Further to yesterday’s Budget announcement, the Low Pay Commission has published its report and recommendations on the National Living Wage and National Minimum Wage rates. The Government has accepted the recommendations and the rates will be introduced from April 2018 as per the list below.
Wage Rates to apply from 1st April 2018
- National Living Wage (workers aged 25 and over) - £7.83
- National Minimum Wage (workers aged 21 to 24) - £7.38
- Youth Development Rate (workers aged 18 to 20) - £5.90
- 16-17 Year Old Rate- £4.20
- Apprentice Rate - £3.70
ACS’ member survey shows that retailers responded to the £7.50 National Living Wage rate by reducing working hours in the business (78%), reducing the profitability of their business (78%), working more hours in the business themselves (65%) and delaying investment plans (56%).
ACS’ full submission can be viewed here.
The Low Pay Commission’s Report on the 2018 National Living Wage rate is available in full here.
