The National Minimum Wage in 2023
This report by the Low Pay Commission marks the increase in all rates of the National Minimum Wage in April 2023 and looks ahead to rates for 2024 and beyond.
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From 1 April 2023, all rates of the National Minimum Wage, including the National Living Wage, increase. These increases will benefit millions of low-paid workers. This report by the Low Pay Commission looks at the effects of the incoming rates and current projections for the National Living Wage in 2024 and beyond.
The new rates are as follows:
| NMW rate | Annual increase (£) | Annual increase (per cent) | |
|---|---|---|---|
| National Living Wage (23+) | £10.42 | 0.92 | 9.7 |
| 21-22 Year Old Rate | £10.18 | 1.00 | 10.9 |
| 18-20 Year Old Rate | £7.49 | 0.66 | 9.7 |
| 16-17 Year Old Rate | £5.28 | 0.47 | 9.7 |
| Apprentice Rate | £5.28 | 0.47 | 9.7 |
| Accommodation Offset | £9.10 | 0.40 | 4.6 |
The report sets out the LPC’s latest projections for the NLW rate required in 2024 to reach the target of two-thirds of median earnings. Our central estimate of the on-course rate of the NLW for 2024 is £11.16, within a range of £10.90 to £11.43.