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Apprentice national minimum wage to rise by 9.7 per cent from April 2023
Today as a part of the Autumn Statement (17th November 2022), Chancellor Jeremy Hunt announced that the apprentice national minimum wage will rise by 9.7 per cent to £5.28 from April 2023, an increase of 47p on the current £4.81 apprentice minimum wage.
The Treasury said it remained “committed” to tackling low pay and continued its ambition for the national living wage to reach two-thirds of median earnings by 2024.
Over the last few years, we have seen the minimum wage for apprentices rise substantially, with the rate back in 2018 sitting at £3.70 per hour.
Speaking about the increase in the minimum apprenticeship wage, Iain Salisbury, CEO of Aspiration Training, said: “Although the economy will have difficult times ahead, continued investment in skills and our people must keep increasing if we are to improve the national outlook. Apprenticeships are a vital part of upskilling Britain, and showing we value our apprentices as a nation is an important message to send”.
We hope this rise will help more young people see apprenticeships as an attractive and viable option for their future. The rise will mean that all apprentice employers paying minimum wage must increase their apprentice’s pay by law. However, we know that many employers already pay more than the UK national minimum wage, so the change won’t hugely impact them.
For more information on how Aspiration Training can work with your business in finding an apprenticeship, please get in touch with us here.