The various rates of the national minimum wage (NMW) will increase with effect from the 1st October 2016. What are the new rates and from when do you apply the increases? From 1st October 2016 the NMW rates will rise as follows: The standard (adult) rate for workers aged 21 to 24 will increase from £6.70 to £6.95 per hour. The development rate for workers aged 18 to 20 will increase from £5.30 to £5.55 per hour. The young workers rate for those aged 16 to 17 will increase fro
The new plastic £5 note sent collectors into a spin as they searched for special editions of the polymer bill - but what about the new £10 note? Following the Bank of England's launch of the new fiver, which features Sir Winston Churchill and is hailed as "longer lasting" and "harder to forge", attention is beginning to turn to the forthcoming plastic £10 note. Details are sketchy, with officials remaining tight-lipped about the official release date of the upcoming £10 note.