Autumn Budget 2024 | Rises to Minimum Wages

Ahead of the Chancellor’s Budget this lunchtime, it has been confirmed that minimum wages will rise in April 2025:

Rachel Reeves said the pay boost marked a "significant step" towards achieving Labour’s promise of a "genuine living wage" for workers.

A summary of the confirmed rises is as follows:

1. The National Living Wage minimum wage (for over 21s), will rise by 6.7%, from £11.44 to £12.21 from April 2025 (this follows a rise in April 2024 of 98p to £11.44 an hour, from £10.42).

2. For 18 to 20-year-olds the minimum wage will rise over 16%, from £8.60 to £10 (this follows a rise in April 2024 of £1.11 to £8.60, from £7.49).

3. Apprentices will get the biggest increase in percentage terms (almost 18%), from £6.40 to £7.55 an hour. (this follows a rise in April 2024 of £1.12 to £6.40, from £5.28).

Hospitality businesses, like many other businesses, have felt the painful impact of high food and fuel inflation over the last few years. These increases in wages will be another serious factor to be included in next year’s budget calculations for many business owners.