Millions to get bumper pay rises in Budget: Chancellor Rachel Reeves is set to announce 6% hike in National Living Wage to at least 12.12-an-hour [Video]

06:43 EDT 29 Oct 2024, updated 10:01 EDT 29 Oct 2024 By Jason Groves, Political Editor and Jessica Clark For The Daily Mail and Rory Tingle, Home Affairs Correspondent For Mailonline

Millions are in line for pay rises as Rachel Reeves gears up to announce an inflation-busting rise in the minimum wage to at least £12.12-an-hour. 

Government sources say the Chancellor will use tomorrow’s Budget to unveil a ‘significant’ rise in what will be rebranded the ‘new living wage‘.

While this will boost many workers’ pay packets, it could also deal a blow to firms’ bottom lines and raise fears they could delay or even cancel decisions to hire new staff. 

Sir Keir Starmer is now facing a growing backlash from business over planned hikes to employers’ National Insurance, which firms say will hit jobs and growth.

The Low Pay Commission, which advises the Government on the level of the ‘National Living Wage’, has previously projected that the minimum could …