Millions of workers to get up to £1,040 pay rise from next month

A total of 2.7million workers are set to benefit

Following the Spring Statement, the Treasury confirmed that the National Living Wage will go up to £12.71 an hour for workers aged 21 and over from April 1, which is 50p more than its current level of £12.21 an hour.

This means that the average salary of a minimum wage worker will bump from £25,397 to £26,437 a year.

Based on a 40-hour working week, this will give workers an extra £1,040.

In the meantime, 18 to 20-year-olds will see their pay increase by 8.5% from £10 to £10.85 an hour.

For 16 to 17-year-olds and apprentices, the National Minimum Wage will rise by 6% from £7.55 to £8 per hour.

The minimum wage rate boost was revealed by the government in November, but it was confirmed this week by the Treasury.

The Treasury said that easing the cost of living is the “government’s number one focus”, adding: “That’s why we are boosting the minimum wage for millions of workers”.