The annual rate increases for leave entitlements and minimum wages for 2023/2024 have now been announced.
The rate for statutory maternity, paternity, adoption, shared parental and parental bereavement pay will increase to £172.48 per week from £156.66. The rate for statutory sick pay will increase to £109.40 per week, previously £99.35. The annual increase to the minimum wage and national living wage are as follows:
23+ - £10.42 (from £9.50)
21-22 - £10.18 (from £9.18)
18-20 - £7.49 (from £6.83)
16-17 - £5.28 (from £4.81)
apprentices - £5.28 (from £4.81)
These changes will take effect in April 2023.