UK to Increase National Minimum Wage by Nearly 4%

• Chancellor John Healey plans to raise the UK's national minimum wage by nearly 4%.
• The increase will apply to workers aged 18, 19, and 20, aligning with the rate for older workers.
• Despite Labour's manifesto pledge, the pay gap with younger workers will not be closed.
• The move aims to address the cost of living crisis and concerns over youth unemployment.
• The increase is expected to be announced in the upcoming UK Budget.