For those employers who engage employees and workers on the minimum wage, some changes could be on the horizon. The current minimum wage levels are as follows:


Per Hour

Apprentices

£3.90

Age 16 & 17

£4.35

Age 18 to 20

£6.15

Age 21 to 24

£7.70

Age 25 and over

£8.21

There have been a number of different pledges from the political parties recently, with the Chancellor announcing yesterday that the rate would increase to £10.50 by 2024 and that this new rate would apply to those aged 21 and over. The Shadow Chancellor pointed to a previous announcement which had pledged an increase to £10.00 in 2020 and that this would apply to under 18's too. 

Whatever happens, minimum wage levels look set to increase at some point soon and if the lowering of the age threshold is implemented, this will mean many more individuals qualify for a higher rate of pay. This will obviously mean an increased labour cost for some employers.