Chancellor Jeremy Healey has indicated that younger workers may not receive the same minimum wage as older employees before the next election. In the recent Budget, he confirmed that the wage gap between 18 to 20-year-olds and those over 20 will persist, with the latter set to earn £13.21 an hour by 2026, compared to £11.27 for younger workers.
Healey emphasized a gradual approach to closing this gap, suggesting that while Labour remains committed to the goal, the timeline may be extended to encourage businesses to hire younger workers. This decision is likely to face criticism from unions and party members advocating for immediate wage equality.