The National Living Wage is set to increase from £8.91 to £9.50 an hour as part of the autumn Budget, the Treasury said.

The 59p rise means a full-time worker on the living wage would see their annual income jump by more than £1,000.

The National Living Wage was introduced in 2016 and sets the minimum hourly pay a person over the age of 23 can earn when working.

Chancellor Rishi Sunak said: “This is a government that is on the side of working people. This wage boost ensures we’re making work pay and keeps us on track to meet our target to end low pay by the end of this Parliament.”

The Chancellor is also expected to raise the National Minimum Wage for people under the age of 23, with those aged between 21 and 22 to earn a minimum of £9.18 per hour, up from £8.36.

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