10 October 2014

National Minimum Wage Rates Increased

The National Minimum Wage rates increased as follows from 1 October 2014.

 Until 30/09/14From 01/10/2014
Adult Workers
(21 yrs and over)
£6.31/hr£6.50/hr
Development Rate
(18 – 20 yrs)
£5.03/hr£5.13/hr
Young Workers
(16 – 17 yrs)
£3.72/hr£3.79/hr
Apprentices£2.68/hr£2.73/hr

 

Business Secretary Vince Cable said of the increase:

“Low paid workers will enjoy the biggest cash increase in their take home pay since 2008. This will benefit over 1 million workers on National Minimum Wage and marks the start of a welcome new phase in minimum wage policy.”

The change comes after recommendations from the Low Pay Commission (LPC) which follow consultation with academics, businesses and worker representatives, together with extensive research and analysis. The LPC seeks to balance the need to protect the earnings and jobs of low paid workers against the difficulties faced by employers and businesses and it pays particular attention to the employment prospects of young people.