Subject to Parliamentary approval:
In 2015, the Chancellor George Osbourne pledged to raise the legal pay floor for over 25s to £9 an hour by 2020, however, the government missed this target following weaker than expected average pay growth across the UK economy.
The current Chancellor, Sajid Javid, has pledged to increase the NLW to around £10.50 an hour by 2024, reflecting the recommendations of the independent Dube review. The government has also announced plans to expand the NLW to include workers aged 23 and over from April 2021, and to those aged 21 and over within five years. We will keep you updated with any further developments.