National living wage increases and age threshold changes
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Today, the government confirmed the revised National Living Wage (NLW) for 2024, and changes in the age threshold.

From April 2024, the NLW will rise by almost 10%, from £10.42 to £11.44 an hour, with the NLW now reaching 2/3 of median earnings, and this will apply to anyone over the age of 21.

It was also confirmed that the age threshold will be reduced to 21-year-olds, who, from April, will earn £11.44 an hour – up from £10.18 currently.

Rates for younger workers will also increase, with 18-20-year-olds earning £8.60 per hour from April 2024 – a £1.11 hourly rise.

The government also confirmed an over 20% increase in apprenticeship rates, from £5.28 to £6.40 an hour.  

The Department for Business and Trade (DBT) estimates that about 2.7 million workers will directly benefit from the 2024 National Living Wage increase.