Everything you need to know about the new National Living Wage

What is the National Living Wage?

What is the National Minimum Wage?

  • Ages 23 and over (The National Living Wage): £8.91
  • Ages 21-22: £8.36
  • Ages 18-20: £6.56
  • Under-18: £4.62
  • Apprentices: £4.30

Budget 2021: All the key points from Rishi Sunak’s plan

Chancellor Rishi Sunak has set out a bold three-point plan in his Budget which he hopes will help the UK recover from the devastating effects of the pandemic.

Key points from his speech have included an increase of the furlough scheme to the end of September, top-ups to Universal Credit and the increase to the contactless payment limit.

Mr Sunak told MPs that the damage to the economy done by Covid-19 had been ‘acute’ as he began his statement.

  • Furlough to be extended to end of September, Rishi Sunak confirms
  • 700,000 people lost their jobs in a year but Sunak confirms UK ‘will recover’
  • National minimum wage to go up from April
  • New 5% deposit scheme to make it easier for people to buy homes
  • Stamp duty holiday extended to end of June saving buyers up to £15,000
  • Hairdressers and gyms can get grants up to £18,000 when they reopen
  • Universal Credit £20 a week uplift extended for six months
  • Corporation tax to rise to 25% in 2023
  • Beer and wine tax to stay the same for the second year running

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