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Britain to raise minimum wage to 9.50 pounds a hour

Sterling steady as rate hike expectations grow
Sterling steady as rate hike expectations grow Copyright Thomson Reuters 2021
Copyright Thomson Reuters 2021
By Reuters
Published on Updated
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LONDON - 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)

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