The Conservative Party has announced a target of raising the national living wage to £10.50 an hour by 2024 and reducing the age limit for eligibility from 25 down to 21.
The chancellor, Sajid Javid, says that the national living wage will rise from 60% of median earnings to 66% by 2024. This will mean it will be worth £10.50 an hour rather than the forecast £9.55.
The age at which workers will become entitled the to national living wage will drop from 25 to 23 in 2021.
By 2024 it will have fallen to 21 and over.
However, the Labour Party have described the plan as a “pathetic attempt at catch-up” by the Conservatives.
They point out that Labour’s 2017 manifesto promised a national living wage of at least £10 an hour for all workers over 16 by 2020.
By 2024 that would be worth £10.81.
