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<p>The Government has announced that in April 2020 the National Living Wage (NLW)
will increase by 6.2 per cent to £8.72 for those aged 25 and over. The Government
has also announced inflation-beating increases in the National Minimum Wage (NMW)
rates for younger workers and apprentices of between 4.6 per cent and 6.5 per cent.</p><p>
</p><p>My Rt. Hon. Friend Mr Chancellor of the Exchequer has pledged that the NLW
will increase further, reaching two-thirds of median earnings by 2024, providing economic
conditions allow. The Government also plans to expand the reach of the NLW, bringing
down the eligibility threshold first to age 23 in 2021 and then to 21 by 2024.</p><p>
</p><p>The Government increases the NLW and NMW rates annually with consideration
to recommendations made by the independent Low Pay Commission (LPC). The Government
will publish the LPC’s 2020 remit, which will include details of the new target for
the NLW to reach two-thirds of median earnings by 2024.</p>
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