Budget 25: Increased support for young workers

£820m funding confirmed for a new Youth Guarantee

Jaskeet Briah
clock • 2 min read

Chancellor Rachel Reeves has confirmed a range of support for young workers in the Autumn Budget today (26 November).

As part of its support package, the UK Government announced increases to minimum wage rates from April 2026. The national living wage, which is the minimum wage rate for all workers aged 21 and over, will increase by 4.1% to £12.71, while the minimum wage will rise by 50p to £10.85 for 18-20-year-olds and 45p to £8.00 for 16-17-year-olds. According to the Government, the increase to the 18-20-year-old rate makes progress towards alignment with the national living wage. Elsewhere, the Government said it is working with employers to support those who get sick to stay in work, and tha...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Regulation

PRA publishes consultation into mutual transfers

PRA publishes consultation into mutual transfers

Encouraging “healthy market dynamics”

Cameron Roberts
clock 22 July 2026 • 2 min read
IPT raises £2.17bn in Q1 26/27

IPT raises £2.17bn in Q1 26/27

Up £2m year-on-year

Cameron Roberts
clock 21 July 2026 • 2 min read
Yvette Cooper appointed as Health Secretary

Yvette Cooper appointed as Health Secretary

Replaces James Murray

Cameron Roberts
clock 21 July 2026 • 2 min read