The Low Pay Commission (LPC) is the independent body that advises the Government on the level of the minimum wage. Later this year, the LPC will recommend the National Minimum Wage (NMW) and National Living Wage (NLW) rates to apply from April 2024. You can view the consultation online at this link: https://www.gov.uk/government/consultations/low-pay-commission-consultation-2023 .
The deadline for submissions is 9 June – alternatively please pass your comments through to the Chamber.
On 1 April, the NLW increased to £10.42. A further increase is expected next year to enable the government to reach its target of two-thirds of median earnings in 2024.
• The LPC anticipates the on-course NLW will be between £10.90 and £11.43 with a central estimate of £11.16.
• The age threshold for the NLW is likely to be moved from 23 to 21 in 2024 and, therefore, 2023 will be the last year in which there is a separate 21-22 Year Old Rate.
• The LPC is asking if the Apprentice Rate should be abolished.
