Julian Knight MP has welcomed the Government’s decision to introduce a new National Living Wage (NLW) of £8.72 per hour from 1 April 2020.
This is the biggest-ever cash increase in the NLW and lifts the hourly rate from £8.21 – up more than 50p per hour.
In West Midlands, 270,000 people will benefit from a pay rise– equivalent to almost 12 per cent of all workers across the region.
Nearly 3 million people across the country will benefit from a pay rise of 6.2 per cent in April 2020 – an increase of £930 over the year for a full-time worker on the NLW, and of £3,600 since the Conservatives introduced the NLW in 2016.
The rise means the Conservative government is on track to meet its current target and previous manifesto commitment for the NLW to reach 60 per cent of median earnings by 2020. But there is more to do, which is why the NLW will increase further to £10.50 by 2024 on current forecasts.
The Chancellor has announced his plans to expand the reach of the NLW to cover workers aged 21 and over within five years, benefitting around 4 million people.
Commenting on the announcement, Julian Knight said:
“This is great news for thousands of workers and their families, both in Solihull and across the West Midlands. The rise represents an annual raise of up to £930 for a full-time employee.
“I’m proud to support a Government which is committed not only to delivering record levels of employment, but to ensuring that work pays. Overall, since 2010, average income after tax will have risen by over £5,260 for the lowest paid workers.
“With this announcement, the Conservatives are on track to keep our promise to get the Living Wage up to 60 per cent of the national medium income by 2020.”
