Labour Government plans to raise minimum wage for 18-20-year-olds and potentially increase inflation.

Labour Government plans to transform minimum wage, providing a significant boost for millions of workers in the UK. The party intends to scrap minimum wage age bands for adults, resulting in a rise for workers aged 18-20. The current over 21 rate is £1,654 a month, expected to increase due to the new plans. This could lead to higher inflation and unintended consequences for employee benefits, putting pressure on businesses and the Bank of England.