High Peak MP Robert Largan has welcomed the news that 188,000 workers across the region have received a pay rise this year thanks to increases to the National Living Wage and National Minimum Wage brought in by the Government.
The rate rises include a 2.2 per cent increase in the National Living Wage to £8.91, the equivalent of more than £345 extra per year for someone working full-time. For the first time since it came into effect in 2016, more younger people will be eligible for the National Living Wage, as the age threshold will be lowered from 25 to 23 years old.
The rise means someone working full time on the National Living Wage from April 2021 will be taking home £5,400 more annually than they were in 2010.
The Government remains committed to the target of the National Living Wage reaching two-thirds of median earnings by 2024, and this increase allows progress to continue to be made towards it.
Other rate increases include:
• A 2.0 per cent increase for 21-22 year olds, from £8.20 to £8.36 an hour.
• A 1.7 per cent increase for 18-20 year olds, from £6.45 to £6.56 an hour.
• A 1.5 per cent increase for under 18 year olds, from £4.55 to £4.62 an hour.
• A 3.6 per cent increase to the Apprenticeship Wage, from £4.15 to £4.30 an hour.
These pay increases build on the unprecedented support the Government has delivered to protect jobs and livelihoods throughout the pandemic, including protecting 11.2 million jobs through the furlough scheme, £18.9 billion to support 2.7 million self-employed workers to date, and billions of pounds in tax deferrals and grants for businesses.
Last month’s Budget also saw new measures to cut the cost of living by freezing fuel duty for the eleventh consecutive year, saving an average car driver £12.84 per tank and a cumulative £1,600, and freezing all alcohol duties, saving drinkers £1.7 billion.
Robert Largan MP commented:
“This has been an extraordinarily difficult year for workers across the High Peak, but as we recover from the pandemic, this Government is determined to put more money into the pockets of our lowest-paid workers.
“These increases to the National Living and Minimum Wages will benefit around 188,000 people across the region, giving them a much-needed pay rise as we steadily reopen the economy and get more people back to work.
“This will help to protect the lowest paid and put more money in the pockets of hard-working families, supporting the High Peak’s recovery as we build back better from this pandemic.”