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Its been announced that the NMW will increase from 1 October 2008, as follows:

Main rate – increases to £5.73 from £5.52

18-21 year olds – increases to £4.77 from £4.60

16-17 year olds – increases to £3.40 from £3.53

Interestingly on a typical 37 1/2 hour week the main rate now gives an annual salary of £11,173 – it makes the P11D limit of £8,500 whereby anyone earning more is classed as “Higher Paid” look increasingly ridiculous.