Legislation was laid before Parliament last week confirming that the new National Living Wage and new Minimum Wage rates will take effect from 1 April 2025.
While many businesses are feeling and have expressed concern about the increases, the sight of the legislation suggests that no reprieve is in sight.
As a reminder, the National Living Wage will increase to £12.21 from 1 April. This is a 6.7% increase and will be worth £1,400 a year to an eligible full-time worker.
The National Minimum Wage for 18-20 year olds will increase to £10.00 an hour. For an eligible full-time worker, this will work out to an extra £2,500 a year.
An impact assessment published on the same day the legislation was laid indicates that these increases will put around £1.8 billion into the pockets of workers over the next six years.
While these measures will benefit many workers, you may be concerned about the anticipated cost of this increase causing problems for your business.
If you need help costing out what the increases will cost you and advice on the potential strategies you have to manage these costs, please get in touch and we would be happy to help you!
See: https://www.gov.uk/government/news/april-pay-rise-set-to-boost-pockets-of-over-3-million-workers
The troubled Shetland SaxaVord Spaceport project has been saved. The £30 million rescue package for the ex-RAF station in Unst was announced the day after a rapidly rolled-out new UK space strategy was presented by the government.
The Apprenticeship Levy has undergone its biggest overhaul since its introduction, with major changes taking effect from 1 August 2026. For Small to Medium-sized Enterprises (SMEs), the most significant development is the expansion of what levy funds can be used for under the new Growth and Skills Levy. This expansion comes alongside tighter funding rules, making planning more important than ever.
