LONDON (Sputnik) — The United Kingdom has increased a minimum wage by 0.5 ($0.7) pounds to 7.2 ($10.3) pounds per hour for employees older than 25 from April 1, the UK government stated online Friday.
UK residents who are older than 21, but younger than 25, are entitled for 6.70 ($9.6) pounds per hour. Those from 18 to 20 years old will get 5.30 ($7.5) pounds while residents under 18 — 3.87 ($5.5) pounds per hour. The National Living Wage rates are to be revised every April, according to the official government website data.
The budget also prescribed welfare budget cuts of some 12 billion pounds ($18.28 billion). These cuts include reductions to "tax credits," money that households with children or with low incomes receive from the government.