Chancellor pledges to raise National Living Wage to £10.50

Sterling Rates To Fluctuate During Brexit Negotiations

The government has pledged to raise the National Living Wage to £10.50 within the next five years.

Speaking at the Tory Party Conference yesterday, Chancellor Sajid Javid also pledged to lower the threshold for those qualifying for the National Living Wage from 25 to 21.

The National Living Wage is currently set at £8.21 for those 25 and over, with the rate reviewed each April.

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Mr Javid said: “It’s clear it’s the Conservatives who are the real party of labour – we are the workers’ party.”

“The Chancellor said the move would make the UK “the first major economy in the world to end low pay altogether”.

He added that cutting the threshold to 21 would be done in stages with 23 year olds qualifying in 2021 and 21 year olds by 2024.

Shadow Chancellor John McDonnell branded the Chancellor’s announcement a “pathetic attempt at catch-up” after Labour promised to raise the National Living Wage to £10 by 2020 earlier this year.

TUC general secretary Frances O’Grady said the government’s pledge would be overwhelmed by a no-deal Brexit.

She added: “If we leave the EU without a deal, jobs will be lost, wages will fall, and our public services will suffer.”

Tags : ChancellorNational Living WageSajid JavidTory Party Conference
Patrick Cremona

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