National Minimum Wage increase from 1st October 2015

The National Minimum Wage was increased by 20p on 1st October, bringing the new adult rate to £6.70 an hour.

The hourly rate for 18-20 year olds has increased by 17p to £5.30 an hour and for under-18s, the hourly rate has increased by 8p to £3.87 an hour. Apprentices will now receive an improved rate of £3.30 an hour.

The new rates have come into force after plans for a new National Living Wage of £7.20 an hour, for over-25s, is to be introduced in April 2016. The National Living Wage is intended to rise to £9-an-hour by 2020 meaning employees receive a fairer wage but this could cause some concern to startups and smaller enterprises.