- The rise in hourly pay will take place from April 2020
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The government has announced that there will be a rise in the National Living Wage from April 2020.
Amongst the new hourly rates are for workers aged 25 and over, where it will rise from £8.21 to £8.72 per hour, as well as those aged between 21-24, who will see a 50p rise per hour, from £7.70 to £8.20.
FSB director of external affairs and advocacy, Craig Beaumont, commented, “It is absolutely right that everyone is paid fairly. Small businesses are at the heart of communities – creating jobs and bolstering local economies – so it’s vital that increases in the National Living Wage are manageable for small firms and do not put jobs at risk.
“This government has promised a reduction in the jobs tax through an increase in the employment allowance. With a National Living Wage increase of this size now on the horizon, it’s critical that it delivers swiftly, particularly with small business confidence plumbing new depths ahead of the election. We need this support announced in good time ahead of April’s increase so small businesses can plan ahead.”