© Reuters. FILE PHOTO: Pound Sterling notes and change are seen inside a cash resgister in a coffee shop in Manchester, Britain, Septem,ber 21, 2018. REUTERS/Phil Noble/File Photo
LONDON (Reuters) -Britain will announce a rise in its minimum wage for those aged 23 and over to 9.50 pounds ($13.06) per hour from 8.91 pounds in the government’s budget statement on Wednesday, the finance ministry said on Monday.
“This wage boost ensures we’re making work pay and keeps us on track to meet our target to end low pay by the end of this Parliament,” finance minister Rishi Sunak said in a statement ahead of his annual budget presentation on Wednesday.
The increase in the minimum wage is due to take effect in April 2022. Rates for people aged under 23, who are paid a lower minimum wage, are also due to rise, the finance ministry said.
($1 = 0.7272 pounds)
Britain to raise minimum wage to 9.50 pounds a hour
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.