Research and analysis

The National Minimum Wage (Amendment) (No. 2) Regulations 2024

Regulatory Policy Committee opinion (green-rated) on DBT’s impact assessment of The National Minimum Wage (Amendment) (No. 2) Regulations 2024.

From:
Regulatory Policy Committee
Published
20 February 2024

Documents

The National Minimum Wage (Amendment) (No. 2) Regulations 2024: RPC opinion (green-rated)

PDF, 141 KB, 8 pages

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Details

This is the RPC’s opinion on DBT’s final stage impact assessment for The National Minimum Wage (Amendment) (No. 2) Regulations 2024.

The national minimum wage (NMW) was introduced in April 1999.  The national living wage (NLW) was introduced in April 2016.

This opinion covers the impact assessment for The National Minimum Wage (Amendment) (No. 2) Regulations 2024, laid in draft before Parliament on 31 January.  The proposals set minimum hourly wage levels, protecting low-paid workers while providing incentives to work.  The Low Pay Commission reviews these rates, and makes recommendations to government, annually.

The proposals would increase the NLW (from April 2024 applying to those aged 21 years and older) and the NMW rates for development (18-20 years), youth (16-17 years) and apprentices. All proposed increases are in line with the LPC’s recommendations.  The proposals meet the Government’s target for the NLW to reach two-thirds of median earnings (providing economic conditions allow) and for the NLW to apply to workers aged 21 years and over by 2024.

Published 20 February 2024