 per hour in April 2024, according to the UK government's budget announcement in March 2023.
• The NLW is higher than the National Minimum Wage (NMW), which applies to workers aged 21-22.

National Minimum Wage (NMW)

• The NMW is the minimum hourly rate that employers must pay workers aged 21-22. It is currently set at £9.18 per hour.
• The NMW is expected to increase to £9.50 per hour in April 2024, according to the UK government's budget announcement in March 2023.
• The NMW is lower than the NLW, which applies to workers aged 23 and over.

Recent changes

• In April 2022, the NLW increased to £9.50 per hour, and the NMW increased to £9.18 per hour.
• In April 2021, the NLW increased to £9.30 per hour, and the NMW increased to £8.91 per hour.
• In April 2020, the NLW increased to £8.91 per hour, and the NMW increased to £8.20 per hour.

Enforcement

• The UK government's Department for Business, Energy and Industrial Strategy (BEIS) is responsible for enforcing the NLW and NMW.
• Employers who fail to pay the correct minimum wage can face fines of up to 200% of the underpaid wages, as well as publicity and reputational damage.
• The BEIS has a dedicated helpline for workers who believe they are not being paid the correct minimum wage.

Recent enforcement activity

• In 2022, the BEIS issued fines totalling £1.3 million to 143 employers who failed to pay the correct minimum wage.
• In 2021, the BEIS issued fines totalling £1.1 million to 134 employers who failed to pay the correct minimum wage.
• In 2020, the BEIS issued fines totalling £1.2 million to 136 employers who failed to pay the correct minimum wage.

Industry reactions

• The Federation of Small Businesses (FSB) has called for the NLW to be increased in line with inflation to help small businesses cope with rising costs.
• The Confederation of British Industry (CBI) has called for the NLW to be increased gradually to help businesses adapt to the change.
• The Trades Union Congress (TUC) has called for the NLW to be increased to £12 per hour to help workers keep up with the cost of living.

I hope this information is helpful!