The National Minimum Wage will increase from 1 October 2014. The new rates will be as follows:
- The standard adult rate (for workers aged 21 and over) will rise by 3% to £6.50 an hour (up 19p from £6.31).
- The youth development rate (for workers aged between 18 and 20) will rise by 2% to £5.13 an hour (up 10p from £5.03).
- The young workers rate (for workers aged under 18 but above the compulsory school age who are not apprentices) will rise by 2% to £3.79 an hour (up 7p from £3.72).
- The rate for apprentices will rise by 2% to £2.73 an hour (up 5p from £2.68).
- The accommodation offset will rise by 3.5% to £5.08 a day (up 17p from £4.91).
- These increases follow recommendations from the Low Pay Commission. Vince Cable, the Business Secretary has set plans for bigger increases in the National Minimum Wage in future years, if economic conditions keep improving.
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