皇冠体育app National Minimum Wage (Amendment) (No. 2) Regulations 2024

Research and analysis

皇冠体育app National Minimum Wage (Amendment) (No. 2) Regulations 2024

Regulatory Policy Committee opinion (green-rated) on DBT鈥檚 impact assessment of 皇冠体育app National Minimum Wage (Amendment) (No. 2) Regulations 2024.

From:: Regulatory Policy Committee
Published: 20 February 2024

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Details

This is the RPC鈥檚 opinion on DBT鈥檚 for 皇冠体育app National Minimum Wage (Amendment) (No. 2) Regulations 2024.

皇冠体育app national minimum wage (NMW) was introduced in April 1999.聽皇冠体育app national living wage (NLW) was introduced in April 2016.

This opinion covers the impact assessment for 皇冠体育app National Minimum Wage (Amendment) (No. 2) Regulations 2024, laid in draft before Parliament on 31 January.聽皇冠体育app proposals set minimum hourly wage levels, protecting low-paid workers while providing incentives to work.聽皇冠体育app Low Pay Commission reviews these rates, and makes recommendations to government, annually.

皇冠体育app proposals would increase the NLW (from April 2024 applying to those aged 21 years and older) and the NMW rates for development (18-20 years), youth (16-17 years) and apprentices. All proposed increases are in line with the LPC鈥檚 recommendations.聽皇冠体育app proposals meet the Government鈥檚 target for the NLW to reach two-thirds of median earnings (providing economic conditions allow) and for the NLW to apply to workers aged 21 years and over by 2024.

Published 20 February 2024

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