Healey to announce minimum wage rise of nearly 4% in UK budget
Defence spending path to 3% of GDP by 2030 also outlined
Chancellor John Healey is expected to announce a near-4% increase in the UK's minimum wage in his Wednesday budget statement, according to reports. The pay rise, which would take effect in 2027, would see the National Living Wage for workers aged 21 and over rise from £12.71 to around £13.20 per hour. The budget is also set to outline a path for defence spending to reach 3% of national income by 2030, as indicated by Prime Minister Andy Burnham.