The Home Office announced that it will increase the minimum wage by more than 9% in April 2024.

‌Key Points:

  • The hourly national minimum wage will increase from £10.42 to £11.44 for workers over the age of 20.
  • The new minimum wage will take effect April 1, 2024.
  • The minimum wage is relevant to all workers in the United Kingdom, including foreign workers.

BAL Analysis:  Businesses may see a slight increase in labor costs because of the new minimum wage. Employers should take the new wage minimums into account when planning their 2024 budgets.

This alert has been provided by the BAL Global Practice Group.

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