One million UK workers are getting a pay rise today, as the national minimum wage has gone up by 20p.
This sets the new adult rate at £6.70 per hour.
Youth rates are up too, as 18 to 20-year-olds will get £5.30 and under-18s get £3.87.
Another pay rise is on the way for at least 2.5 million Britons as the National Living Wage, introduced by chancellor George Osborne in the July Budget, comes into force next April, ensuring everyone over the age of 25 receives £7.20 an hour.
Although a significant rise, this falls short of the Living Wage Foundation’s recommended hourly rate. The foundation suggests a minimum of £9.15 in London and £7.85 for the rest of the UK.
Several UK companies are already charging ahead, lining up to raise their salaries beyond Osborne’s National Living Wage.
Just yesterday Costa became the latest company to announce a pay hike for all staff, raising minimum salaries to £8.20 in London and £7.40 outside.
Starbucks, Lidl, Ikea, Oliver Bonas, Morrisons and Sainsbury’s are among those who have also made similar pledges.